Irvine Tax Attorney
Understanding and applying the tax code can be an extremely difficult endeavor. Unfortunately the consequences of a failure to understand and adhere to one’s tax obligations can result in serious consequences not limited to fines, penalties, or even prison time. However it seems that the tax code continues to become more and more complex making it more difficult for business owners to successfully navigate their obligations alone.
Fortunately in Irvine, The Tax Law Office of David W. Klasing offers trusted services for individuals and business owners in Los Angeles and Irvine California. As an Irvine tax attorney and Certified Public Accountant (CPA), David W. Klasing is equipped to handle your issue regardless of whether it is predominately an issue of accuracy or one of advocacy. You can rest assured that your problem will be addressed professionally and strategically thanks to David Klasing’s more than 20 years of tax experience.
Defense for Criminal Tax Proceedings and IRS Audits
Tax offenders are prosecuted aggressively by the State of California and the United States government. Depending on the prosecutor’s ability to show your state of mind at the time of the non-disclosure or mischaracterization, you could be facing significant fines or years of jail time. In fact, for each willful instance where you failed to provide information or pay taxes that you were obligated to pay, up to one year in prison or up to $25,000 in fines can be imposed. An Orange County tax attorney can also handle an array of other tax matters in Irvine including:
- IRS criminal investigations
- Tax evasion
- Payroll tax fraud
- Voluntary offshore disclosure (OVDI)
- FBAR compliance
- Tax reporting compliance
Irvine Estate Planning
Orange County estate planning can be a particularly complex endeavor; this is especially true for individuals with a large amount of assets scattered across a number of countries and jurisdictions. This patchwork of tax codes and regulations must be understood and reconciled to avoid the potentially harsh consequences of tax fraud or failing to make required disclosures. Onside a local Irvine tax litigation attorney that can handle all aspects of international estate planning that can often include:
- Preparation of a will or other testamentary document
- Devising trusts
- Strategic use of gratuitous transfers like gifts
- Determining the status of potential heirs
- All other international tax considerations
Furthermore, if you have foreign accounts or entities that do not comply with the Foreign Account Tax Compliance Act (FATCA) Klasing & Associates can assist you with the Offshore Voluntary disclosure Initiative (OVDI). If you have assets that do not comply with FATCA, participating in the OVDI program can help you avoid avoid prosecution while calculating what it will take to resolve your foreign tax concern. Furthermore, we can help you understand your Foreign Bank Account Report (FBAR) obligation and avoid a potential 25 year jail sentence and up to $500,000 in fines.
Tax services for Irvine Businesses
Preparation of California business taxes can be a daunting proposition for even an experienced business owner. The Tax Law offices of David W. Klasing can work with S and C corporations, general and limited partnerships, LLCs, LLPs, sole proprietorships, 501(c)(3) and 501(c)(4) organizations. We can address the tax impacts of an acquisition, sale, dissolution of a business, mergers and many other transactions. If you have also received notice from the IRS, it may warrant a consultation with an experienced Irvine tax attorney .
Whether you’re seeking advice regarding a business transaction, your tax disclosure requirements, or whether you are a good fit for the OVDI program, The Tax Law Offices of David W. Klasing can address your concerns. Our Orange County law firm office, is located conveniently in Irvine. To schedule a consultation, call (800) 681-1295, or contact us online.