- Tax Court Settlement – Client retained our firm after the IRS had issued its final audit report. The audit report assessed additional taxes of $70,736. In addition, the IRS assessed a Fraud Penalty of $53,052 – without interest a total of $123,788. We represented the taxpayer in appeal and in Tax Court and reached a settlement with the IRS which eliminated the fraud penalty in full and reduced the taxes due. The total tax and penalty owing as a result of the settlement is now only $29,853.
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