Best Tax Lawyers in Concord, CA

FAQs

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

  The closest Tax Court to Concord s in San Francisco, at Rooms 2-1408, Federal Building & U.S. Courthouse, 450 Golden Gate Avenue (94102).

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

  The Low Income Taxpayer Clinic of the Contra Costa County Bar Association is run by its Justice & Diversity Center. The association is at the One Concord Center, 2300 Clayton Road, Suite 520, Concord, CA 94520.

• What are the indications that someone in Concord is suspected of criminal tax offenses?

  The receipt of a letter from the IRS is an indication in Concord that someone is being investigated for criminal tax offenses. A call from a special agent could follow. The service also sends grand jury subpoenas to any parties that one has transacted with, or to accountants.

• Why is it beneficial to get an estate tax planner in Concord?

  Estate taxes in Concord can consume up to half of the value of a departed's assets. A tax planner is useful for restructuring transfers into non-taxable forms like trusts in order to prevent the collection of gift or inheritance taxes and to reduce the taxable income accumulated by the estate.

• Are all transactions involving capital assets in Concord immediately liable for capital gains taxes?

  Transactions involving capital assets in Concord are not always immediately liable for capital gains taxes. The transfer of real estate that is not routinely held for sale can be done through a 1031 exchange. This involves a swap of one capital asset for another, and the revenue dues for any gains are deferred as long as investments keep pouring in for the asset.

• When is a person with homes in other states considered a resident of California and Concord for tax purposes?

  People in Concord and California are considered residents if they reside in the area for a reason other than temporary purposes. They could have their permanent homes in other states, but if six months are spent in Concord, the presumption is toward residency in the latter for the assessment and collection of taxes.

• Why is it advantageous in Concord to accept offers in compromise?

  The main advantage of accepting an offer in compromise is that a taxpayer in Concord gets a chance to pay a smaller amount than is actually due to the tax collection agency, and the obligation can be settled sooner. One could gamble and sue over the correctness of the assessment, but if the savings are small after the lawyer is paid, it's advisable to compromise.