San Bernardino, nestled in California’s Inland Empire, is renowned for its stunning mountain views, historic sites, and diverse economy. As a significant urban center, San Bernardino is a bustling hub of economic activity, encompassing logistics, healthcare, education, and manufacturing sectors. These industries drive the city’s dynamic growth but necessitate meticulous management of federal and California state tax obligations. Strict compliance with tax laws is crucial in this economic framework, as any deviations can invite severe repercussions, including hefty penalties and potential legal action. The complex tax landscape in San Bernardino, influenced by its varied economic activities and substantial cross-border transactions, requires businesses to stay vigilant and informed.
What Should I Do If I Have Undisclosed Foreign Accounts and am Facing an IRS Audit?
The IRS conducts many audits every year. Once you have been selected for federal or California state audit and have undisclosed foreign accounts and unreported offshore income-generating assets, your options to get yourself back into compliance become extremely limited, and you could end up facing severe civil and even criminal tax penalties and or criminal tax prosecution, especially if your conduct were willful concerning any non-compliance with income tax or foreign information reporting. If you’re in San Bernardino and realize that you could face criminal tax prosecution over a history of blatantly cheating on your tax returns if discovered, voluntarily disclosing this history by knocking on the IRS’s door before they bang down your door is the most crucial step towards resolution without facing criminal tax prosecution.
Why Should I Choose the Tax Law Office of David W. Klasing?
The Tax Law Office of David W. Klasing is a distinguished, nationally recognized boutique tax law firm. Our San Bernardino dual-licensed Voluntary Disclosure Tax Attorneys and CPAs are here to serve you with nearly three decades of collective experience in federal and California state tax and business law. We’re committed to bringing you back into tax compliance without having the harshest fines and penalties levied against you. Moreover, we can help you leverage the benefits of voluntary disclosure, even when full benefits might not be available. We aim to help you achieve substantial tax compliance by promptly addressing disclosure requirements, minimizing your risk exposure, and giving you the priceless peace of mind of knowing you are in good standing with the IRS and California state tax authorities. For a reduced-rate initial consultation, call our San Bernardino tax office at (909) 547-4918 or contact the Tax Law Office of David W. Klasing online here.
What Makes David W. Klasing Stand Out?
David W. Klasing, boasting an admirable A+ rating from the Better Business Bureau and an impeccable perfect 10.0 score from AVVO, remains steadfast in his commitment to be your guide in Voluntary Disclosure Practice. David has held esteemed positions such as Past Chair of the OCBA Tax Committee, Past Chair of the California Bar Tax Procedure and Litigation Committee, and Past Education Chair of the American Society of Attorney CPAs. His mission is to restrict your tax debts and tax penalties to an absolute minimum, help you utilize the tax code advantageously, and work with you to achieve due compliance with the IRS and California state tax law.
In a nation teeming with over a million attorneys and more than half a million CPAs, only an estimated 24,000 professionals have the distinction of dual licensure. Even more exclusive, an estimated 3,000 have additionally achieved the esteemed credential of having earned a Master’s in Taxation. David W. Klasing, a prominent figure within this elite group, leverages his unmatched academic and nearly three decades of hands-on experience to support our clients through their tax compliance challenges ardently, be it deliberate or unintentional.
How Can I Use Voluntary Disclosure to Become Tax-Compliant?
IRS Voluntary Disclosure involves applying for acceptance, a crucial step that should be guided by a Criminal Tax Defense Attorney. The appropriate method of disclosure depends on whether the non-compliance was willful, the number of years involved, and the amount of unpaid taxes or unreported income. To apply for the IRS Voluntary Disclosure Practice, taxpayers must submit two parts of IRS Form 14457. Part I, the Voluntary Disclosure Practice Preclearance Request and Application, must be mailed or faxed to the IRS Criminal Investigation unit. Acceptance of Part I does not guarantee entry into the program; it simply initiates the process. If preclearance is granted, the taxpayer has 45 days to submit Part II, detailing the non-compliance. The IRS will review the complete submission and, if approved, will issue a Preliminary Acceptance Letter. This case is then forwarded to a civil investigations department, where an examiner will contact the taxpayer to review documents and information, ensuring full cooperation throughout the process. Click here for more details.
