Tax Attorneys Serving Clients In New Orleans and Louisiana
Montgomery Barnett, LLP’s tax attorneys advise clients on federal,
state and local tax controversies and litigation, tax planning and controversy,
personal and closely held business counseling and planning, and real property
tax planning and appeals. We also represent tax exempt entities in all
phases of operations, and assist clients in making contributions to such
The consideration of tax implications is important for corporations, closely-held
businesses and nonprofit organizations. Businesses require accurate guidance
on today's complex and continually changing federal and state tax
laws as they relate to a full range of transactions including asset-based
financings, mergers and acquisitions, corporate reorganizations and bankruptcies.
Our tax attorneys advise on all aspects of federal, multi-state and local
taxation and tax structuring for clients including corporations, partnerships,
limited liability companies, trusts, sole proprietorships, as well as
individual clients and nonprofit and tax-exempt organizations.
We provide tax planning advice and assist clients in structuring transactions
to achieve the best results under federal, state and local tax laws. From
advising on choosing the appropriate entity for a closely-held business
to directing the sale or dissolution of a business or its assets or business
succession planning, our tax attorneys help identify and plan for the
associated tax consequences to help clients reach their goals.
Federal Tax Controversy & Tax Resolution
The tax lawyers at Montgomery Barnett, LLP represent businesses and individuals
before the Internal Revenue Service in tax controversies and litigation.
Our tax attorneys have successfully resolved federal tax problems for
individuals and businesses involving income, estate and gift, payroll,
employment and excise taxes in all phases of the tax controversy process,
from the beginning of the civil tax audit, to the preparation of tax protests
and negotiation with IRS Appeals, to litigation in the United States Tax
Court and in the Federal District Courts.
We have substantial experience in international and domestic tax issues,
worker classification, the defense of trust fund liability assertions,
obtaining releases of IRS bank levies and federal tax liens, claims for
innocent spouse relief, penalty abatements and the negotiation of installment
agreements under the IRS Fresh Start Program and Offers-in-Compromise
with the IRS. Montgomery Barnett, LLP’s tax lawyers counsel taxpayers
with undisclosed offshore accounts or assets regarding the Internal Revenue
Service’s Offshore Voluntary Disclosure Program (“OVDP”)
and assist employers in qualifying for the Voluntary Classification Settlement
Program (VCSP) to voluntarily reclassify workers as employees for future
Our tax lawyers have expertise finding solutions to IRS collection problems.
Louisiana State and Local Tax Controversy & Tax Resolution
Montgomery Barnett, LLP’s tax attorneys skillfully represent clients
in state and local tax matters involving state income tax, corporation
income and franchise taxes, withholding tax and state and local sales
and use tax at the audit, administrative and appeal levels.
We have a comprehensive understanding of the tax procedures and tax controversy
process in Louisiana and when state or local controversies cannot be resolved
through administrative appeal or negotiated settlement, we represent clients
in Louisiana state courts and in the Louisiana Board of Tax Appeals.
In addition, our tax lawyers routinely negotiate installment agreements
with the Louisiana Department of Revenue and the local tax collectors
in Louisiana’s 64 parishes, assist taxpayers in making voluntary
disclosures to state and local taxing authorities and advise businesses
with respect to apportionment and allocation of income among the states
in which they operate.
Real Property Tax and Appeals
Property tax assessments around the nation have risen dramatically in recent
years, creating a greater burden for businesses, developers, agencies
and financial institutions. The firm's tax attorneys counsel clients
with respect to property assessments and exemptions for qualified taxpayers.
Should an appeal become necessary, our attorneys are responsive and efficient
in filing claims, dealing with assessors and appearing before tax boards
Tax Exempt Entities
Tax-exempt organizations face many challenges as they strive to provide
excellent services and care while controlling costs.
The tax lawyers at Montgomery Barnett, LLP advise and represent tax-exempt
organizations in all phases of operations, and assist individuals and
businesses in making charitable contributions to such organizations.
Estate Tax and Capital Gains Tax Planning
As a result of the American Taxpayer Relief Act of 2012, the federal estate
tax exemption in 2015 is $5.43 million per individual (a married couple
obtains the benefit of two exemptions to exclude nearly $11 million from
their combined taxable estates) and the exemption amount is automatically
indexed for inflation.
Therefore, the estate-planning focus for high-net worth individuals has
shifted to minimizing capital-gains taxes and income tax planning. Surviving
spouses can now claim the unused portion of their partner’s estate
tax exemption, although the survivor must file IRS Form 706, U.S. Estate
(and Generation Skipping Transfer) Tax Return, within nine months of the
death to claim the unused exemption.
Montgomery Barnett, LLP’s tax attorneys are available to advise clients
in reviewing their estate plans to determine if they might realize tax
savings on capital gains by choosing carefully which asset to hold on
to until death in order to obtain a “step-up” in basis and
avoid capital-gains tax on appreciation of such assets.
Couples who still maintain tax-saving trusts that they set up years ago
in order to avoid estate taxes, could actually raise taxes for their heirs,
because there will be no step-up in basis on the subsequent growth of
the assets held in trust. By leaving the same assets directly to a spouse,
future growth could escape capital-gains tax at the second death.
Individuals who established more sophisticated tax-saving vehicles, such
as a grantor-retained annuity trust (GRAT), should also examine them with
a step-up in mind. GRATs are used to transfer the appreciation in an asset
that is expected to increase in value free of estate tax. However, if
the asset has a low-cost basis, it might be more advantageous to replace
a low-cost asset in the GRAT with a higher cost asset.
The tax lawyers at Montgomery Barnett, LLP are available to assist clients
in re-evaluating their estate plans to accomplish transfers of assets
to their heirs and to minimize taxes on death.