Best Tax Attorneys in Los Angeles

FAQs

• Where does the Tax Court hold trial sessions closest to Los Angeles, California?

  For tax cases in Los Angeles, the United States Tax Court holds trial sessions in Rooms 1167 and 1174 of the Edward R. Roybal Center & Federal Building, which is located at 255 E. Temple St., Los Angeles, California, 90012.

• Where is the low-income taxpayer clinic that is closest to Los Angeles, California?

  There are three low-income taxpayer clinics in Los Angeles: 1) Bet Tzedek Legal Services Tax Clinic (323-939-0506), 2) KYCC Low Income Taxpayer Clinic (213-232-2700), and 3) Pepperdine University LITC (213-673-4831).

• When is the deadline for filing personal income tax returns in Los Angeles?

  According to State law, most Los Angeles residents are required to file their income tax returns every year on or before April 15. This deadline applies to a group of individuals depending on their filing status and level of income. For instance, taxpayers aged 65 years or older with an income of $11,700 or higher must file an income tax return. Taxpayers aged below 65 years are required to file if they are earning $10,150 or greater.

• What happens if you fail to disclose your offshore tax obligations in Los Angeles?

  If you fail to disclose your offshore account under the Report of Foreign Bank and Financial Accounts and/or the Foreign Account & Tax Compliance Act in Los Angeles, you can face significant fines and penalties. For instance, you must pay a $10,000 fine if you violate the FBAR. You can also face harsher penalties if you continually exceed the foreign account balance threshold.

• Can you still correct past incomplete or missing FATCA or FBAR filings in Los Angeles?

  If you have inaccurate, missing, or incomplete FATCA or FBAR filings in Los Angeles in the past, you can still correct them by participating in the Offshore Voluntary Disclosure Program or the Streamlined Disclosure Program. However, you must first consult with a tax attorney before joining any of the programs to determine if you qualify for either.

• How does the IRS conduct tax audits in Los Angeles?

  The IRS conducts tax audits in Los Angeles via mail or in-person interviews. If you are asked to undergo a tax audit, it is best to consult with a tax attorney who can assist you with the audit process. Your tax lawyer can also help you deal with tax disputes with the IRS or the California Franchise Tax Board.

• What constitutes offshore assets in Los Angeles?

  Offshore assets are foreign financial assets that taxpayers in Los Angeles own. These may include foreign bank accounts, stocks that are issued by a foreign corporation, notes issued by a foreign individual, and interests in a foreign partnership, a foreign trust, or a foreign estate. Taxpayers who have offshore assets are mandated by law to disclose their foreign account balances to the appropriate regulatory board.