The IRS’ Large Business and International (LB&I) Division enforces compliance with corporate tax laws, focusing specifically on C corporations, S corporations, and LLCs whose assets are valued at or above $10 million. (Small businesses, or companies with assets below $10 million, are monitored by a separate branch of the IRS, the Small Business/Self-Employed Division.) If you regularly visit our tax law blog, you may recall that, toward the end of 2018, LB&I launched five compliance campaigns targeting FATCA filers, taxpayers claiming foreign tax credits, taxpayers claiming work opportunity tax credits, offshore service providers, and filers of delinquent Forms 1120-F (U.S. Income Tax Return of a Foreign Corporation). More recently, LB&I announced the launch of six additional campaigns, one or more of which may impact your large business. If you need assistance resolving corporate tax issues in California, the business tax attorneys at the Tax Law Office of David W. Klasing can help your company find strategic solutions.
An experienced corporate tax attorney can help you successfully navigate LB&I’s latest rollout of compliance campaigns, which affect S corporations, large businesses with offshore assets, and other taxpayers. The campaigns, which were announced by the IRS in July 2019, are as follows:
Whether you own and operate a large business, or you are simply a taxpayer with substantial personal assets, you may be impacted by the IRS’ most recent LB&I compliance campaigns. Be sure to review your tax situation thoroughly with a skilled and experienced attorney-CPA, like David W. Klasing, who can work to reduce tax penalties, negotiate with the IRS, and help you or your business plan for the future. Contact us online today to arrange a reduced-rate consultation, or call the Tax Law Office of David W. Klasing at (800) 681-1295 to get started.
Also, we’ve expanded our offices! In addition to our offices in Irvine and Los Angeles, the Tax Law Offices of David W. Klasing now have offices San Bernardino, Santa Barbara, Panorama City, Oxnard, San Diego, Bakersfield, San Jose, San Francisco, Oakland and Sacramento.
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Will it cost me more to hire the Tax Law Offices of David W. Klasing, who’s main office and the vast majority of the firm’s staff is located in Irvine California, but an appointment only Satellite office is close to my location, as opposed to a local company? Absolutely not! See our policies that address this issue here: