$2,100,000 Tax Debt Reduced to $7,417
Represented taxpayer who owed the IRS approximately $2,100,000. Tax debt was reduced to $7,417 through an accepted offer in compromise.
Audit Reconsideration – Tax Assessment Reduced by Over $150,000
The Taxpayer was audited and the IRS determined that the Taxpayer did not report taxable income from the sale of their home. The Taxpayer did not respond to the audit and did not file a Petition in U.S. Tax Court after the IRS issued a Notice of Deficiency. DeWitt Law represented the Taxpayer before the IRS and filed an Audit Reconsideration claim challenging the tax assessment. The IRS reversed the…
10 Years of Unfiled Federal Income Tax Returns
Client informed DeWitt Law that they had not filed a federal income tax return since 1995. DeWitt Law prepared Client’s tax returns and represented Client before the IRS to prevent levy/garnishment action while the returns were being prepared/processed and resolve all outstanding tax debt through an installment agreement.
Streamlined Domestic Offshore Procedures (United Kingdom)
A dual citizen of the U.S. and United Kingdom (“Client”) held bank accounts, pension accounts, life insurance accounts, and an investment account in the United Kingdom in excess of $10,000 while a dual citizen for 11 years. Client was not aware of their U.S. tax reporting requirements for foreign assets and never reported taxable foreign income on their U.S. tax returns. Client also failed to file FinCEN Form 114 Report…
DeWitt Law Wins on Direct Appeal Before Arkansas Supreme Court
DeWitt Law represented an Arkansas couple (the “Taxpayers”) before the Arkansas Supreme Court to challenge a judgment for additional Arkansas income taxes entered against the Taxpayers by the Garland County Circuit Court. The Arkansas Supreme Court held in favor of the Taxpayers by reversing the judgment and remanding the case back to the trial court. The issue on appeal centered on whether the Arkansas Department of Finance and Administration (“DFA”)…