Wingfield & Corry, P.A., does not provide ongoing tax preparation or traditional Certified Public Accounting (CPA) services. However, whether a CPA is in the midst of a very busy tax season and needs to handle other matters for other clients; his or her client’s tax matter requires the necessary protection of attorney-client privilege to resolve a client’s tax liability; or the CPA needs assistance in determining the best course of action for resolving a client’s tax problem, we can help.
When we receive referrals from a CPA, we provide only the specialized services required. The referred individual remains a client of the referring CPA. Likewise, if a bankruptcy attorney refers a client who has tax liabilities and needs assistance in navigating the discharge of those liabilities prior to a bankruptcy filing, the referred client returns to the referring attorney to handle filing, which we do not wish to do. We simply want to ensure the client receives the maximum benefit from the bankruptcy filing.
We assist in finding the best way to accomplish the client’s long-term goals. We can offer unique planning opportunities for businesses with large tax liabilities that require an intimate knowledge of the tax code and the procedures that may result in a minimum tax liability actually paid. We also can help professionals and their clients to realize opportunities to accelerate tax liability in exchange for future deductions against future income.
We understand the intricacies of the Trust Fund Recovery Penalty and how to legitimately dispute balances claimed due, allocate appropriate payments to minimize liability and delay collection so other responsible persons must pay the outstanding liability.
We know whether to contest an audit or allow the higher assessment when taxes should be bankrupted and how to avoid means testing in bankruptcy. We also know the importance of recognizing during the audit process if a client has a potentially bigger problem, including collection and/or criminal issues.
We know how and when to best utilize the Installment Agreement, Offer in Compromise and Collection Due processes to the client’s benefit in anticipating the use of a bankruptcy to ultimately discharge a tax liability as we understand how to discharge taxes in bankruptcy, using this tool to the client’s advantage.
Although employees of the Internal Revenue Service and Arkansas Department of Finance & Administration are not permitted to refer taxpayers to specific attorneys and/or CPAs, Wingfield & Corry, P.A. has been flattered by referrals from a number of those employees of family members and close friends (though they refuse to reveal the names of the referring source).