Audits of High Net Worth Individuals
Explains why individuals with significant assets face heightened IRS audit scrutiny, including attention to offshore accounts, foreign trusts, and charitable deductions.
Seattle IRS Audit Lawyer
Individuals with assets valued at $10 million or more should proceed with great caution into audits, particularly IRS audits. The IRS has a team specifically focused on handling audits of high net worth individuals. This team is skilled at digging deep into financial affairs, scouring for offshore accounts, overseas business interests, foreign trusts, inheritances and any foreign asset that they believe could lead them to uncollected or evaded taxes.
The Bellevue, Washington, law firm of Lana Kurilova Rich PLLC provides audit representation to high net worth individuals in the Greater Seattle area, statewide and nationwide. Call us at (425) 289-0629 for an initial phone consultation with our Seattle IRS audit attorney. Remember that, whether or not you retain us after your call, the attorney-client privilege applies, which means that we cannot discuss your matter with anyone.
Protection From Our Washington Tax Evasion Defense Attorney During the Complex Audit Process
If you are a high net worth individual who has been notified about an IRS audit or a Washington State Department of Revenue audit, you have the right to know about the complex process that will take place. We will educate you about the thorough investigation that will be done, which will include a review of all your accounts and business ventures. The IRS now has much broader powers and ability to contact and work with the taxing agencies of foreign countries. Simply put, your information can be shared with the IRS by foreign financial institutions and tax agencies. Thus, you should not assume that your financial information is held in confidence in a foreign country or an offshore account. If you made the mistake of not disclosing all your reportable foreign income or other foreign assets, generally, there is a solution for you. It may not be perfect, and you will likely end up paying for your mistake, but doing nothing and being discovered by the IRS bears much worse consequences.
It is important that you disclose to us anything that could potentially be an issue. Your communications with us, including our staff members, are strictly confidential and protected by the attorney-client privilege. You can feel safe to be completely candid in your communications with us. Did a family member or friend deposit a significant amount of money into one of your accounts? Was a tax issue overlooked that you know of? Did you intentionally deposit some money into an offshore account thinking that it would be protected for the IRS? Do you have a safety deposit box in a foreign country with some valuable contents? We will need this information to protect you and minimize any consequences that could arise. Again, this information will remain privileged and confidential.
High net worth individuals, particularly those involved in international trade, face the risk of tax liens and having tax issues rise to the level of criminal charges in certain circumstances. In many cases, we are defending against much more than a bad audit. Our experience means we know how to defend you successfully.
To Prevent a Tax Lien, Call (425) 289-0629 for an Initial Phone Consultation With Our Bellevue, Washington, Law Firm
We invite you to contact us today by phone or by e-mail to discuss your case with our experienced Seattle, Washington, tax evasion defense lawyer. Find out how we can help.
About Attorney Lana Kurilova Rich
- Washington tax attorney since 2003: Lana Kurilova Rich has been admitted to the Washington State Bar since 2003 and has focused her practice on tax law since opening Lana Kurilova Rich, PLLC the same year.
- Master of Laws in Taxation (LL.M.): Lana earned her LL.M. in Taxation from the University of Washington School of Law in 2007 in addition to her J.D. from Seattle University School of Law in 2003.
- Former Court of Appeals law clerk: Lana served as Law Clerk to the Honorable Elaine Houghton of the Washington State Court of Appeals, Division II.
- Bilingual: English and Russian: Born and raised in Russia, Lana is fluent in Russian and licensed to practice law in the Russian Federation in addition to Washington State.
- Federal, state, and international scope: Lana represents clients before the IRS, Washington State agencies (DOR, ESD, and L&I), and on cross-border tax matters including FBAR and Form 8938 compliance.
- Direct attorney communication: Clients work directly with Lana Kurilova Rich, not a routing desk. Calls and emails are returned promptly throughout the engagement.
- Pro bono Low Income Taxpayer Clinic: Lana has volunteered with the Low Income Taxpayer Clinic since 2006, helping qualifying taxpayers resolve IRS disputes at no cost.
- Integrated tax preparation and bookkeeping: The firm provides federal and state tax preparation alongside legal representation, reducing handoffs and accelerating resolution.
We invite you to contact our Bellevue, Washington, law office today by phone or by e-mail to discuss your case with our experienced tax lawyer. We are here to help.