“After a successful completion of my tax client’s case, most of the feedback they tell me is that they wish they went to our firm sooner.” According to Atty. Aquino
Located in Orange County, Southern California, the Tax Law Office of Jayson M. Aquino has been delivering consistent results to his clientele for over a decade. His firm mainly specializes in tax controversies and compliances but also handles business start-up and monthly accounting/bookkeeping services, corporate tax preparations and business succession planning. Atty. Aquino understands federal and California tax laws as well as how the IRS operates. He was able to assist businesses and individual clients throughout Orange County and Los Angeles County.
This reputable and charismatic intellect started his journey in a manufacturing firm in Los Angeles while preparing for the CPA Board exams then when he earned his license, he further honed his expertise by joining a top CPA firm's tax department specializing in business entities where he got to work with high net worth individuals and non-profit organizations while going to law school at night. This gave him perspective to see the connection between the legal and the accounting niches of tax laws. He quotes, "For example, if the usual problems of business owners are “sloppy” bookkeeping issues which any good CPA can avoid - it is usually the inaccurate bookkeeping that will lead to an IRS audit. While a CPA can keep the accounting and record keeping questions in check, the IRS examiner may not let it go as easily as one thinks! They might ask something which a non-CPA is not trained enough to answer. This is the reason a CPA ought to know the unintentional legal consequences against the business owner."
He also adds: “Over the years, we’ve handled cases in which we were the second tax firm hired by our clients after coming from other ‘tax resolution firms’. These firms have aggressive advertising campaigns we normally hear over the radio, cable tv or social media. My clients tell me that they were charged around $7,000-$12,000 per case without resolving their tax issues and they later find out that they are dealing with sales people who are not authorized to speak on their behalf when dealing with the IRS. When I asked them why did they sign with these individuals in the first place, they advised me that the sales pressure was enormous and some scare tactics were used such as garnishments.”
The proof is in the numbers. Atty. Aquino’s success rate is 90% in offer and compromise filings with the IRS. One of his notable cases handled is with a home health business in LA County, wherein his client owed $1.2M in back taxes, but was able to settle it for just $5,000. How did he do this? “It all ties back to me being a Certified Public Accountant - I give a thorough review of their personal and/or business financial statements and am able to do analytical work to see if this entity is a good candidate for offer and compromise. Then, being a lawyer, I apply the applicable tax laws to see if we have a reasonable cause if the case meets the threshold of tax forgiveness. Most importantly, my work ethics - I am straightforward with my clients unlike some sales people posing as tax professionals, wherein they charge exorbitant fees and give false hopes even though the client has no chance of having their back taxes forgiven. If my clients don’t qualify for tax forgiveness, I advise them right away and advise them that the IRS has other programs that will work for them like filing the Currently Not Collectible status (CNC), installment agreement and their ever popular fresh start program.
“One of my advantages that sets me apart from other tax professionals is being a Certified Public Accountant - I prepare amended returns for my clients which has saved them millions of dollars! Unlike other tax lawyers, who do not offer this service due to their lack of training and experience in preparing actual tax returns.”
Basic Checklist in Hiring a Tax Professional:
- Are they authorized to represent clients before the IRS? The IRS only accepts 3 professionals to act on a clients behalf, namely:
- Certified Public Accountant (CPA)
- Enrolled Agents
- Do they know how to prepare an amended return?
- How many returns have they prepared in the past?
- If I’m a small business owner, do they know the accounting cycle?
- What’s their success rate in dealing with the IRS?
- Are they equipped to handle a tax audit or should I hire another CPA to handle the accounting side?
- As a client, what options exist if the situation doesn’t qualify for an offer and compromise?
- Is the problem only civil or is it also criminal?
- How important is confidentiality? This is important because there is no CPA-client confidentiality, only attorney-client communications are privileged.
Getting educated and consulting with an expert is key. The Tax Law Office of Jayson M. Aquino offers a free 30-minute consultation to help the public with their tax issues. Don’t forget to check out his website.