Best Tax Attorneys in Lexington

FAQs

• Where does the Tax Court hold trial sessions closest to Lexington, Kentucky?

  The sole tax court covering Lexington and all of Kentucky is in Louisville, Room 440, Gene Snyder Courthouse-Custom House, 601 W. Broadway Street (40202).

• Where is the low-income taxpayer clinic that is closest to Lexington, Kentucky?

  The Center for Great Neighborhoods LITC in Covington serves Lexington. It is located at 321 MLK Blvd//W. 12th Street Covington, KY 41011, and is reachable by phone at 859-491-2220.

• What cases are heard by the Internal Revenue Service Independent Office of Appeals in Lexington?

  The Internal Revenue Service Independent Office of Appeals hears Lexington-based cases that involve audits and examinations of alleged deficient returns. It processes claims for refunds and collection appeals, including the propriety of offers in compromise and violations of due process during assessment. The body also works on claims for refunds.

• What are offers in compromise in Lexington?

  In Lexington, an offer in compromise is a proposal from a taxpayer to pay less than the total amount due because there is an inability to pay the full sum. It is proper when there is a low probability that the full price of the assessment can be paid, which can lead to discounts and waivers of penalties and principal payments.

• Who are the heirs and legatees in Lexington who are completely exempt from inheritance taxes?

  The heirs and legatees in Lexington who are totally exempt from inheritance taxes are the closest members of the decedent's family. These are the surviving spouse, children, parents, grandchildren, and siblings of full and half blood. Other relatives have fewer exemptions, and the further along the family tree a person is from the departed, the more taxes are owed.

• In Lexington, what conclusions can a tax audit have?

  A tax audit in Lexington can conclude that a taxpayer underpaid taxes and has to make up the difference by paying the principal plus interests and penalties. This is appealable if the person notes errors in the government's process or findings. The second potential outcome is that everything is in order and that the amount of dues paid was proper.

• In Lexington, what activities of interest do the Internal Revenue Service Criminal Investigation Division prioritize?

  The Internal Revenue Service Criminal Investigation Division prioritizes financial crimes that have to do with narcotics and various illegal sources of income like racketeering. It also looks into terrorist organizations and the underreported taxes from legitimate businesses because the latter has penal law implications though the money is technically clean.