A Real Estate Professional & a Small Business Owner

Our clients, a real estate professional and small business owner, retained us when they were audited by the IRS. The IRS disallowed most of the clients’ business expenses and alleged unreported income. The IRS proposed to assess against these individuals additional tax liabilities of $41,970 and $9,302. Since it was our position that the auditor erroneously proposed to increase our clients’ income tax liabilities, our firm petitioned the United States Tax Court and requested a redetermination of the auditor’s finding. Through very difficult negotiations, we presented evidence and arguments that the IRS conceded the majority of its position, and reduced the tax assessments from the original proposed assessments of $41,970 and $9,301 to $6,120 and $545 respectively.

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 to the right.

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