Posts

Jasmin E., Denver, CO

John has provided outstanding legal counsel and guidance in helping me

work through a number of IRS tax issues and implications. Over the past 5

years, John has provided sound advice, guidance and tangible business

options that helped my company dig through the paperwork, and language

which helped me to create a viable and reasonable path towards resolution.

He was also instrumental during a tax audit laying out a tested blueprint for

the approach and never failed to accompany me during the audit meetings.

John is trustworthy, dependable and knowledgeable about all tax matters, but

adds value in his ability to understand and appreciate the small business

owner and the challenges we face in running a business. Through our entire

business relationship, John has been responsive and detail oriented, allowing

me to stay focused on my business and not getting distracted with legal

details.

 

“Thank you for your professional services!

Denver Tax Lawyer John R McGuire

John McGuire is a tax lawyer at The McGuire Law Firm.  As a tax lawyer, John assists clients with many tax issues, matters and questions.  Below is a list of some of the tax issues that John assist client with.

– Individual & Business Tax Planning

– IRS Tax Debts, IRS Tax Audits and other IRS Problems

– Analyzing the tax implications of business transactions such as the sale of business assets, stock, business interests and other business acquisition matters

– The application of the tax law to the gifting of property whether at life or death

– Preparation of Tax Returns

Please view the video below to meet John and hear more about the services John provides as a tax lawyer.

You can contact The McGuire Law Firm at anytime to schedule a free consultation with a tax lawyer in Denver or Golden, Colorado.

Denver Tax Attorney John R. McGuire

John R. McGuire is a tax attorney in Denver, Colorado and the founder of The McGuire Law firm.  The McGuire Law Firm focuses primarily on tax law, IRS matters and business transactions for small to medium sized businesses.  As a tax attorney, Mr. McGuire assists clients with the following matters and issues:

 

–          Tax audits & disputes before the IRS

–          Tax Debts before the IRS

–          Individual Tax Planning

–          Business Tax Planning

–          The tax analysis of specific business transactions

–          Tax implications of business formations & structures

–          Tax implications of gifting assets to family and friends

Mr. McGuire has successfully represented many individual and business taxpayers before the Internal Revenue Service regarding IRS tax debts, IRS tax audits and other tax disputes.  Additionally, Mr. McGuire has worked with many businesses from their formation and structure to the sale or transfer of a business or business assets.  Of course, as Mr. McGuire works with these businesses he consults and advises the business and business owners regarding the individual & business tax implications of certain transactions and matters.  In addition to his law degree, Mr. McGuire obtained his LL.M. in taxation from the University of Denver, which is an advanced degree in taxation.  Mr. McGuire feels that such degree not only furthered his knowledge regarding tax law but benefits his clients in regards to their tax and business legal matters.

The video below will provide additional information regarding the services Mr. McGuire provides to his business and individual clients.  If you feel you have the need to speak with a tax attorney, please feel free to contact The McGuire Law Firm at anytime.  The firm allows a free consultation with a Denver tax attorney for all potential clients, and would welcome the opportunity to meet and speak with you.

Denver Tax Attorney Denver Tax Lawyer IRS Tax Attorney

Current Tax News: Penalty Relief and Foreign Income Filing Requirements

Tax laws are always changing or being interpreted and the IRS is always issuing new programs and revenue procedures.  It is important for a tax attorney to stay as current as possible with such matters.  The article below has been drafted by a Denver tax attorney at The McGuire Law Firm regarding current tax matters and IRS programs.

In June 2014 the IRS is beginning a program that will assist small businesses with retirement plans that owe penalties for not filing certain reporting documents.  These small businesses can be avoided by filing current and prior year forms during this IRS pilot program.  The IRS may actually reach out and contact certain small business that have retirement plans, and appear to be unaware of their reporting requirements for their plans.  The Internal Revenue Service hopes that this contact and overall program will bring certain businesses into compliance with their filing requirements.

Form 5500 (or Form 5500 series) can lead to large tax penalties when not filed.  Plan administrators or a plan sponsor can incur penalties from the IRS up to $15,000 per return.  If  a business has already been assessed a penalty for late filing, the business would not be eligible for a penalty abatement or waiver through the current program.  It is also important to note that the current program only applies to retirement plans maintained by certain business and not all businesses will be eligible.

A small business can include multiple returns that would be late within a single submission, and penalty relief may be available to the small business for more than one year or tax period.  Currently, the IRS is not charging a filing fee to request penalty relief through the program.

