Offer in Compromise: State of California Income Tax

Success & Experience

Audit Representation

• (lifestyle): IRS Alleges Unreported Income
• Real Estate for Business Purpose
• Defense of a Private Foundation

Commercial / Corporate Representation

• Disallowed Deductions
• Commercial Litigation
• Corporate Representation: Back Payroll Taxes, Avoiding Payroll Tax Problems

Controversies and Litigation

• Commercial Litigation
• Corporate Representation: Back Payroll Taxes, Avoiding Payroll Tax Problems

Criminal Representation

• Avoid Criminal Prosecution
• Avoiding Criminal Prosecution
• Criminal Representation: Bribery, Racketeering, Wire Fraud
• Federal Criminal Representation

Federal and State Tax

• Levy Release
• Examples of recent legal opinions rendered
• Examples of recent Private Letter Rulings Obtained
• Examples of recent Closing Agreements

IRS Audit

• Tax Return Preparer
• Favorable Settlement
• Incorrect Reporting of Stock Options
• Disallowed Mortgage Interest Deduction
• Reduction of Tax Liability
• Timing is Everything

Municipality Representation

• Municipality Representation: Deferred Compensation Plan Compliance

Offer In Compromise

• Federal Income Tax
• State of California Income Tax
• Offer in Compromise
• Client keeps business doors open while settling tax debt

Personal

• Disallowed Mortgage Deduction
• The Miscalculated Income
• The Unwelcome Auditor
• The Flood
• The Innocent Spouse

Real Estate Professionals

• Significant Losses in the Trade
• A Real Estate Professional & a Small Business Owner

Refund Representation

• Disallowed Numerous Losses
• Numerous Foundations in the Cayman Islands

Tax Court

• Disallowance of Expenses
• Losses in a Ponzi Scheme
• Significant Losses in a Ponzi Scheme
• Tax Shelter
• The Tax Bill
• The Audit Gone Wrong
• Business expenses, business use of aircraft and/or flights
• The Unreasonable Auditor
• The Real Estate Professional

 

Clients originally owed the California Franchise Tax Board (FTB) $233,000 of income tax for tax years 1994, 1995, and 1996.

We first negotiated a deferral or hold on collections giving our clients time to attempt to obtain alternative financing to pay off the liabilities. When financing was denied, and after that deferral expired, we entered negotiations with the FTB for an Offer in Compromise (OIC). The FTB settled the liability for a lump sum payment of $50,000 which represents a reduction of total liability by $183,000.

The results portrayed in the cases mentioned above were dependent on the facts of that particular case, and the results may differ if based on different facts. The case study and/or success stories shared herein are for informational purposes only. It is not intended to and does not constitute legal advice. For more information please call 1∙888∙TAX∙DEAL or (415) 394-7200 or complete our contact form.