IRS Tax Audit Attorneys: Page Contents at a Glance

When you receive notification of an audit from the IRS, your first instinct may be to panic. An audit is a frightening situation; if it does not go in your favor, you could be facing tax penalties, interest payments and criminal charges. The thought of it can cause many sleepless nights. That’s where an IRS tax attorney can help.

When faced with an audit, individuals are often tempted to agree to whatever the IRS asks, usually to make the situation disappear. This will rarely work out in the taxpayer’s favor.

Individuals should first consult with a tax audit lawyer. A skilled IRS tax attorney specializing in audits provides advice to taxpayers regarding their rights, ensuring the IRS does not take advantage of fear and lack of knowledge about the intricacies of federal tax laws.

IRS tax audit attorneys will study the financial and tax situation of their clients and utilize it to create a defense strategy. The defense in use should be different for an individual taxpayer versus a business taxpayer, for example.

The goal of any IRS tax attorney is to take the facts in the audit case and present them in a way that makes the most sense for a particular defense. The audit lawyer will try to lower the amount of tax owed, as well as interest on back taxes and any penalties and fees associated with the case.

You can be certain the IRS will be aggressively pursuing a conviction in your case, spending plenty of time and resources to garner the full judgment against you. You need to prepare your defense with the same vigor and urgency. An experienced tax audit lawyer knows how the IRS attacks in cases like this, leading to the creation of a more effective defense strategy.

If the IRS is seeking criminal charges against you and accusing you of deliberately evading your tax liabilities, you will want an IRS tax attorney on your side. If you instead rely on a CPA to defend you in an audit, you will not receive the full level of defense you need in a criminal case.

For help with any tax situation, from tax planning to crafting an IRS audit defense, contact the Tax Law Offices of David W. Klasing to schedule a 10-minute call with an experienced IRS tax attorney. We are a team of tax attorneys and CPAs, which gives us full knowledge of all tax laws and tax situations. Let us provide the legal and financial guidance you need, whether you are an independent taxpayer or a business.

How Can a Tax Attorney Help Me?

Hiring a dually licensed California Tax Attorney and CPA to handle your personal or business tax returns could seem like overkill if you are used to managing your tax affairs alone or with the help of a lesser qualified tax advisor & preparer. Nevertheless, there is a heap of benefits to be gained by working with a tax law office that is experienced with a broad range of beneficial or detrimental tax law issues that may apply to you. Here are some reasons that will highlight why you should consider hiring the Tax Law Offices of David W. Klasing for all your tax planning, compliance, and controversy needs.

Assistance with Tax Compliance, Planning and Controversy Representation

If your business or personal income taxes are becoming too costly or complex for you to easily manage with or without the assistance of your current tax advisor / preparer, there is a higher chance that you could make a costly tax planning or tax filing error. Whether a serious error on an income tax return is accidental or intentional can put your very liberty, livelihood, and net worth at risk. The very presence of an error invites unwelcomed scrutiny by the IRS or by the various State Taxing Authorities.

Fortunately, our firm is highly skilled in tax planning and compliance and controversy defense of trusts, estates, domestic or international businesses as well as individual income tax returns. Each available entity type has tax advantages and reporting challenges from C and S Corporations to Partnerships or Limited Liability companies which ties in well with our entity formation services which are very advantageous to you when starting or expanding a new or existing domestic or international business.

We can help you accomplish your tax planning and compliance goals in several ways. For example, if you are having difficulty accurately accounting for your taxable & reportable income, we will work diligently to minimize the risk of being audited for a reporting error stemming from faulty accounting by producing accurate books. Additionally, we are intimately familiar with the common triggers for an income tax audit and how to properly substantiate a tax return to bolster the odds of being able to successfully face a Federal or State income tax audit with little to no assessment of additional tax, penalties, and interest by the taxing authorities and thus help avoid or end a pattern of repeating audits.

Additionally, if you have earned or received income related to foreign financial accounts, offshore businesses or investments, or foreign trusts, gifts, or estates, we understand how to navigate the complicated process of reporting the foreign income and staying in compliance with the numerous foreign information reporting requirements. You can trust us to offer you the legal and accounting services you need and deserve to avoid facing draconian civil and criminal penalties related to foreign account holdings, foreign assets and the related tax and information reporting.

Compliance with New Tax Laws

With new regulations being passed practically every year and a complete overhaul of the tax system implemented by the Trump administration expected by the Biden Administration, it is nearly impossible for a layperson to ensure they are always compliant with new rules. Our dually licensed California Tax Attorneys and CPAs keep a close eye on new tax law developments that have the potential to affect our clients. For example, if you engage in the trading of virtual currencies, we will provide you with the tools you need to make sure you comply with the slew of new regulations for these currencies to the extent possible.

Minimizing Tax Liability

The goal of tax planning for an individual or a company is to minimize tax liability as much as possible. Our firm could help you with the following methods for reducing tax liability:

• Selecting tax efficient investments
• Claiming deductions that you qualify for
• Tax-loss harvesting from investment losses.
• Maxing out a 401(k), profit sharing, defined benefit plans
• We will examine the unique circumstances of your tax liabilities and identify a tax plan that works for you.

Legal Representation for a Tax Audit

Whether it is being performed by a State Taxing Authority or the IRS, a tax audit is not a welcome experience for any taxpayer. There is a myriad of reasons that your tax returns might have triggered an audit. For instance, if you reside in California but are employed by a company in a neighboring state, this will increase the risk of being audited as you will face taxes in two different states.

In some cases, a taxpayer may be unfortunate enough to face a state and federal audit because of a tax-reporting error that has cascaded into additional issues.

When facing a state or federal tax audit, you want to know that you have legal representation that will do their best to defend you. The dually licensed California Tax Attorneys and CPAs at our firm are experienced in representing clients in multiple types of civil, eggshell, and reverse eggshell tax audits. We are intimately familiar with the process of state and federal tax audits and are available to speak with you about your tax audit woes.

Experience with the US and Foreign Tax Regulations

The U.S., unlike many other countries, taxes its citizens and residents on worldwide income. For a taxpayer, keeping track of every dollar in foreign and domestic financial accounts could be extremely stressful when it comes time to file taxes. Trust us to inform you on how to deal with the U.S. and foreign tax regulations that affect your tax returns.

Skilled at Negotiation Surrounding Back Tax Debt

Whether you owe large amounts of taxes to the IRS or the California Franchise Tax Board, you could likely benefit from a collection alternative that could ease your tax debt liability. However, a taxpayer who is not familiar with the collection alternatives allowed by the IRS or the FTB to satisfy a back tax debt may miss their chance to negotiate an offer in compromise, get placed into currently non collectible, file for tax motivated bankruptcy or other collection alternative. The dually licensed California Tax Attorneys and CPAs at the Tax Law Offices of David W. Klasing are here to help you negotiate a favorable outcome to your back tax debt.