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Our Business is Business

We are passionate about correcting complicated tax and business situations - no matter where in the world our clients may be.

Tax problems can strike any US person or business or even any non-US entity doing business in the United States. It doesn’t matter your net worth, it doesn’t matter your income, it doesn’t matter your political leaning; Regardless of status, an IRS issue can turn your world inside-inside-out and upside-down. Our clients come from incredibly diverse backgrounds from all around the world, But all have one thing in common: An IRS issue is causing so much anxiety that the highest level of representation is desired.

The IRS enjoys a global reach; our Connecticut tax lawyers represent a global response. We are advocates for US expats and investors overseas along with foreign-born individuals and foreign entities doing business in the United States.

We enjoy both fixing past mistakes and creating solid plans to minimize mistakes and surprises.

Is the IRS Your Greatest Risk? IRS Confidential

There is nothing as uniquely complicated as the US tax code in world history. And on top of that, the IRS is in charge of administering other laws like the very consequential Bank Secrecy Act of 1970 along with massive data sweeps captured through Foreign Account Tax Compliance Act (FATCA) and other information sharing initiatives.

And even on top of that, Tax Reform of 2017, while offering some relief to wholly domestic businesses, greatly complicated the already complicated tax code for businesses and individuals who have an international component.

Yet, despite the dangers the IRS presents, the US economy has never been stronger.

The opportunities are huge. And because of this, the cost of getting something wrong can be even larger. Missing out could really cost you. Or to state it another way: the stakes have never been higher.

Unfortunately, for the business owner and taxpayer, the choices to deal with America’s quite burdensome tax regime have generally been to either: (1) hire an accounting firm and hope that their accounting skills make up for a lack of advocacy skills, or (2) hire a law firm and hope their advocacy skills make up for a lack of accounting skills.

A work-around people have created is to hire both an accounting firm and tax law firm. This has been done for decades.

But that too has problems. One is keeping the attorney-client privilege intact. But perhaps more importantly, the number one complaint we hear is that many times the distinct accounting team and legal teams are unable to work effectively or efficiently with each other to achieve your goals. Sometimes different firms do not get along. And sometimes costs can increase because of the difficulty in communications.

But our Connecticut tax lawyers thought of a different model. A different business model that would give our clients a completely unfair advantage.

We are Fully Integrated Business Advisory and Services Firm
  • accounting department: Our accountants have expertise with both GAAP as well as with global accounting standards. Our work is done in-house to protect the advantages that continuity and consistency provide.
  • in-house legal department: Our in-house legal team of experienced lawyers supports and advocates for your best interests by proactively identifying problems, proposing creative solutions and advocating for advantageous positions.
  • mergers & acquisition department: Our goal is to help transactions close; fluid transitions that are tax efficient and make sense for your business, without surprises.
  • compliance department: Our tax & compliance initiatives work with you so there is one less thing for your business to worry about.
Internationally Recognized Business & Tax Experts
  • Mandarin-Speaking associates
  • worldwide leaders in IRS disclosure agreements
  • global clientele
  • global reach
Solving the Most Difficult and Complex Situations of Small and Medium-Sized Business (SMB) With International Components is Our Specialty
  • we thrive in stressful high stakes environments where a lot of unknowns can pose great risks.
  • risk is inherent to all of life; our goal is to optimize risk profiles for strategic advantage.
  • a dynamic network for growing and established SMBs around the world.
We Think About the Things You Don’t Have Time to Think About

Our Connecticut tax attorneys know our clients have businesses to run and careers they are focused on. Our clients simply cannot afford the time it takes to keep abreast of the tax and legal changes that will impact them. That is why it is our job to think.

Anyone can make any situation confusing. In fact, a lot of confusion is intentional. It is meant to get you distracted so you do not pay attention to something to which you really should be paying attention.

One of our capabilities is being able to uncover something nefarious our clients were unaware of. Whether it is employee embezzlement or potential exposure created by previous advisors.

Asset Protection

Every business needs an asset protection plan. Unfortunately, the time that someone is most interested in asset protection is at a time when it is least advantageous - that is, after the bad thing happened. But no matter what, every situation can be made better, and some asset protection programs actually have a massive tax benefit. Too often, very sophisticated people get taken in by risky proposals that instead of mitigating risk, create risk with the IRS.

Current Practice Trends

Small & Medium-sized businesses (SMBs) have not seen such a favorable code in a long time. The prior tax law provided a huge advantage to large, publicly traded companies, leaving growing companies with significant hurdles to overcome. The one caveat is SMBs with international components. Significant work is needed to ensure compliance and to reduce taxes. This has been a huge area of growth of our firm.

Other Practice Trends
  • IRS Large Business and International and self-employment small business both have ramped up international audits significantly. Now is the best time to get a second look to see if your tax filings could pass the rigor of an audit.
  • Most international returns are filed incorrectly or leave open the possibility for the IRS to impose significant penalties.
  • Tax reform created benefits for US corporations with operations overseas, but it also created detriments for individuals who do the same.
  • An influx of foreign investment into the US to take advantage of the world’s largest economy that also happens to be growing at a significant rate, combined with new laws creating additional hurdles for the protective non-US investor to navigate.

An important cultural warning to those unfamiliar with the IRS: no other government has such an onerous tax policy as the United States. Foreign taxing authorities tend to be more transparent and less adversarial.

Client Reviews
★★★★★
Thank you so much for all your help in dealing with our Streamlined Disclosure submission - your expert guidance and friendly approach were invaluable in getting us through the complicated processes. CK
★★★★★
You are the only tax professionals I’ve dealt with who have real knowledge about these off-shore issues. I can’t thank you enough. AD
★★★★★
Gratitude and appreciation are the words that come to mind when I consider the law firm that you have built, and the community that you have created, to protect the people, your clients. LB
Videos

The reason why our IRSMedic video channel is the most popular tax resolution channel on YouTube is quite apparent. We take the complicated and make it easy to understand. And with the IRS, we never run out of complicated, convoluted laws that are all too consequential to talk about. We have top tax guests from around the world, and over two million minutes watched, yet are still determined to make our channel even better. If you have a suggestion for a video topic, please send it to info@irsmedic.com

Representative Cases
Roger owns a home goods manufacturing plant in Indiana. When he started out he claims he “had no idea” what he was doing. But his customers disagreed. His business went from sales of $35,000 in 1992 to $35 million in 2018 in a very specialty niche. Roger thought he did the right thing in hiring his tax team, but they didn’t notice a huge problem. Roger was a genius at innovating new products his customers demanded, not so good at making sure all the details were taken care of. Read More...
Marek was told by both lawyers at large tax firm and CPAs at “Big Four” accounting firm that he had no choice but to make a full Offshore Voluntary Disclosure because he has unreported assets and income overseas. Both firms estimated the fees would be around one million dollars. Both firms warned that Market would owe around $8 million in back taxes and penalties. Marek flew in to meet us for a second opinion. Read More...
Stefanie called our office about a very simple question he had about a foreign inheritance that she received the previous year from her aunt in Germany. There were no taxes due, but there was a missing Form 3520 that could carry substantial penalties if not filed correctly. Stefanie asked us to complete it for her. While we were researching her inheritance, we saw that an uncle of hers was a partner with her father - they owned a substantial real estate portfolio in the US. Read More...
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Fill out the contact form or call us at (888) 727-8796 to schedule your free consultation.