Tax Planning, Audits And Tax Collection

IRS and New Jersey tax collections and tax audits are not one-sided. They are a negotiation process. You need help negotiating and winning against state and IRS audits, bank levies, wage executions and collections.

My name is Ronald J. Cappuccio, and I’m a tax planning and audit attorney. I’ve worked with clients across New Jersey with tax problems and developed a great deal of skill in helping bring these to a close. People come to me for many reasons, but here are a few that I see the most:

When Someone Owes Money To The IRS

You need a tax lawyer to negotiate the debt. Lawyers, by training and personality, are usually much better and more comfortable at negotiating with the New Jersey Division of Taxation or the IRS. Stay away from the big TV advertising “tax debt collection” companies. Many of them have had problems over the years, and you can do better with your own tax lawyer.

Also, make sure your tax returns are all filed. If you are going to owe taxes for the current tax year, definitely file timely (usually by April 15) even if you cannot pay in full. Also, do not file without talking to a tax attorney. If you are married, you may need to file separately.

When Someone Receives An IRS Audit Letter

Revenue agents are trained IRS auditors. If you receive an audit notice, you are always better off having a tax attorney meet with the revenue agent. Is this an audit of a business or personal tax return? Some personal matters are simpler, and you may be able to handle the audit yourself. But many personal audits and nearly all business audits – especially issues of classification – are extremely complicated, and doing it yourself will put you in significant legal jeopardy.

When Somone Needs To Plan For Their Taxes

Tax planning is the process of looking ahead at your potential tax situation and making adjustments now. You don’t have to start working on these issues after the IRS contacts you. If you’re worried about what may happen with your taxes, reach out now. Even in highly complex situations, I’m able to provide realistic, thorough answers.

I answer my clients’ questions because facing an audit from the IRS with only the internet to fall back on can be overwhelming and confusing. That’s why I take the time to have interactions like this:

I need advice. I am reading “Rich Dad, Poor Dad,” and it has piqued my interest in starting a corporation. It would be really small (I have little start up $), but I like the idea of living off a corporation (obviously that would take years). My plan was to devote some $ for this corporation and invest in the stock market under this corporation name. Is this a good idea? I have researched on KY Sec. of State web, and it does not seem really all that difficult to start a corporation. I might be missing something but all I see is the incorporation fee $50 and a yearly update to KY. With a corporation, would I have to issue stock? How much do I issue, and do I make it “no par value?” Your thoughts are appreciated – Doug

First of all, filing online is just the “cover page” of the corporation. You need all of the correct corporate bylaws, resolutions and tax elections. Frankly, I think this is a really poor idea in the circumstances you present. You should talk to a tax and estate planning lawyer to review your choices. For example, can you contribute to a Roth IRA or regular IRA? What about an employer’s matching 401k? These need to be reviewed before you take action. I hope this helps! – Ron Cappuccio

I take immense satisfaction in clarifying and resolving issues that people face. And I’ll do the same for you; all you have to do is reach out.

Contact Ronald J. Cappuccio For Professional Tax Representation

Tax planning, audits and asset protection are highly complex matters, and there are very real repercussions for oversights and mistakes. To protect yourself and learn more about your options, please contact my office in Cherry Hill by calling 856-665-2121 or sending an email.