Albuquerque Tax Attorney
Assistance with a Federal Tax Audit in Albuquerque
Albuquerque, New Mexico’s largest city, is a vibrant blend of old and new, tradition and innovation. Here, businesses and residents enjoy the city’s rich cultural heritage and thriving economy. Yet, they also face unique federal tax challenges. Albuquerque’s diverse economy includes everything from tourism and healthcare to high-tech industries and government services, each with its tax considerations.
In the fast-paced financial hub of Albuquerque, navigating the complex web of federal tax laws requires acute expertise. Here, where commerce thrives, and the IRS vigilantly watches, an experienced strategic ally is paramount. Albuquerque’s unique economic landscape presents distinct federal tax challenges, demanding a legal partner well-versed in the city’s pulse and the intricate federal tax system. Facing an IRS audit without legal representation can put you on shaky ground. You could unintentionally say something the tax examiner might misconstrue as a confession of wrongdoing. Plus, tax examiners might make judgments based on misaligned facts from your case or draw conclusions based on incorrect legal interpretations.
Our dual-licensed Albuquerque Tax Audit Attorneys and CPAs specialize in confronting these sophisticated tax dilemmas. In the appropriate circumstances, we accurately manage what amounts to the preparation of amended returns, which signify our optimal settlement position. We represent you in intricate IRS Office, Field, and Correspondence audits, putting your interests first to ensure minimal risk and customized solutions. With nearly three decades of combined tax and legal experience, our award-winning team is a trusted pillar in the Albuquerque tax community. Our federal tax audit practice areas include (but are not limited to) the following:
- Correspondence Audits
- Field Audits
- Office Audits
- Employment and payroll tax audits
- Foreign Account Audits (FBAR Audits)
- Eggshell and Reverse Eggshell Audits
- Small Business Audits
- Criminal Tax Audits
- Income Earned Overseas
- Bitcoin- and cryptocurrency-related audits
- Estate and Gift Tax Audits
- Income Tax Evasion Audits
- Tax Evasion and Divorce
- Tax Planning for Non-Citizens
- Criminal Tax Evasion vs. Civil Tax Fraud
- Tax Audits of Lawyers
- Coinbase User Audits
- New Civil and Criminal Tax Enforcement Measures on High-Income Earners
- Audits Resulting from Information Provided by Whistleblowers or Informants
- IRS Wealth Squad Audits
- Surviving a Federal Tax Audit
- Tax Avoidance and Evasion
- Tax Fraud Scheme
- Filing Back Taxes & Failure to File
- Business and corporate tax audits
- Excise Tax Audits
- Tax Preparer Liability
- Foreign Account Tax Compliance Act (FATCA) and international tax issues
- Car Dealership Audits
- Dentist Audits
- Veterinarian Audits
- Attorney / Legal Industry Audits
- Doctor’s / Medical Industry Audits
- Real Estate Professional Audits
- Audits of Cash-Intensive Businesses
- Non-Filer Compliance Issues
- Income Tax Error Audits
- Concerns Over the Tax Gap
- IRS Tax Evasion Crackdown
- U.S. Government Plans for Collecting Taxes and Closing the Tax Gap
- IRS Hiring Spree Indicating Increased Enforcement
Table of Contents
- Assistance with a Federal Tax Audit in Albuquerque
- Criminal Tax Defense Attorney in Albuquerque
- Federal Tax Litigation or Tax Disputes in Albuquerque
- Get Back into Compliance without Facing Criminal Tax Prosecution in Albuquerque
- Albuquerque IRS Appeals Representation
- Consult Our Albuquerque International Tax Attorneys
- Cryptocurrency Taxation in Albuquerque
- Worried About Civil or Criminal Liability for Unfiled Federal Tax Returns in Albuquerque?
