Tax Law in Juneau, AK

Are you concerned that you have a long and expensive audit ahead of you?

According to H&R Block, most IRS audits take a year to complete. However, the federal government can take up to three years to complete.

Organizations and individuals in Juneau with tax problems to resolve should consult an attorney. Beyond offering sound legal advice, they may negotiate terms that will allow you to remain solvent. The information about all levels of taxation below will help you start this vital process.

What is , Alaska Tax Law?

Tax law deals with the regulation of paying taxes in , Alaska. Attorneys who practice this type of law do so at various levels, such as local, state, and federal.

This area of the law is arduous. Even a misplaced comma or an extra zero can make the IRS believe you owe them more money. In other instances, accountants may have taken actions that caused severe repercussions.

Juneau residents have an additional tax liability that other cities in Alaska may not levy. The Department of Commerce, Community, and Economic Development says the state does not have a sales tax. However, municipal governments are free to do so. Accordingly, you may consider examining the guidelines for this tax published by the city.

Tax Law Topics to Understand

Understanding the essentials of tax law and how it works is vital to anyone living in , Alaska. Most Americans only have basic knowledge of tax systems, and with good reason. They are complex and, at times, contradictory.

In particular, small business owners need to understand tax law and how it impacts their company. Here are some essential law topics to get you started.

IRS Audits

An IRS audit is a review of the finances and accounts of an individual or organization in Juneau, Alaska. The audit may also uncover discrepancies business owners were not aware existed.

These are just a few of the things the IRS looks for when conducting an audit:

  • Does your lifestyle match your income?
  • Are you passing off personal expenses as business expenses?
  • Are you overstating any of your business expenses?
  • Did you fail to report any business income, or did you inflate that income?
  • Do your payroll taxes match that of your employees?
  • If your business handles a lot of cash, are you diverting any of this into your pocket?

If you are about to have your business audited, consider hiring a qualified Juneau tax law attorney. They can help you steer the complex process and offer advice as issues arise.

Tax Evasion

Tax evasion refers to any activity in , Alaska that engages in an effort to reduce or avoid tax liabilities. There are two types of tax evasion: evasion of assessment or payment.

Evasion of assessment means the taxpayer acted to beat a tax assessment. The under-reporting of taxes is one example of this crime.

Evasion of payment means you avoid paying the IRS by hiding money or assets that should become taxed. Here are some examples of tax evasion:

  • Keeping a double set of books
  • Overstating deductions
  • Destroying financial records
  • Concealing sources of income
  • Filing a false return
  • Making false invoices
  • Holding property in someone else’s name to avoid taxation

If a court finds you guilty of tax evasion in Juneau, Alaska, you can face hefty fines, prison time, or both.

Income Tax and Fraud

Income tax fraud is the willful attempt to evade or defraud the IRS and Juneau tax laws. Tax fraud occurs when an individual or business does any of the following:

  • Prepares and files a false tax return
  • Willfully fails to pay taxes
  • Intentionally fails to file an income tax return
  • Intentionally fails to report income received
  • Makes fraudulent or false claims on the tax return

Particularly egregious violations of tax law often make splashy headlines in Juneau. In November 2022, a businesswoman from Alaska received an indictment for ducking $1.5 million in levies.

When Would You Need an Experienced Juneau, Alaska Tax Law Attorney?

Facing Legal Issues Regarding Taxes

If you’re under investigation from the IRS or planning a lawsuit against, you will need a qualified , Alaska attorney who practices tax law. To illustrate, counsel can help collect the information you need and create a viable defense.

When Starting a Business

There’s more to starting a business in , Alaska than selling products or services. You also need to determine the business type and structure. This status, in turn, determines how the business and your earnings get taxed. Choosing the wrong business structure can cost you.

The Tax Foundation says the corporate income tax for companies in Alaska ranges from 2% to 9.4%. Depending on the nature of your business in Juneau, dozens of other tax types could apply. A few of the levies you may need to keep in mind are:

  • Employment Security Tax
  • Sales and Use Tax
  • Alcoholic Beverage Tax
  • Motor Fuel Tax
  • Regulatory Cost Charges

If You Have a Taxable Estate

Your estate can get taxed up to 40% once it surpasses a designated threshold. The current level is more than $11.58 million, or $23.16 million for married couples.

No one wants a huge portion of their estate going to the IRS instead of their heirs. Consequently, an Alaska tax lawyer can be a minimal cost with a significant return on investment.

The Alaska Court System reports the state has not had an estate tax since 2005. However, the federal levy may apply to your situation in Juneau. Generally, it will only become a concern if the decedent’s estate is worth more than $12 million.

Work with an Experienced Tax Law Lawyer In Juneau, Alaska

Facing issues related to tax law can feel overwhelming. No one wants to go head-to-head with the IRS. Experienced , Alaska tax law lawyers have the expertise you need. 

Submit a request online or call us today at (866) 345-6784 to get in touch with an experienced lawyer in your area! We can even help you connect with an attorney across Alaska state lines.

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