IRSMedic: The Law Offices of Parent, Parent & Wynn LLP
Find the clarity you need| Not only is too little information a problem, but being flooded with irrelevant information can be overwhelming. At IRSMedic, we strive to always communicate the most important facts in a language you can understand. The IRS has the ability to tax US persons on their worldwide income; tax problems are possible no matter where you live. At IRSMedic, we have clients on every continent except Antarctica. So, if you’re tired of being confused, you’ve come to the right place.
No judgment, just actionOur dedicated team of tax attorneys, CPAs, ex-IRS, and enrolled agents are focused on getting you your life back. First, we have to let go of what went wrong in the past. Then, and only then, can we tackle the tax problems at hand. We are not a firm that engages in half-hearted attempts. We take a real look at the problem, determine the cause of it, and do everything in our power to make sure that it never happens again.
Always on your sideWhile we have no problems getting along with the IRS, we would be quite happy if the IRS went out of business tomorrow; we have no loyalty to them. If the IRS were to cease existing, we would be able to use our time and expertise to help our clients grow their businesses and reach their full potential. Our loyalty is always for our clients. Their welfare is our primary concern, not whether or not we hurt an IRS employee's feelings. IRSMedic was designed to tackle the toughest, nastiest, grittiest tax problems. We’ve steam-rolled almost every conceivable tax problem before and we’re ready to do it again.
The IRSMedic advantageWe are a law firm that runs like a business. No wasted time, no wasted efforts, just cost-effective legal representation you can rely on. We take care of you so that you’re free to put your focus back on your business. The world is full of surprises - our fees are never going to be one of them. We believe you shouldn’t be caught off-guard by an hourly legal-fee you are obligated to pay. While our upfront fee may not immediately seem the bargain it is – seeing as many firms require a lower initial commitment – it will be a guaranteed price to fix your problem. No hidden fees, no padded bills, just 100% tax-fighting resolve. We’re with you from the beginning until the end.
Tax Amnesty Programs – Not just OVDP
Choosing Your Federal Tax Amnesty ProgramFinding the right program for you depends on your specific noncompliance, what your state of mind was, and what your risk profile looks like. Let's examine some common fact patterns and, because legal issues are involved, a mild warning. It's likely, due to the subjective nature of amnesty programs, that you'll receive a variety of legal opinions from tax attorneys about the advantages and disadvantages of each individual program.
Federal Amnesty for those with tax evasion exposure
Tax evasion is a serious charge, and it's not the same thing as being in noncompliance. Tax evasion requires a motive exceeding either negligence or failure to comply due to overwhelming life events. Seeing as most people engaged in noncompliance weren't actively trying to defraud the US Treasury, it makes sense that not everyone needs an amnesty program for tax evasion. But, because it is such a serious situation, it's necessary to mention certain tax evasion programs. We'll get the worst possibilities out of the way first, and everything after will feel like smooth sailing.
Domestic Tax Evasion Amnesty: Let's suppose you engaged in willful tax evasion -- meaning you intentionally left income off your previously filed tax returns -- for a rather sizable amount. Not only that, but you have no justification for your actions, not even plausible deniability. If this is the case, it's likely to be in your best interests to consider the domestic voluntary disclosure program. This program allows taxpayers to come clean with the IRS through amending the past six years of tax returns and being assessed a penalty based upon the taxes owed. It's worth noting that the IRS doesn't require full payment, only that you make your best efforts to pay your outstanding tax bill.
Offshore Tax Evasion Amnesty: For this program we'll imagine that you engaged in intentional tax evasion, but we'll assume it wasn't that large of an amount. In this case, you may consider entering into the Standard IRS Offshore Voluntary Disclosure Program (OVDP), which means that you'll have to amend the last eight years of tax returns. You can read more on the standard OVDP here. Note: The treatment for international tax noncompliance is MUCH more punitive than for domestic tax noncompliance. In fact, many people enter into the full OVDP not necessarily because they have tax evasion exposure, but because they're at risk of harsh civil FBAR penalties.
Offshore and Domestic Tax Evasion Amnesty: In this case, you would go through the OVDP, requiring an eight-year look-back for your unreported domestic income.
Federal Tax Amnesty Programs for those with little tax evasion exposureMost people having IRS problems aren't necessarily engaging in criminal activity. Yet, they aren't falling in line with that compliance thing the IRS desperately wants. For these individuals, the IRS has a few less serious and less costly amnesty options.
Unfiled Domestic Income: Visit this article for information regarding unfiled tax return forgiveness programs.
Understated Domestic Income: If an attorney does not believe you are at risk for criminal exposure or the the type of case that warrants a voluntary disclosure, it may be in your best interest to simply file amended returns that include previously undisclosed income. The typical look-back period is six-years, but occasionally three years is acceptable.
International Unfiled Returns or Understated Income Amnesty: For those who were non-willful in reporting their overseas income, there are Streamlined Offshore Voluntary Disclosure Programs available.
Back Tax Debts: Owing money to the the IRS for returns you filed is not a crime. For back tax amnesty programs, you'll find this article to be an important read.