Austin Domestic and Offshore Voluntary Disclosure Attorney
Austin, the vibrant capital of Texas, is renowned for its lively music scene, technological innovation, and robust economy. As a hub of rapid economic growth, Austin is home to many startups and well-established corporations contributing to the city's dynamic financial landscape. Navigating through the intricate federal tax laws is crucial for these enterprises, as adherence to them is not only mandatory but pivotal in safeguarding them from severe legal repercussions.
Amid Austin’s bustling economic environment, the IRS Voluntary Disclosure Practice (VDP) is an indispensable lifeline for taxpayers. Whether individuals or corporations have inadvertently failed to meet their complete federal tax compliance obligations or have engaged in intentional omissions, overstatements, or understatements, the VDP offers a valuable opportunity for rectification. Engaging in voluntary disclosure allows taxpayers to amend these errors, mitigate the impact of civil tax penalties, and significantly eliminate the risk of criminal tax prosecution.
For conscientious taxpayers in Austin, deciphering the maze of the U.S. Tax Code is undeniably daunting. The Code’s complexity extends beyond its primary provisions, necessitating a profound understanding of the associated federal case law, IRS guidelines, and other authoritative sources to grasp its implications fully. While tax professionals can provide expert advice, the onus for any willful inaccuracies or omissions in tax filings, which could lead to civil or severe criminal tax liabilities, ultimately lies with the taxpayer. In this intricate and challenging context, the guidance of knowledgeable and experienced Austin Voluntary Disclosure Attorneys is invaluable.
Introducing the Tax Law Office of David W. Klasing in Austin, Texas
The Tax Law Office of David W. Klasing, a distinguished, nationally recognized boutique tax law firm, is excited to announce the opening of a new virtual office in the vibrant city of Austin. Our nationally acclaimed team of dual-licensed Voluntary Disclosure Tax Attorneys and CPAs is here to serve you with nearly three decades of collective experience in federal tax and business law.
We're committed to bringing you back into federal 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 that you are in good standing with the federal tax authorities.
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. 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 Federal Tax Compliance challenges ardently, be it deliberate or unintentional.
With our deep knowledge in meticulously navigating through the federal nuances of the IRS Voluntary Disclosure Practice, we stand ready to assist businesses in Austin and nationwide, providing invaluable support in leveraging the benefits of voluntary disclosure, even in situations that may appear daunting. Please be advised that while we offer federal tax assistance for clients based in Austin, our legal practice outside of California is strictly limited to federal cases only, but we will coordinate appropriate state representation where necessary.
Whether you have questions about personal or business tax compliance and voluntary disclosure at the federal level or are grappling with inter-state disputes with California, the award-winning tax dual-licensed Voluntary Disclosure Attorneys and CPAs at the Tax Law Office of David W. Klasing are here to provide you with clarity and guidance. Access to our services is as easy as scheduling a reduced-rate initial appointment. Call us at 800-681-1295, and we will be there to address your federal tax concerns.
Federal Voluntary Disclosure in Austin: A Collaboration Between IRS VDP and DOJ
The IRS Voluntary Disclosure Practice (VDP) in Austin provides a crucial pathway for taxpayers who have intentionally failed to adhere to federal tax laws. This practice allows them to amend their previous mistakes without the looming threat of criminal tax prosecution. The IRS meticulously considers voluntary disclosures that are timely, accurate, and comprehensive when deciding whether to recommend criminal tax prosecution for violations of federal tax laws.
Engaging in a voluntary disclosure with the IRS necessitates providing truthful, complete, and appropriate information regarding past non-compliance with federal tax laws. Taxpayers must understand that this procedure is more than admitting past errors. Taxpayers engaging in voluntary disclosure must:
- Commit to paying the federal tax, interest, and any penalties that are applicable in good faith;
- Collaborate with the IRS to ascertain the accurate amount of federal tax liability;
Voluntary disclosure is deemed timely under the following conditions:
- It is made before the IRS initiates a civil audit or criminal investigation related to federal taxes;
- It occurs before the IRS receives information about tax non-compliance from third parties, such as informants, other governmental agencies, or through John Doe summons;
- Note: We have seen the IRS routinely admit taxpayers into voluntary disclosures where we are positive that they have John Doe information on, as a matter of administrative convenience, but this cannot be guaranteed. The trick is to get into a voluntary disclosure before the IRS acts on the information they have obtained via John Doe summons.
