What We Do
We are tax lawyers and tax accountants. We resolve individual and corporate tax problems for state, federal, and international clients. We focus exclusively on taxation: federal, state and international, with an emphasis on international and state taxation. Our services cover all areas of taxation, including:
- Tax Planning
- Representation Before IRS, State Taxing Authorities and the Courts
- Preparation and/or Review of Tax Returns
- Preparation and Review of FBARs and other Foreign Financial Disclosure Forms
What Makes Us Different?
We have clients throughout the United States and around the world. Why do clients seek us out? Briefly, we are an established, highly experienced tax law firm and we provide our clients with peace of mind along with a highly professional work product.
- Our broad and deep experience in areas such as tax planning, tax dispute resolution, and tax return preparation often makes the difference between a truly outstanding tax result and a merely acceptable tax result.
- We are established. Our firm was established over ten years ago, on January 1, 2005, and moved to the Landmark Building, 160 Federal Street, Boston in September of 2005.
- We provide value. When conducting tax audit and penalty defense, we typically attempt to provide a ratio of three dollars’ reduction in taxes, penalties and interest for each dollar paid to us in fees. When preparing income tax returns and disclosure returns (such as FBARs) we understand that our client’s reputation and professional licenses depend upon timely, carefully documented professional work.
Full Cooperation with Existing CPAs and Attorneys
We cooperate fully with our client’s existing CPAs and attorneys and work with them as part of the team. In larger cases, the tax defense team may include the client or a member or the client’s staff, the client’s CPA and the client’s attorney.
Why Do Our Clients Use Our Tax Preparation Services?
Our clients use our services for a number of reasons.
1. Our clients value peace of mind.
Experience matters. In complex tax situations, there is no single “answer.” Rather, there are a range of answers. Our experience allows us to weigh the ambiguities and pick the answer that results in a strongly defensible return that will withstand a tax audit by a determined auditor. Importantly, we have the proven ability to provide strong and competent tax audit defense.
2. Some clients cannot afford to make even seemingly trivial mistakes on their income tax returns.
Seemingly trivial violations of the tax and financial reporting rules have derailed careers. For example, more than one career has been derailed by the failure of a professional to report the so-called Nanny Tax. Professionals and business people at the top of their professional cannot afford even the slightest whiff of a scandal. Such client do well to seek us out since our professional obligation is to minimize their tax obligations.
3. Our clients cannot afford to ignore seemingly obscure foreign financial disclosure documents.
The unintentional failure to comply with the disclosure of financial assets held outside the United States is particularly unforgiving:
- The unintentional failure to comply with the Bank Secrecy Act (FBARs: FinCEN Form 114) can result in penalties equal to 5 percent of the amount of the unreported assets.
- The failure to disclose interests in controlled foreign corporations, foreign partnerships and foreign trusts and estates start at $10,000 per incident per year.
4. Some of our clients were recently audited and want to minimize the chances of a reaudit.
Taxpayers involved in so-called “productive audits” are often get posted on a triennial cycle for periodic reaudit. Taxpayers who receive a “no change” the second time around are taken off the reaudit cycle. Thus, some clients will use our services since they want to avoid reaudits.
- Note: While the reaudit parameters are closely guarded secrets, doesn’t it stand to reason that if a prior audit was “productive,” the government will reaudit the same taxpayer again? Indeed, it is sometimes possible to avoid a reaudit by simply telling the auditor that the return was recently audited and the auditors accepted the return as filed, without change.
5. Some clients have sophisticated on-going needs.
We work with clients who have on-going needs that are not properly serviced by other tax return preparers. The typical tax preparation houses may lack the appropriate sophistication, especially in the area of foreign reporting of income and assets. In contrast, tax return preparers with the appropriate sophistication may lack the time to deal with the tax returning requirements of individuals who are not already associated with significant businesses.
6. Some clients need help for only a single taxable year.
Some clients enjoy preparing their own income tax returns. Occasionally, unusual situations arise when it is easier (and often cheaper) to hire a professional. Examples of unusual situations include section 1031 exchanges; moving to a new state and professors on sabbatical. These examples are explained below.