Criminal Tax Defense Attorney in Albuquerque
When dealing with the intricacies of the IRS’s civil and criminal tax regulations, in-depth knowledge of the IRS’s tax audit process and the Criminal Investigation Division’s (CID) clandestine investigation techniques becomes indispensable. Being proactive rather than reactive is wise, especially during high-risk federal tax audits that might transition into eggshell or reverse eggshell situations, potentially leading to more severe consequences. Our Albuquerque dual-licensed civil and criminal tax defense Attorneys and CPAs adopt a forward-thinking approach, aiming to address and neutralize a dicey federal tax audit or an exponentially more severe CID tax investigation before it magnifies into criminal tax prosecution. This preemptive strategy is crafted to shield our clients from the damning spotlight and severe repercussions accompanying an indictment and protect them from the life-altering ramifications of such legal encounters.
The Internal Revenue Service (IRS) treats tax fraud very seriously. As of 2023, the agency has continued to enhance its ability to enforce tax laws and criminally punish those who intentionally and willfully evade their tax obligations through illegal means. If you have failed to file a tax return for one or more years or have taken a position on a tax return that could not be supported upon an IRS tax audit, eggshell audit, reverse eggshell audit, or criminal tax investigation, it is in your best interest to contact an experienced Albuquerque Tax Defense Attorney to determine your best route back into federal tax compliance without facing criminal tax prosecution. To date, we have never had an audit client criminally prosecuted for tax crimes.
IRS tax audits in Albuquerque can vary in intensity, from simple mail inquiries to exhaustive on-site inspections where agents pore over financial documents at your Albuquerque home or enterprise. Immediate action is imperative, especially when a Fraud Technical Advisor (FTA) joins the scene, tasked with uncovering tax fraud indicators. Such discoveries might prompt a comprehensive IRS criminal tax probe. Given CID’s staggering 90% conviction success in the cases it pursues, it would be wise to seek the skilled experience of our dual-licensed Civil and Criminal Tax Defense Attorneys & CPAs. We are happy to provide a reduced rate for initial consultation, which you can arrange by calling our offices at (505) 206-5308 or by clicking here to schedule online. Engaging our services at the onset of a high-risk audit / criminal tax investigation maximizes the possibility of a favorable outcome without escalating criminal tax charges. We excel in:
- Eggshell Tax Audit Defense
- Reverse Eggshell Tax Audit
- Criminal Tax Investigation
- Intentional/Fraudulent Federal Tax Evasion
- Tax Crime Indictment and Prosecution
- Tax Fraud Whistleblower Defense
- Willful Failure to File Tax Returns
- Increased Tax Fraud Referrals to IRS-CI
- Maintaining inadequate records or destroying records
- Providing implausible or inconsistent explanations during civil examination
- Displaying belligerent, rude, or disrespectful behavior to an IRS agent
- Arranging affairs for the sole purpose of tax avoidance in a manner that lacks economic substance
- Dubious conservation easement deductions
- Fraudulent Withholding or False Statements
- Handling IRS Criminal Investigation Division (CID) Inquiries
- Business and Employment Tax Fraud
- Representation in Cases of Alleged Tax Fraud Schemes
- Hobby Business and Taxes
- Tax Preparer Liability
- IRS Renewed Focus on Criminal Tax Defense
- Overstating deductions or claiming false deductions
- Hiding or transferring income with relatives or related entities
- Keeping false records of your income or “second set of books”
- Falsifying books or records “forgery”
- Prematurely destroying records
- Claiming Fake Dependents
Federal Tax Litigation or Tax Disputes in Albuquerque
We understand the intricate dynamics of federal tax litigation in Albuquerque’s demanding financial environment. Our seasoned dual-licensed Albuquerque Tax Litigation Attorneys and CPAs specialize in various services, including navigating sensitive (eggshell) audits, ensuring tax compliance, and advising on reporting positions. Our clients benefit from our strategic handling of disputes related to employment tax, estate, and gift tax, cases involving unreported income, and allegations of civil tax fraud. We meticulously assess litigation risks where latent criminal tax issues may exist to secure resolutions as soon as possible, drawing upon our deep understanding of the procedural rules and substantive issues at play. To date, we have never lost in tax court. We won’t take your case if we don’t believe we’ll win. Because of the IRS’s 98% settlement rate, we’ve never stepped foot in tax court, sparing our clients the most expensive part of tax litigation.
