Taxation

Man doing taxes

At Cooper Schall & Levy, we have a well-established history of providing individuals and businesses throughout the Philadelphia area with sound legal counsel in matters pertaining to taxation. Our tax attorney realizes that many sharp and intelligent people, in addition to being burdened financially by taxes, are intimidated by the densely worded communications of the Internal Revenue Service (IRS) and other tax agencies that seem designed to be indecipherable. Don’t worry — our tax attorneys will translate.

The best way to cut through the confusing aspects of taxation and protect your bottom line is to work with one of our capable, experienced tax attorneys. We will analyze your specific situation, including any unique complexities, and help you bring your tax issues to a successful conclusion.

Our Philadelphia Tax Attorney Handles a Wide Range of Tax Matters

Whether you file your own taxes or use an accountant or tax preparation company, there are situations in which you may need the services of a professional tax attorney. When such situations arise, getting in touch with our highly competent law team is a wise move. We can efficiently assist you with any of the following tax issues: 

Audits

If you have received an audit notice from the IRS, just getting in touch with our tax attorneys will help you relax. We will explain what type of audit will be conducted and what kind of documentation you require. We will also:

  • Deal with all IRS communications 
  • Represent you during the audit hearing 
  • Negotiate a settlement (if necessary)

Having a professional at the helm will not only lower your stress level but may well protect you from agreeing to a tax arrangement that is not in your best interest.

Federal, State, and Local Tax Planning

Smart individuals and business owners don’t wait until spring to pay attention to their taxes. Our tax attorneys will assist you in strategically planning to mitigate your tax risk, enhance your cash flow, and preserve the equity you have worked so hard to build.

How Our Tax Attorney Can Help With Litigation

A significant portion of our practice involves tax litigation. When your tax issue cannot be resolved through the Internal Revenue Service administrative appeals process, or before the other state or local taxing agencies, our law firm will provide you with powerful legal representation. Our tax attorneys are equally comfortable litigating on your behalf before the United States Tax Court, United States District Courts, the Court of Federal Claims, or the United States Courts of Appeals.

Employee Benefits

Whether employee benefits are taxable or deductible depends on whether you are the employer or the employee. 

If you are an employer, benefits you give your employees, such as health plans, are tax-deductible on your business tax return, but there are several caveats that apply, including:

  • The payments must be ordinary & necessary business expenses
  • Your business must pay or be liable for these costs. 
  • The payment amount must be reasonable, based on similar business standards
  • The benefits must connect to work the employee actually performs

If you are an employee, any fringe benefits you receive from your employer are taxable (and subject to withholding) unless the law specifically excludes them. Fortunately, there is a long list of fringe benefits that are tax-free including:

  • Most types of insurance (e.g. health, accident, disability, term life)
  • Educational assistance
  • Employee discounts on items sold by the company
  • Assistance with commuting and parking costs 

How Our Tax Attorney Can Help With Corporate Transactions

For business owners, all business transactions have tax consequences and it is important to be aware of them going in. Our tax attorneys will help you take tax considerations into account when planning:

  • Business formations
  • Mergers or acquisitions
  • General restructuring
  • Financing

Our tax team covers both sides of transactions, assisting in negotiations surrounding such things as purchase or sale price, the tax treatment of expenses, deductions, depreciation, and tax mistakes or disputes.

Formation of Non-Profit Organizations

If you are starting a non-profit organization, we will help you file the necessary documentation to obtain federal tax-exempt status. Once the tax-exempt status is obtained, we will provide you with guidance to ensure that your organization is in full compliance with all applicable rules and regulations. We will protect your nonprofit, whatever its size by making sure you:

  • File all appropriate IRS forms
  • Keep accurate, detailed records and receipts
  • Keep track of unrelated business income
  • Do not support any political campaign

We will assist you in keeping your nonprofit safe and grounded in its elevated purpose.

Financing Tax Debt Workouts

It is not uncommon for individuals or businesses to get behind in their tax payments. Our tax lawyers are adept at working with the IRS Fresh Start Program which offers alternative payment and settlement options. We are often able to negotiate a compromise settlement in which you 

you may be able to pay less than the total you owe. 

However, it’s important to be aware that even our skilled tax attorneys will not be able to work out an offer in compromise unless the IRS is convinced that you are unable to pay the full amount. 

Having our knowledgeable tax attorneys negotiate debt workouts is invaluable since we know the ins and outs of the taxation process. Even if we cannot negotiate a lower total payment for you, we may be able to work out more reasonable repayment terms, helping you to lessen your financial struggle and to avoid certain penalties and fees.

Contact Our Experienced Philadelphia Tax Attorney for Strong Representation 

Whether you contact our office as an individual or a business owner, we are well-prepared to investigate and clarify all elements of your case. We will then create an effective strategy to navigate the challenging and sometimes dangerous waters of taxation. Contact our Philadelphia law firm today!