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We Advise Companies and Individuals Regarding Complex Domestic and International Tax Matters
State, federal, and international tax compliance presents significant challenges, and non-compliance presents significant legal risks. While companies and individuals can—and should—take steps to minimize their tax liability to the fullest extent permitted by law, they must also be careful to avoid underreporting and underpayment. When executing complex tax mitigation strategies, companies and individuals should carefully document the justifications for their efforts. This will help them withstand scrutiny from the Internal Revenue Service (IRS) and other taxing authorities if necessary.
Our lawyers provide experienced legal representation for domestic and international tax matters. Within our tax law practice, we represent both businesses and individuals—including certified public accountants (CPAs), professionals, and other high-net-worth clients. We help our clients take a proactive approach to minimize their tax liability while complying with all pertinent tax laws, and we represent our clients during interactions with the IRS and other taxing authorities when needed.
Our Tax Law Practice
Our broad tax law practice encompasses the representation of businesses and individuals domiciled both in the U.S. and abroad. Our lawyers represent clients in areas including:
Corporate and Partnership Law
Corporations, partnerships, and limited liability companies (LLCs) need to prioritize tax compliance. The IRS has made enforcement of the Internal Revenue Code’s corporate tax provisions a priority in recent years, and the IRS’s Small Business/Self-Employed Division focuses specifically on enforcing compliance among businesses with $10 million in assets or less. The IRS pays close attention to large business and international (LB&I) tax filers as well, and it regularly initiates audits focused on uncovering improper deductions, employment tax violations, and other forms of corporate tax fraud.
We advise business owners and executives regarding tax compliance and tax mitigation strategies, and we assist businesses in dealing with the IRS as well. Whether you have questions about what your company can do to minimize its tax liability or you have concerns about facing IRS scrutiny, our lawyers can guide you forward.
International Tax Law
We also have particular experience in the area of international tax law. Our lawyers advise companies and individuals regarding offshore tax mitigation strategies, tax compliance for overseas assets, and FATCA and FBAR compliance for foreign financial assets and accounts. This is a particularly complex area of the law, and violations can trigger civil or criminal scrutiny depending on the circumstances involved. We assist our clients with voluntary disclosures and utilization of the IRS’s Streamlined Filing Compliance Procedures for foreign financial asset disclosures as necessary as well.
Complex Tax Planning
From moving assets and income offshore to establishing conservation easements and donating funds to charitable organizations, there are various tax planning strategies that companies and individuals can use to limit how much they pay to state, federal, and international taxing authorities. With decades of tax law experience, our lawyers provide comprehensive complex tax planning services—helping our clients leverage all available opportunities to reduce their income, property, gift, and estate tax liability.
When engaging in complex tax planning, companies and individuals need to make informed decisions in order to maximize the benefits of their tax mitigation strategies. At Shin Law Firm, we help our clients make these decisions, and we provide them with the insights they need to maintain compliance on an ongoing basis.
Non-Profit Tax Law
Non-profit entities are entitled to unique tax benefits under the Internal Revenue Code (IRC). We represent charitable, religious, and political organizations, private foundations, and other non-profits that qualify for these benefits under Section 501(c)(3) and other provisions of the IRC. Our lawyers assist non-profit entities with securing tax-exempt status, preserving their non-profit tax exemptions, general tax compliance, and other tax matters.
IRS Tax Matters and Compliance
We represent individuals, businesses, and non-profit entities in all IRS-related matters. This includes managing reporting and payment compliance, dealing with IRS audits, submitting offers in compromise, negotiating tax settlements, submitting voluntary and streamlined disclosures, and handling all other federal tax issues for our clients. Whether you need to resolve a tax issue before it triggers IRS scrutiny or you are currently facing an IRS inquiry, our lawyers can help you make informed and strategic decisions, and we can deal with the IRS on your behalf.
Depending on the circumstances involved, federal tax law violations can have consequences ranging from liability for back taxes, interest, and penalties to the possibility of facing tax fraud allegations in federal court. But, by working to resolve IRS tax matters proactively, it is possible to avoid these consequences in many cases. At Shin Law Firm, we work quickly to protect our clients when necessary, and we rely on our decades of experience to help resolve our clients’ tax controversies as quietly and favorably as possible.
Deferred Compensation
The IRC establishes strict rules regarding the timing of tax liability for deferred compensation. These rules can be difficult to navigate, and it isn’t always easy to know when deferred compensation triggers a reporting or payment obligation. Our lawyers have particular experience advising clients regarding deferred compensation arrangements, and we can explain everything you need to know—whether you are negotiating a deferred compensation plan or have questions about preparing your returns.
Tax Planning for Ultra-High-Net-Worth Clients
A significant portion of our tax law practice is devoted to assisting ultra-high-net-worth clients with tax planning. For high-net-worth individuals and couples, strategic tax planning can result in substantial tax savings across the board—from income and capital gains tax to gift and estate taxes. Our lawyers work with our clients one-on-one to identify their opportunities, evaluate their options and choose the most strategic path forward.
Contact Shin Law Firm for a Complimentary Consultation
If you would like more information about our tax representation for companies or individuals, we invite you to get in touch. To speak with an experienced tax lawyer at our Orlando, FL law offices in confidence, please call 407-730-7814 or tell us what we can do to help online today.