Tax Advice & Tax Controversy

All of the Tax Partners at Ferrari Ottoboni Caputo & Wunderling LLP have the advanced LLM degree in Taxation or are California Bar Certified Specialists in Taxation. The Firm’s Tax group routinely advises on tax oriented wealth transfer planning issues, corporate and partnership income tax issues, resolving tax controversies, resolution of income, estate and gift tax audits, and compliance with tax reporting and filing laws.

Our Tax practice focuses in the following areas:

  • Federal and State Income Tax Planning
  • Estate, Gift and Generation Skipping Transfer Tax Planning
  • Real Property Tax Issues
  • Tax Controversy

Federal and State Income Tax Planning

Our practice routinely advises clients on all aspects of the organization, operating and disposition of real estate or a business whether it is by sale, inheritance, tax free reorganization or otherwise.

Estate, Gift and Generation Skipping Transfer Tax

Our clients benefit from many years of tax expertise and their estate planning documents are drafted so that they contain the flexibility for the Trustee to administer the trusts in dramatically different tax regimes or in response to the changing needs of a beneficiary. Our experienced tax attorneys analyze the transfer tax impact on each client’s estate and provides the client with a plan that achieves the client’s personal goals in transferring their wealth to their descendants while minimizing or managing the future estate and generation skipping transfer tax impacts. In addition, we regularly advise clients in the selection of appropriate life insurance products to complement their estate plan and provide for liquidity for the payment of transfer taxes at their death.

Real Property Tax Issues

Owners of real estate must, by necessity, address a variety of tax issues relating to their real property ownership. Our attorneys have great depth of experience working with the various tax issues facing property owners, and provide valuable insight and assistance to property owners in planning and providing for their real property tax matters. These include the planning and structuring of Section 1031 federal income tax-deferred exchanges of real property, taking advantage of the ad valorem real property tax advantages of, inter alia, Propositions 13 and 58, and pursuing real property tax assessment appeals.

Tax Controversy

Ferrari Ottoboni Caputo & Wunderling LLP regularly represents tax payers in audits and appeals involving the IRS, California Franchise Tax Board and local county Assessor’s Offices. We utilize our wealth of experience and tax expertise to advocate our clients’ position and have resolved most of these cases favorably for our client.

If necessary, our attorneys are experienced in representing the taxpayer in Tax Court and the Federal District Court. A few landmark cases in which various Partners of the Firm have successfully represented the taxpayer against the IRS include:

  • Morris, et al v Commissioner of Internal Revenue, 70 TC 959 (1978) (valuation of stock pursuant to a qualified stock option plan
  • Estate of Evelyn Landsdale Wildman, Deceased v Commissioner of Internal Revenue, 58 T.C.M. (CCH) 1006 (1989) (estate tax valuation of undivided interests in row crop ranch land);
  • Ridgemark Corporation v Commissioner of Internal Revenue¸United States Tax Court, Docket No. 6106-93; T.C.M. 1996-419 (1996) (non-recognition treatment on sale of undeveloped land).
  • Estate of Bunn v Commissioner of Internal Revenue, United States Tax Court Docket No. 1609-96.
  • Estate of Williams v Commissioner of Internal Revenue, United States Tax Court Docket No. 3008-96.
  • Estate of Dale M. Patton v Commissioner of Internal Revenue, United States Tax Court Docket No. 869-98.