The IRS Sees Dollar Signs When It Sees New Jersey Tax Returns

New Jersey is in the top 10 states for IRS audits per capita. You could say it is a victim of its own success. Tax auditors are attracted to high earners and money-making businesses, which means New Jersey residents are statistically more likely to end up in the IRS crosshairs.

Whenever an individual or business is targeted for audit, there is a high probability that additional taxes will be levied. Once the red flags are triggered in an IRS field office, you will need sharp and proactive legal counsel to challenge its assumptions and ultimately minimize your tax assessment and penalties.

The tax law attorneys at Silver Tax Group represent individuals and businesses throughout New Jersey in IRS audits, negotiations and litigation. Our clients include:

  • Professionals, executives and other high-salaried individuals
  • Self-employed individuals and small-business owners
  • Individuals deriving most of their income from pass-through entities or rental properties
  • Family businesses and midsize corporations

It's No Coincidence. The IRS Does Target New Jersey Individuals And Companies.

With the second-highest median income in the U.S., it's not surprising that New Jersey is eighth in per capita IRS income tax audits. With a heavy base of industry and sustained growth in the biomedical and technology sectors, we also attract more than our share of corporate tax audits.

Our lawyers are well-versed in the issues that commonly trigger tax audits or criminal tax investigations such as foreign assets, unusually high deductions, undeclared income or Schedule C business losses. Simply earning more than $200,000 triples your odds of being audited compared with those in lower brackets.

Don't Handle It Yourself. Don't Wait For It To Get Worse.

Audits and tax controversies are stressful and time-consuming. They can spiral out of control, affecting your wealth, your livelihood and even your freedom. If you are under IRS investigation or need to resolve a tax dispute, Silver Tax Group can intervene to protect your financial interests and guide you to the most favorable outcome.