- It is submitted before the IRS obtains information related to non-compliance through criminal tax enforcement actions, like search warrants or grand jury subpoenas.
As long as a taxpayer that has willfully committed tax avoidance (potentially including intentionally 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.
Adapting to the DOJ's Corporate Voluntary Self-Disclosure Policy in Austin
In addition to the IRS's Voluntary Disclosure Practice, it is prudent for Austin-based taxpayers to be well-acquainted with the Department of Justice (DOJ) Tax Division's Corporate Voluntary Self-Disclosure Policy. This policy applies to a range of business organizations, except sole proprietorships. However, it is crucial to note that sole proprietors, operating as individuals rather than distinct entities, retain the ability to disclose tax compliance issues through the IRS's VDP voluntarily.
A Collaborative Approach to Tax Compliance in Austin
The recently revised DOJ Tax Division's policy indicates that voluntary self-disclosures of internal revenue laws should be directed to the DOJ's Tax Division. Nevertheless, Austin taxpayers must recognize that disclosures submitted to the IRS under its Voluntary Disclosure Practice are still acknowledged and considered valid. This collaborative framework allows the DOJ and IRS to jointly determine which agency will spearhead the efforts to ensure tax compliance.
The updated policy emphasizes the significance of making timely disclosures and cooperating fully, even if there is a suspicion that the government might already know the taxpayer’s non-compliance. While the complete benefits of voluntary self-disclosure may not be accessible under such circumstances, taxpayers in Austin can still secure reduced tax penalties, evade criminal tax prosecution, and mitigate potential everlasting damage to their reputation.
Get Back into Federal Tax Compliance Without Facing Criminal Tax Prosecution with The Tax Law Offices of David W. Klasing
Navigating the intricacies of tax compliance and voluntary disclosures demands experienced and skillful guidance. Engaging with a seasoned, reputable, dual-licensed Voluntary Disclosure Tax Attorney and CPA is not merely beneficial—it’s indispensable. Attorneys at our office not only safeguard your interests under the Attorney-Client Privilege and Work Product Privileges but Our staff cannot be compelled to testify against you since our Kovel CPAs and CPA candidates are employed by our law firm and they weren’t involved in preparing the tax returns requiring amendments.
Moreover, initiating a noisy voluntary disclosure is a legal task that only an attorney can undertake, steering clear of the unauthorized practice of federal law, which is a criminal offense. Our adept team of dual-licensed Attorneys and CPAs at The Tax Law Offices of David W. Klasing in Austin deeply understands the potential risks and rewards associated with voluntary disclosures, providing you with optimal protection, even if voluntary disclosure isn’t an option for you.
Every case we encounter is unique, with its challenges and nuances. Whether you are grappling with quiet disclosures, noisy disclosures, streamlined disclosures, or issues related to delinquent FBARs or international information returns, our Austin team is prepared to offer comprehensive guidance and craft strategies meticulously tailored to your situation.
We are dedicated to simplifying the process, identifying avenues to alleviate your situation, and meticulously handling each step towards achieving full compliance. If you, as a taxpayer, have inadvertently neglected federal tax responsibilities—including non-filed domestic or international income tax and information returns, coupled with deliberate evasion of payment—and choose to disclose these oversights through a domestic or offshore voluntary disclosure before any IRS action, tax compliance can be seamlessly achieved. This proactive approach provides a safeguard against criminal tax prosecution and often results in reduced civil tax penalties.
David's proven proficiency is now available in Austin, Texas, at our appointment-only virtual 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, and David W. Klasing will travel to any of our satellite offices to meet with you personally. We have designed this service to benefit our clients, with no additional travel expenses added to your bill. Call us at 800-681-1295 or complete our online contact form today.
In addition to our fully staffed 19,700 square foot penthouse office in Irvine, the Tax Law Offices of David W. Klasing has unstaffed (conference room only) satellite offices in Los Angeles, San Bernardino, Santa Barbara, Panorama City, Oxnard, San Diego, Bakersfield, San Jose, San Francisco, Oakland, Carlsbad, Sacramento, Las Vegas, Nevada; Salt Lake City, Utah; Phoenix, Arizona, Albuquerque, New Mexico. We also have virtual offices in New York, New York; Miami, Florida; and Washington, D.C.
Our Austin, Texas (Virtual) office is conveniently located at:
2021 Guadalupe St, Austin, TX 78705
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