Whether you’re dealing with a federal audit, criminal tax investigation, appeals, or tax litigation, David W. Klasing’s unmatched expertise, sophisticated skills, and vast experience make him an unrivaled ally. We are dedicated to your unique situation and work diligently to help you achieve the best possible outcomes. Holding a Master’s degree in taxation, David is a dual-licensed Tax Attorney and CPA, bringing nearly 30 years of experience. He has successfully helped various companies and individual taxpayers manage the audit process before the IRS. You would be hard-pressed to find a more skilled or experienced representative to assist you in getting the best outcomes for your tax matters.
Tax controversies often arise when a federal tax agency, such as the IRS, believes a tax is owed, and a taxpayer or company disagrees. Conversely, disputes can also emerge when taxpayers believe they are owed a refund. For clients facing heightened scrutiny, we provide robust defense in tax injunctions, tax shelters, promoter investigations, and Office of Professional Responsibility (OPR) inquiries and investigations. With a 98% settlement rate, the IRS typically seeks to avoid tax litigation just as much as you’d want. Throughout the controversial process, from pre-audit preparations to litigation in the courts, our dual-licensed Albuquerque Tax Litigation Attorneys and CPAs offer creative problem-solving approaches, controlling the flow of information during audits and presenting persuasive arguments across all stages of tax disputes. We specialize in disputes arising in:
- Alternative Dispute Resolution Options
- Audits and Negotiations with Federal Tax Agencies
- Collection Due Process Disputes
- Civil and Criminal Tax Litigation
- Partnership Taxation
- Litigation of Estate and Gift Tax Audits
- Innocent Spouse Relief Litigation
- Tax Litigation Involving Tax Assessments, Penalties, or Enforcement Actions
Get Back into Tax Compliance Without Facing Criminal Tax Prosecution in Albuquerque
The IRS conducts many audits every year. Once you have been selected for a federal tax 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 was willful concerning any non-compliance with income tax or foreign information reporting. Our team is committed to facilitating sincere, comprehensive, and prompt disclosures, ensuring proper arrangements to settle outstanding taxes, interests, and penalties. This process effectively serves as a federal tax amnesty for eligible participants.
Additionally, we adeptly manage the intricacies of various voluntary disclosure routes, such as domestic and offshore procedures, streamlined filings, and submissions for delinquent FBARs and international information returns. As long as a taxpayer who has willfully committed tax avoidance (potentially including non-filed foreign information returns coupled with affirmative evasion of U.S. income tax on offshore income) self-reports the federal 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. Our dual-licensed Albuquerque Voluntary Disclosure Tax Attorneys and CPAs deal with:
Albuquerque IRS Appeals Representation
Are you dissatisfied with the outcome of an IRS audit?
Suppose you disagree with the IRS tax audit’s conclusion and subsequent recommendations. In that case, you should know you have the right to an appeal and can have our experienced dual-licensed Albuquerque IRS Appeals Attorney and CPAs represent you. Appeals are generally available solely based on disagreements about the facts or the law in your audit. Unfortunately, the Appeals process can become very complex and, in some cases, can even necessitate litigation in Tax Court. Working with an experienced dual-licensed Albuquerque Attorney-CPA can help maximize your chances of making a successful appeal while resolving your tax liabilities as efficiently and cost-effectively as possible. We can assist you in preparing the strongest protest letter possible and will do our utmost to negotiate a favorable compromise on your behalf. At the Tax Law Offices of David W. Klasing, we help business and individual clients appeal Internal Revenue top tax attorney service audits and other IRS actions.
