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Federal Taxation

Federal tax planning is one of the most important legal issues for individuals, businesses and organizations. An uninformed tax decision can have disastrous consequences. Foster Swift's tax attorneys work to reduce federal tax exposure and make sure our clients understand the tax implications of their decisions. 

  • Business Income Taxes. We advise clients on tax issues that affect their businesses on a daily basis. Our counsel often begins with selecting the proper entity to do business, typically a limited liability company, a “C” corporation, or an “S” corporation. We help clients make the proper tax elections and structure their businesses in a tax-efficient manner. Our tax services evolve and adapt as the business grows. We assist clients with restructuring their businesses to reduce net taxes and identifying deductions, credits, and other tax savings opportunities.
  • Business Transactions. Most business transactions have federal income tax consequences. Often transactions that are substantively identical are taxed differently based on how they are structured. Examples  include mergers, acquisitions, reorganizations, liquidations, intracompany transactions, joint ventures and other contractual relationships, employee benefit and executive compensation arrangements, settlements as well as, estate planning. Our tax attorneys have advised all types of clients regarding the federal income tax implications of these transactions and countless others.
  • Withholding and Payroll Taxes. Failing to timely pay withholding and payroll taxes is a common and costly mistake made by many businesses. Officers of a business and others may be held personally liable for unpaid withholding and payroll taxes, even if the business has been dissolved or filed bankruptcy. Our tax attorneys regularly represent officers and businesses in these situations. We also advise businesses on the many issues that can arise with respect to withholding and payroll tax compliance, and represent our clients during audits and appeals.
  • Compensation Arrangements.  Every compensation arrangement should be reviewed by qualified counsel to ensure the arrangement complies with federal tax rules, including Section 409A of the Internal Revenue Code. Of particular concern are qualified and nonqualified deferred compensation plans, which are subject to a number of strict rules and potentially severe penalties.  Our attorneys have extensive experience helping clients design top-tier compensation plans that comply with all requirements of applicable law.
  • Individual Income Taxes.  We regularly advise individuals and business owners with respect to individual income taxes.  Our advice ranges from individual tax planning to representation on IRS audits and in other tax disputes.

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