Los Angeles County, CA Tax Attorney
If you are undergoing an audit, need advice on your taxes, own a small business, or have foreign accounts and investments, you may be able to benefit from talking with a Los Angeles tax attorney about your tax situation. From CEOs and board members to entrepreneurs and investors, even down to families and hobby businesses, our Tax Attorneys, CPAs and EAs are ready, willing and able to help with your tax needs.
If you are being pressured by the IRS, facing an audit, or navigating the tricky requirements of the U.S. Tax Code, it is important to have an experienced and informed tax attorney on your side. For a reduced rate consultation with our Los Angeles County Tax Attorneys, call 800-681-1295 or schedule online today. Do not face the IRS alone.
The Tax Attorneys, CPAs and EAs at The Tax Law Offices of David W. Klasing are able to help you plan your finances and your taxes in a way that maximizes your credits and deductions, and best reduces your overall tax burden. If you run a business or are considering planning your estate, understanding the tax ramifications of your decisions is vital to maximizing your after-tax business profitability or protecting your legacy for future generations.
There are thousands of possible decisions you can make with your wealth, including how to invest it and how to protect it. Many of these decisions have different outcomes when it comes time to pay income and estate taxes. In many situations, the best business decision is the one that best protects your finances from current and future taxation. Additionally, sometimes the best estate planning protects your assets from probate, and passes them to your heirs without the need to pay hefty estate taxes. Talk to an Estate and Income Tax Planning Attorney about your options.
Foreign Account Disclosures and International Taxation
If you have money in an offshore or overseas bank account, mutual fund, or another type of investment account, the U.S. government demands to know. U.S. law regulates domestic financial institutions, like banks, credit unions, and other FDIC-protected entities. This means the IRS can access records if they need to, and U.S. tax law has required 1099 reporting over investment income, and the other taxable returns on investments. However, if your accounts are overseas, the U.S. government may not have information on them, and requires that they be provided this info through the numerous foreign information reporting requirements.
The common foreign information reporting requirement many American’s may be familiar with is commonly referred to as an “FBAR,” which stands for Report of Foreign Bank and Financial Accounts. The IRS requires you to submit an FBAR if you own or have signature authority over any foreign financial accounts with a combined balance in excess of $10,000 U.S. at any time during the tax year. In addition, the Foreign Account Tax Compliance Act (FATCA) has additional requirement disclosures, usually involving the submission of IRS Form 8938. If you have any international accounts, businesses or investments, it is vital that you talk to an International Tax Attorney about your foreign information and income tax reporting obligations and fulfill all legal requirements. Failing to do so could mean high fines and criminal penalties are possible for willful nonreporting.
Tax Audit Defense
If you are undergoing a tax audit in Los Angeles County, talk to our Tax Lawyers, CPAs and EAs right away. Our firm can help you determine the reason for the audit, and help you assemble the records and documentation to justify your tax filings. In the event that taxes need to be corrected or amended, our attorneys can help with that as well. We can also stand between you and the IRS, and work to protect you from unjust accusations and harassment.
One, admittedly rare, outcome of an IRS audit is the determination that your taxes were accurate and correct – and it is our goal to help convince the IRS that this is the case where appropriate. More commonly, if the IRS determines you owe taxes, penalties and interest after their audit, our Tax Attorneys can help fight to convince the IRS to agree to an installment agreement or fight any unjust tax determination through the IRS appeals and litigation process.
IRS Tax Audit Appeals in Los Angeles County
If you disagree with the outcome of an IRS tax audit, you do not necessarily have to accept the initial determination. Depending on the circumstances, it may be possible to dispute the IRS’ findings by appealing the results of your audit. To begin the IRS tax audit appeals process, you must prepare either a written document referred to as a “written protest” or “protest letter” or a tax court petition. Your Los Angeles Tax Lawyer can help to ensure that your protest letter or tax court petition is worded effectively and contains the appropriate content, including an explanation of which findings you dispute, your reasons for disputing the findings, and any relevant facts and laws which strengthen your position. Because the appeals and litigation process can be complicated and confusing for taxpayers, it is in your best interests to make sure you have the benefit of legal representation by a knowledgeable and experienced tax attorney in Los Angeles County.
Los Angeles County Tax Crimes
If you think you may be charged with a criminal tax offense, such as willful failure to file or tax evasion, it is vital to talk to a Criminal Defense Tax Attorney as soon as possible. Where possible, our Lawyers, CPAs and EAs may be able to help you file the proper paperwork to amend prior returns, pay back taxes, and correct prior misrepresentations through a domestic voluntary disclosure in order to effectively mitigate the potential of facing criminal prosecution for previous tax filings.
Experienced LA County Tax Lawyers
The Tax Attorneys, CPAs, and EAs at the Tax Law Offices of David W. Klasing may be able to help you with a wide array of tax needs and services. For a reduced rate initial consultation on your case, contact our lawyers at 800-861-1295 or reach out to us online today. Our LA County offices are located on Wilshire Boulevard in Los Angeles, or on Roscoe Boulevard in Panorama, City. Schedule your consultation at a convenient southern California location today.