You must file a formal written protest within 30 days of receiving Letter 525, detailing your objections, the supporting facts, and relevant laws. Suppose you’re dealing with an IRS tax audit, challenging a tax assessment, or seeking relief from IRS collection actions. In that case, our meticulous approach ensures you’re well-prepared for every step of the appeals process. From handling trust fund recovery penalties to disallowed business expenses, we will ardently fight for you, keeping you informed throughout the process.
If a resolution isn’t reached, you may petition the U.S. Tax Court within 90 days of receiving a Notice of Deficiency. Two key appeal procedures are the Collection Appeals Program (CAP), which is rapid but final, and the Collection Due Process (CDP), which allows for tax court recourse if necessary. With David W. Klasing‘s expertise in tax law and accounting, we provide strategic insight to help you make informed decisions regarding your tax appeal. Whether you need to appeal the IRS’s entire decision or specific rulings, we will educate you about your options and guide you toward a favorable resolution. If you’re unsatisfied with audit outcomes, tax penalties, or other IRS decisions, our skilled representation before appeals officers will ensure your records are detailed and organized, positioning you for a favorable outcome in the appeals process. We handle all types of tax appeals and litigation, including trust fund recovery penalties and disallowed business expenses:
Consult Our Albuquerque International Tax Attorneys
Tired of sleepless nights? The weight of concern over undisclosed foreign accounts and unreported business or investment income can disrupt your sleep, but avoidance is no longer an option. With the IRS’s enforcement tools like FATCA sharpening their detection capabilities, it’s only a matter of time before they shine a light on your hidden offshore assets. Take the decisive step to restore your peace of mind. Reach out to our experienced dual-licensed Albuquerque International Tax Attorneys and CPAs. Let’s secure your financial tranquility, ensuring you can rest easy once more and simultaneously avoid criminal tax and offshore information reporting fraud.
Now is the time to get the seasoned eyes of legal counsel on your international tax filing history to get you back into compliance in a fashion that minimizes additional tax, penalties, and interest and successfully avoids criminal tax prosecution. We are also associated with top international lawyer Marc Schwartz, a dually licensed International Tax Attorney and CPA, which enriches our capability to address the federal and offshore implications of international tax and estate planning and compliance. David W. Klasing, a dually licensed attorney and CPA, having earned a master’s degree in taxation, leverages his expertise to safeguard your financial interests from the complexities of international tax law, such as FBAR and FATCA compliance, international tax planning, and resolving potential double-taxation.
With our comprehensive understanding of international tax treaties and enforcement efforts, we ensure your strategy is aligned with the current legal landscape, protecting you from the increased likelihood of stringent IRS tax audits and criminal tax investigations. We ensure that international tax reporting obligations are met precisely. We assist foreign-owned U.S. corporations and foreign corporations with U.S. activities in fulfilling their filing requirements and navigating the tax implications of establishing a U.S. presence. Click on the following to learn more:
- Tax Planning for American Expatriates and Businesses
- FATCA (Foreign Account Tax Compliance Act) Compliance
- Corporate Taxes
- International Tax Liability Minimization
- Compliance with IRS Form 5472 for Foreign-Owned U.S. Corporations
- U.S. Entity Formation for Non-Resident Aliens
- Tax Compliance for Expats
Cryptocurrency Taxation in Albuquerque
Recently, federal government agencies have been making efforts to increase their technological sophistication to identify potential tax cheats utilizing cryptocurrency, including making deals with private entities. The increased federal emphasis on cryptocurrency tax compliance has placed tens of thousands of virtual currency users in the IRS’s crosshairs, with a heightened risk of selection for a tax audit or criminal tax investigation. Taxpayers should know that the IRS CAN track cryptocurrency despite misconceptions about anonymity and encryption. It can lead to a high-risk eggshell audit or even a covert criminal tax investigation if not addressed appropriately. The shock is palpable for many when they discover that exchanges of one type of crypto for another are taxable events in the year that they occur, even with no fiat changing hands or that the IRS might have obtained their transaction details from sources like Coinbase. The volatile nature of the crypto market, with its significant highs in 2017 followed by subsequent lows, has left many with substantial tax liabilities, often disproportionate to their current portfolio value.