For more information regarding this penalty relief program, you can review Revenue Procedure 2014-32.

June 15 is typically the day for US citizens and residents aliens living abroad, or those serving in the military to file their tax returns.  In 2014, it was June 16th because of the calendar.  In order for a taxpayer to claim the two month extension, they must attach a statement to their 1040 individual income tax return stating which situation applies to them.

In regards to foreign income, United States federal law requires all US citizens and resident aliens to report worldwide income, which includes income from foreign bank accounts, foreign security accounts, foreign trusts and other foreign income on their 1040 individual income tax return.  In addition to such reporting, US taxpayers with foreign accounts of which the aggregate exceeds $10,000 at anytime during the tax year (in 2013) are required to file electronically with the Treasury Department a Financial Crimes Network Form 114, which is titled Report of Foreign Bank and Financial Accounts.  The FBAR laws have recently been established to prevent the evasion of tax by taxpayers who earn foreign income that is not reported to the IRS.  For example, a Swiss bank may not report interest income on a 1099 INT that a US Bank would and thus the taxpayer earning interest in such Swiss bank account may not report the interest as income to the Internal Revenue Service.

This Form 114 has replaced TD 90-22.1, which was the previous FBAR form used by the IRS.  The Form is due to be filed with the treasury on or before June 30th, and it must be filed electronically.  The form can be obtained online at the BSA E-filing System, and individuals with foreign accounts should note that the June 30th deadline cannot be extended such as for other income tax returns.

If you have questions regarding any of the above tax matters, you can speak with a Denver tax attorney by contacting the McGuire Law Firm.  The McGuire Law Firms offers all potential clients a free consultation with a tax attorney.

Tax Attorney in Denver Discusses IRS Form 433B OIC

IRS Form 433B OIC is the form a business would complete when compiling an offer in compromise in an attempt to settle their tax debt with the IRS.  John McGuire is a tax attorney at The McGuire Law Firm and has prepared the video below to provide some background and general information regarding Form 433B OIC.

 

Contact The McGuire Law Firm to schedule a free consultation with a tax attorney.  The McGuire Law Firm has law offices in Denver and Golden, Colorado.

IRS Tax Lien Video by Denver Tax Attorney

An IRS tax lien or Notice of Federal Tax Lien is a serious issue and you should consider discussing such issues with a tax attorney or tax professional.  The video below has been prepared by John McGuire, a tax attorney at The McGuire Law Firm to provide information regarding a federal tax lien.

 

Contact The McGuire Law Firm to schedule a free consultation with a tax attorney in Denver, Colorado or Golden, Colorado.

Paying Back Taxes to the IRS by Denver Tax Attorney

If you owe taxes to the IRS there multiple ways to pay these back taxes, and you may have multiple options to resolve your IRS tax debt.  John McGuire, a tax attorney at The McGuire Law Firm has prepared the video below to provide some information regarding paying your back taxes.  Please feel free to contact The McGuire Law Firm to speak with a tax attorney.

Schedule a free consultation with a tax attorney in Denver or Golden Colorado by contacting The McGuire Law Firm.

Submitting an Offer in Compromise to the IRS by Denver Tax Attorney

The video below has been prepared by John McGuire, a tax attorney from The McGuire Law Firm regarding an IRS offer in compromise and submitting an offer in compromise to the IRS.  You can speak with a tax attorney by contacting The McGuire Law Firm, with offices in Denver and Golden Colorado.

 

Contact The McGuire Law Firm to schedule a free consultation with a tax attorney in Denver or Golden Colorado.

Colorado Tax Attorney

The McGuire Law Firm works with clients across all of Colorado.  From the front range to the western slope, The McGuire Law Firm assists clients regarding tax matters and issues before the IRS to individual and business tax planning, tax analysis and tax advice regarding certain transactions and client circumstances.

 

Contact a tax attorney at The McGuire Law Firm and schedule a free consultation to discuss your tax needs and questions.

Schedule A Video by Denver Tax Attorney

A tax attorney at The McGuire Law Firm can assist you with your tax questions, issues and matters.  The video below has been created by John McGuire, a tax attorney in Denver, Colorado at The McGuire Law Firm to discuss itemized deductions and IRS Schedule A.

 

Contact The McGuire Law Firm to schedule a free consultation with a tax attorney- offices in Denver & Golden Colorado.