TAXATION

F

ran’s specialization in taxation extends well beyond representation and advocacy for tax and delinquent tax collection controversies with the IRS and Virginia Department of Taxation. The firm’s practice also provides tax consultation and advice regarding considerations and consequences in tax planning for individuals, businesses, business transactions, trusts and estates and domestic relations. Tax consultation includes advising clients as to tax considerations:

  • Structuring business transactions and business start-ups
  • Division of assets in divorce that are subject to equitable distribution
  • Preparation and evaluation of domestic relations orders for dividing retirement accounts
  • Income and estate tax consequences related to estate planning, trust and estate administration
  • Assisting with tax audits, disputes and levy appeals
  • Negotiating collection alternatives for an individuals and business owners.

While no one wants to face an audit, F. Hunter Hampton tries to make the process easier with tax consultation to prepare for audits, representation in audit examiner interviews, and post-conferences with a tax examiner’s supervisor if needed. If an audit adjustment or agreement cannot be reached, the firm can draft a formal protest to be filed with the Tax Appeals Office. In the event the matter remains unresolved, a petition can be filed with the Tax Court and negotiations continued with the Appeal Office on your behalf.

If a taxpayer fails to file delinquent tax returns, make arrangements to pay delinquent taxes, or submit timely payment, he or she may become subject to an IRS levy to satisfy a debt. This can include garnishing wages, seizing investment or bank accounts, and/or placing a lien against real state or property. Once you’re notified of a pending lien or levy, F. Hunter Hampton can help you dispute the validity of the levy and avoid forced collection through several appeal options.

For various reasons, sometimes a taxpayer cannot pay his or her delinquent taxes. In these cases, the firm can explore several collection alternatives such as:

  • Hardship classification demonstrating that an account is currently non-collectible
  • Installment agreements including partial pay installment agreements if an account cannot be paid fully by the collection statute expiration date
  • Offer in Compromise when it is unlikely that tax debt can be collected in full and the offer amount represents the potential collection amount

Once your situation has been evaluated, the most suitable option(s) for making payments may be determined, including whether you qualify for an IRS collection initiative called the “Fresh Start Program.” Fresh Start can reduce tax debts and make it easier to settle an account. Regardless of the collection option that best resolves your case, assistance is provided to prepare and submit all documentation, as well as representation to negotiate terms and acceptance of payment agreements.

A Trust Fund Recovery Penalty may be imposed on those who fail to remit payroll employment withholding taxes, regardless of whether a business closes or the business or an individual files bankruptcy. The firm of F. Hunter Hampton can advise you as to individual responsibility and assist with representation to negotiate payment plans.

Innocent spouse relief is available under certain circumstances, and more recently has been extended in matters of divorce where the innocent spouse can establish lack of knowledge of unpaid taxes or fear of abuse or financial control.