Tax professionals in a local tax practice (CPAs, accountants, enrolled agents, attorneys) have an inherent "conflict of interest" for aggressive representation of any one client because they do not want to antagonize the local IRS revenue officer or examiner in a way that will have a negative impact on their other clients.More
An OIC is an agreement between a taxpayer and the Internal Revenue Service that settles the tax debt for less than the full amount owed. Absent special circumstances, an offer will not be accepted if the IRS believes that the liability can be paid in full as a lump sum or through a payment agreement.OIC Info
Former Supervisory Manager and tax attorney-Advisor, Internal Revenue Service, Office of Chief Counsel, IRS National Office, Washington, DC - final signature authority for technical advice to District Directors, Letter Rulings, and other IRS interpretative determinations - signature authority on IRS Tax Regulations.View Profile
The most important attribute of a good tax attorney is to be "creative" with the tax law. This creativity may arise in many ways. A creative tax attorney will use interpretative skill to find support of a taxpayer position. A creative tax attorney will find a gap in a statute or a regulation (a "tax loophole") that permits favorable tax treatment in situations not covered by the statute under consideration. A creative tax attorney will be able to identify inconsistencies by the IRS in its published positions or private ruling letters. A creative tax attorney will use interpretative skills to spin facts, case law, regulations in favor of the taxpayer. Creativity is unlimited in its potential to interpret and apply the law or the ability to develop that knowledge through research skills.
Fraud is intentional wrongdoing designed to evade tax. The existence of fraud is a question of fact to be resolved upon consideration of the facts and proven by independent evidence.
Section 6663(a) imposes a penalty equal to 75% of a taxpayer's underpayment of Federal income tax that is due to fraud. the section 6663 fraud penalty consists of two elements: (1) the existence of an underpayment , and (2) fraudulent intent with respect to some portion of the underpayment. C....More