Note: You must cooperate with the examiner to provide documents and information. Contact our dual-licensed San Bernardino Criminal Tax Defense Attorneys & CPAs for the most current Voluntary Disclosure procedures.
What Are My Options for Correcting Offshore Tax Non-Compliance?
Designed explicitly for U.S. taxpayers residing within the U.S., the Streamlined Domestic Offshore Procedures provide an avenue to correct non-compliance regarding foreign financial assets, potentially reducing penalties. For U.S. taxpayers living abroad, the IRS offers the Streamlined Foreign Offshore Procedures, which help correct non-compliance related to foreign assets, offering favorable terms that may eliminate penalties. If you’ve failed to report certain international tax information but owe no additional tax, you may qualify for the Delinquent International Information Return Submission Procedures, allowing you to meet your reporting obligations without facing penalties. Additionally, for taxpayers who have not received contact from the IRS regarding delinquent Foreign Bank and Financial Accounts Reports (FBARs) and are not currently under IRS civil examination or criminal tax investigation, the Delinquent FBAR Submission Procedures offer a way to correct their non-compliance.
What Benefits Does Entering into a California Voluntary Disclosure Provide Concerning Sales and Use Taxes?
If one pursues a voluntary disclosure agreement with the CDTFA (BOE) for unpaid sales or use tax obligations, the penalty relief and other benefits that may be available include:
- Waived late filing and late payment fees;
- A condensed assessment window. Absent this relief, California may be able to assess sales taxes for up to the last eight years. When a valid disclosure is made, the assessment period is limited to just three years;
- Applicants can make a disclosure on an anonymous basis and receive an opinion letter regarding whether they are likely to qualify for this relief.
In sum, the availability of a California voluntary disclosure program can protect new businesses and out-of-state businesses from potentially company-ending consequences due to a mistake. A narrowed assessment period can significantly reduce the assessed tax liability. However, taxpayers who do not act in a timely manner may find this relief option foreclosed since unilateral contact by a California tax agency or the start of an investigation will result in ineligibility.
In Need of Comprehensive California State Tax Guidance in San Bernardino
Our dual-licensed Santa Bernardino Voluntary Disclosure Attorneys and CPAs offer full-service tax guidance for organizations and entities with California tax obligations. If you already have a relationship with a CPA in your company’s home state, we are happy to consult on the matter. We can provide California tax guidance to increase the likelihood that your California tax return or other tax filing is accepted without issue. Since our practice consists of both Tax Lawyers and CPAs, we take a comprehensive approach to business and tax law issues in California, in-state tax filings, and additional aspects of multi-state taxation. Our team comprises experienced Criminal Tax Defense Attorneys & Kovel CPAs, offering a comprehensive one-stop solution. We understand the intricacies of voluntary disclosures, the risks and rewards involved, and, most importantly, how to safeguard you if you don’t qualify for a voluntary disclosure.
Navigating Federal and California Voluntary Disclosures with Ease
At the Tax Law Offices of David W. Klasing, we navigate the complexities of various federal and California state voluntary disclosures, including domestic, offshore, CDTFA, and FTB voluntary disclosures, streamlined procedures, and delinquent FBAR and international information return submission procedures. As long as a taxpayer who has willfully committed tax evasion (potentially including non-filed foreign information returns coupled with affirmative evasion of U.S. income tax on offshore income) self-reports the tax non-compliance through a domestic or offshore voluntary disclosure before the IRS has started an audit or criminal tax investigation/prosecution, the taxpayer can ordinarily be successfully brought back into tax compliance and receive a nearly guaranteed pass on criminal tax prosecution and simultaneously often receive a break on the civil penalties that would otherwise apply.
Call our San Bernardino office today at (909) 991-7557 for your reduced-rate initial tax consultation, or contact us here.
Our San Bernardino office is conveniently located at:
473 E Carnegie Dr #200
San Bernardino, CA 92408
(909) 991-7557