If you have unreported cryptocurrency accounts or wallets, you should come forward before it’s too late. By voluntarily reporting cryptocurrency transactions accurately, you may be able to avoid or minimize penalties (or prevent yourself from being criminally prosecuted). Work with our experienced Albuquerque cryptocurrency tax attorneys for trusted cryptocurrency tax help, including John Doe Summons-related tax audit representation and criminal tax defense representation. The exposure is even more significant for those who’ve ventured offshore with cryptocurrency. However, there’s a silver lining: taxpayers who’ve inadvertently committed tax discrepancies can often self-report through voluntary disclosure, potentially avoiding criminal tax prosecution and benefiting from reduced civil tax penalties. Whether you’re dealing with Bitcoin, Ethereum, Litecoin, or any other virtual currency, call our Albuquerque office today at 1 (322) 244-8515 or schedule a reduced-rate initial consultation here, and we will successfully guide you through the record-keeping and reporting procedures required to file the required tax returns. For more information, see the following:
- Cryptocurrency/Bitcoin tax law 101
- Accuracy-related Penalties as dictated by sections 6662, 6721 and 6722
- Capital Gains Taxes
- Self-employment tax for Bitcoin mining
- Using Bitcoin to Commit Tax Evasion
- Corporate Taxes
- Reporting requirements for virtual currency payments
- Voluntary disclosure for unreported cryptocurrency transactions
- (IRS-CI) Expanding to Target Crypto Users
- Reporting Bitcoin transactions on IRS Form 8949 and Schedule D filing
- 1031 exchanges with digital currencies
- John Doe summons
- Responding to IRS letters on unreported cryptocurrency
- Representation in eggshell audits and criminal tax investigations for cryptocurrency
- International FBAR Lawyers for Bitcoin and Cryptocurrency Tax Issues
- Coinbase User Audits
- Big Data Analytics to Punish Tax Evaders
Worried About Civil or Criminal Liability for Unfiled Federal Tax Returns in Albuquerque?
The U.S., unique in its citizenship-based taxation, imposes stringent tax reporting and disclosure laws, especially for those holding foreign assets. Non-compliance, failing to file or pay taxes, can result in hefty penalties, with a 5% charge on the outstanding tax bill for each month of delay up to a maximum of 25%. Moreover, undisclosed foreign accounts, once considered safe havens, now carry substantial risks due to regulations like FATCA and the Bank Secrecy Act’s FBAR. At the Tax Law Offices of David W. Klasing, our Albuquerque dual-licensed Unfiled Tax Attorneys and CPAs stand ready to guide you through these complexities. Whether you’re confronting the repercussions of unfiled tax returns or navigating foreign account disclosures, our expertise ensures compliance and protection/mitigation of potential civil or criminal tax consequences.
For any tax planning compliance and controversy needs in Albuquerque, contact the Tax Law Offices of David W. Klasing today. Call 1 (322) 244-8515, or contact us online today to schedule a reduced rate initial consultation:
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*SEE ABOVE POLICY ON SCHEDULING A MEETING AT ONE OF OUR APPOINTMENT-ONLY SATELLITE LOCATIONS:
Note: This office is by appointment only!
David’s proven proficiency is now available in New York at our appointment-only satellite office, providing both legal and tax services in one place—at a single hourly billing rate. We have just introduced a flexible scheduling option where our clients can reserve a four-hour slot at any of our satellite locations. David W. Klasing will travel to any of our satellite offices to meet with you personally. This option must be preceded by a one-hour phone or go-to-meeting consultation to warrant incurring the travel expenses and opportunity costs of traveling to the East Coast. We have designed this service to benefit our clients, with no additional travel expenses added to your bill. Call us at 1 (322) 244-8515 or complete our online contact form today.