Legal Representation For Business Tax Issues

At the Law Offices of Charles R. Frazier, in La Vergne, we help businesses in the Nashville, Murfreesboro and surrounding areas comply with tax law to avoid additional tax liabilities. I represent businesses during the audit process and I help businesses that have been assessed tax deficiencies resolve their tax debts. I also act as an adviser, helping businesses make proper tax decisions up front, that safeguard them in the event of a future audit.

Business Tax Issues

Businesses usually are assessed additional taxes because they fail to keep adequate business records. A good recordkeeping system can actually help you save money. Three tax issues businesses typically face as a result of poor recordkeeping or misunderstanding of tax law are employee misclassification, improper deduction of expenses and withholding violations:

  • Employee misclassification — Classifying a worker as an employee or an independent contractor impacts business payroll tax liability. Misclassification can result in large tax debts and penalties. The IRS has a three-prong test it uses to evaluate classification. However, the most important factor considered is the amount of control the employer exercises over the worker.
  • Improper deductions — Business expenses can be deducted. However, the IRS evaluates deductions for indications of abuse. If the IRS feels you took improper expense deductions on your tax return, you may be facing a tax deficiency plus interest and penalties.
  • Failure to withhold — Businesses must withhold and remit certain taxes throughout the year. Failure to do so can result in the IRS Trust Fund Recovery Penalty. The business owner or the person responsible for withholding taxes may be held personally liable for the full amount of the unpaid trust fund tax plus interest.

Business tax audits often implicate individual taxpayers. If the IRS finds that an individual benefited from a business's improper tax position, it may initiate an audit against that individual.

Hire An Attorney With Legal Experience, Financial Knowledge And Inside IRS Experience

As a former IRS agent, I have a unique insight into the inner-workings of the IRS. I know the tax decisions that make the IRS take notice and how best to maximize my clients' business tax treatment while staying within the bounds of the law.

I also hold degrees in accounting and finance. My legal, financial and IRS work experience is invaluable during IRS investigations. Because I know how agents evaluate tax issues, I also know the types of evidence and positions needed to minimize my clients' potential tax liability.

Tax Law Attorney Serving Nashville, Murfreesboro And The Surrounding Areas

For business law guidance and advocacy you can put your trust in, turn to the Law Offices of Charles R. Frazier. To schedule a free initial consultation, call 615-534-4628, toll free at 800-836-9077 or contact us online.