IRS AUDIT? IRS LIEN? IRS LEVY?
STATE TAX PROBLEMS?
OFFER IN COMPROMISE?
LAS VEGAS TAX ATTORNEYS
Let’s face it. Sometimes understanding and filing your taxes isn’t as easy as it seems. Most of our clients come to us in need of some serious help to get their lives and their businesses back on track. Here at Tax Law Center LLC our Las Vegas tax attorneys have seen it all. Many of our clients have come close to losing everything from their life savings to their families. We’re here to help you get your life back on the right tax track quickly and efficiently.
We are able to assist you with your IRS problems nationwide. We can assist you with state tax issues in surrounding communities in Summerlin, North Las Vegas, Henderson, Green Valley, Anthem, Boulder City, Pahrump and Northern Nevada, Utah, Arizona and California.
- Former IRS Senior Trial Attorney.
- Over 50 combined years of tax law experience.
- All attorneys are AV Preeminent® Rated by Martindale-Hubbell Peer Review Ratings.
- Chosen by peers as Super Lawyers .
- All attorneys hold advanced, specialized degrees in Tax Law.
- 10.0 AVVO Rating
How We can Help You Resolve Your Tax Problems
offers in compromise
We can prepare and negotiate an Offer in Compromise, where collectibles or liability are in doubt, reducing what you owe to what you can pay.
We have successfully saved our clients over $54,000,000 under the Offer in Compromise program exclusive of penalties and interest.
IRS and state tax audits
We will analyze the audit letter and help you respond to IRS or state taxing entity’s requests for documentation. We will represent you at your audit, presenting documents and making persuasive arguments supporting your position. If necessary, we can prepare a Protest of your Audit results and represent you before Appeals.
internal revenue service
We will help prepare financial statements to most beneficially demonstrate your financial condition. We will handle all communication with Automated Collection Service. We may ave you classified “Currently Not Collectible,” so the IRS will withhold collection enforcement action until you earn enough money to make payment. We can negotiate Installment Payment Agreements to free you from worry about collection enforcement action and establish a monthly payment plan. We represent clients who contest employment tax assessments, based on the issue of whether a worker is an employee or independent contractor. We represent responsible officers.
innocent spouse defense
We can assist you with those cases when “happily ever after” isn’t so happy. If the below describes your situation, we can help:
- The taxes owed are your spouse’s or ex-spouse’s.
- You are no longer married to that spouse.
- You thought your spouse would pay the taxes on the original return.
- You didn’t know about the items changed in the audit.
- You would suffer a financial hardship if you were required to pay the tax.
- You would not be able to pay for basic living expenses like food, shelter, and clothing.
- You did not significantly benefit (above normal support) from the unpaid taxes.
- You suffered abuse during your marriage
Offshore Voluntary Disclosure
In January 2012, the IRS announced a new Offshore Voluntary Disclosure Program (OVDP) available to taxpayers with undisclosed foreign assets. The 2012 OVDP is similar to the IRS’ 2009 OVDP and 2011 OVDI, but the 2012 OVDP is (for the time being) open-ended.
The 2012 OVDP is designed to allow taxpayers to come clean with the certainty that they will not face criminal prosecution for not previously disclosing their overseas accounts. Taxpayers have the added benefit of receiving a fixed penalty structure for settlement of past non-compliance.
In order to enter into the Offshore Voluntary Disclosure Program, taxpayers must: Provide copies of previously filed original (and, if applicable, previously filed amended) federal income tax returns for tax years covered by the voluntary disclosure; Provide complete and accurate amended federal income tax returns for all tax years covered by the voluntary disclosure; File complete and accurate original or amended offshore-related information returns, including Form TD F 90-22.1 (Report of Foreign Bank and Financial Accounts, commonly known as an “FBAR”) for tax years covered by the voluntary disclosure; and cooperate in the voluntary disclosure process, including providing information on offshore financial accounts, institutions and facilitators, and signing agreements to extend the period of time for assessing liabilities and FBAR penalties;
In exchange for their voluntary compliance and information exchange, taxpayers will be assessed a miscellaneous penalty in lieu of all other penalties that may apply to their undisclosed foreign assets and entities, such as FBAR and offshore-related information return penalties and tax liabilities. Generally speaking, the miscellaneous penalty is equal to 27.5% of the highest aggregate balance in all foreign bank accounts (or foreign assets) during the period covered by the voluntary disclosure. Additional penalties on the taxpayer’s unreported income during the disclosure period may also apply, as well as penalties for failure to file a tax return or pay tax due, if applicable.
On June 18, 2014, IRS announced significant changes to the 2012 OVDP program, including an expansion of the streamlined filing procedures introduced in 2012. According to IRS, the revisions are intended to allow more taxpayers to participate and to better account for taxpayers who have failed to disclose foreign accounts but didn’t willfully evade their tax obligations. For eligible U.S. taxpayers residing in the U.S. the only penalty under the streamlined procedures will be a miscellaneous offshore penalty equal to only 5% of the foreign financial assets that gave rise to the tax compliance issue.
The attorneys at Tax Law Center have experience navigating both the 2011 and 2012 offshore disclosure programs and the more recent June, 2014 changes. In addition, there are alternative methods of disclosure to comply with the law while avoiding the harsh penalty framework of these voluntary programs. If you have unreported assets overseas and are concerned that you may have outstanding FBAR or other offshore asset filing requirements, schedule a consultation with the experienced tax attorneys at Tax Law Center today.