Top Tax Lawyers in Lake Charles, LA

FAQs

• Where does the Tax Court hold trial sessions closest to Lake Charles, Louisiana?

  Residents of Lake Charles can go to two Tax Court trial locations in Louisiana. One is located in New Orleans, Room 212 of the U.S. Customs House at 423 Canal Street. As of the moment, there is no permanent courtroom in Shreveport where trials of small tax cases take place.

• Where is the low-income taxpayer clinic that is closest to Lake Charles, Louisiana?

  The low-income taxpayer clinic that is closest to Lake Charles is in New Orleans, at the Southeast Louisiana Legal Services LITC at Poydras, Suite 600. You can also contact them at (504) 529-1000 or toll-free at (877) 521-6242.

• Can you remove a tax lien on your assets in Lake Charles?

  Yes, you can remove a tax lien on your assets in Lake Charles by submitting an application for a Federal Tax Lien release to the Internal Revenue Service. To remove a tax lien, you may do any of the following:

  • Make a partial payment of at least as much as the value of the tax lien to the IRS.
  • Submit another piece of property valued at double the amount of the tax debt in lieu of your personal residence.
  • Send the proceeds from the sale or refinance of the property to the IRS.
  • Establish that the property has no value to clear tax debt.

• How does the Internal Revenue Service select audits for returns in Lake Charles?

  Tax returns in Lake Charles are selected for IRS audits through various methods, such as a computer-generated scoring system, matching programs, and information received from sources such as newspaper reports or criminal activity records. Other methods include informants of potential tax fraud, prior IRS audits, and random selection. The Internal Revenue Service conducts audits on returns, even if you filed your taxes on time and reported your income and expenses accurately.

• What should your next steps be if the Internal Revenue Service decides to audit your tax return in Lake Charles?

  If the IRS audits your tax return in Lake Charles, start by reading the mailed notification, which will include contact details and other info. You usually have 30 days from receiving the letter to provide the necessary documents. Keep records like receipts, W2s, check stubs, or health insurance statements used for your tax return for at least three years. Once you receive the examination report from the IRS, decide whether to accept or dispute the audit findings.

• How is cryptocurrency taxed in Lake Charles?

  In Lake Charles, cryptocurrency is to be treated as property for income tax purposes. Any gains or losses from cryptocurrency transactions should be included on your tax return. Sales and other capital transactions are to be indicated on Form 8949, Sales and Other Dispositions of Capital Assets, and summarized on Schedule D, Capital Gains and Losses.

• What will happen if you ignore the notices from the Internal Revenue Service to pay for debts in Lake Charles?

  If you don't respond to IRS notices about debts in Lake Charles, your wages might be taken through wage garnishment. They'll send several notices, including a Final Notice of Intent to Levy. If no appeal is made after 30 days of this notice, the IRS can contact your employer to start wage garnishment, taking part of your wages until the debt is cleared.