Who is Shamsey Oloko and what led him to tax law?
Shamsey Oloko, founder of Thorgood Law Firm in New York, began his career in finance with firms like Goldman Sachs before transitioning into law. With an MBA in finance and experience on Wall Street, he realized that nearly every American interacts with taxes—whether income, sales, estate, or capital gains. His interest in helping people navigate these obligations, combined with the complexity and universality of tax law, led him to become a tax defense attorney.
How does a background in finance help in tax law?
Oloko explains that his time in investment banking taught him to focus on the constant in every business transaction: money—who gets it, who doesn’t, and how much is owed to the government. This financial insight allows him to strategically advocate for clients, ensuring that tax issues are resolved in alignment with broader business goals.
What exactly does a tax lawyer do?
A tax attorney represents individuals and businesses in all types of interactions with tax authorities. This includes IRS audits, sales tax investigations, payroll tax issues, and even criminal tax prosecutions. Unlike CPAs, who may focus on accounting and filing, a tax lawyer provides legal defense and can take cases all the way to U.S. Tax Court or federal court if necessary.
How is a tax attorney different from a CPA?
Oloko emphasizes that while CPAs are vital for compliance and accounting, their scope is limited when legal issues arise. Tax attorneys are trained in both law and finance, allowing them to offer end-to-end representation—including litigation. If a case escalates to court, a CPA must defer to a tax lawyer. Engaging a tax attorney from the beginning can eliminate delays and confusion if enforcement actions occur.
Who typically needs a tax attorney’s services?
Clients range from individuals undergoing IRS audits to businesses facing payroll or sales tax disputes. Oloko’s firm has represented everyone from everyday taxpayers to international entities negotiating tax treaties with the U.S. government. His firm also supports CPAs and tax professionals when cases become too complex or contentious.
What’s a common mistake people make when dealing with the IRS?
According to Oloko, one of the biggest missteps is believing that full honesty without legal guidance is the safest route. While well-intentioned, unfiltered truth can expose taxpayers to further liability. Tax attorneys help clients respond accurately and strategically—filtering necessary information and avoiding unintentional admissions that could trigger broader investigations.
Why is it important to speak through a tax attorney when facing the IRS?
The IRS isn’t always focused on fairness—they’re focused on enforcement. A tax lawyer ensures that every communication protects the client’s interests while staying within the law. By speaking through an attorney, taxpayers avoid opening new legal issues or worsening existing ones with offhand remarks.
How does Thorgood Law help restore peace of mind to taxpayers?
Oloko shares that many clients are overwhelmed by fear and stress—some won’t even open IRS letters. The first goal of his firm is to regain clients’ peace of mind. From the moment representation begins, all communication with the IRS is handled by the legal team, eliminating direct contact for the client and reducing anxiety. The firm then breaks down the case into manageable parts and develops a custom defense strategy.
What types of IRS defense cases does Thorgood Law handle?
Thorgood Law represents clients in:
- IRS and state tax audits
- Criminal tax investigations
- Sales and payroll tax enforcement
- Tax litigation in federal and tax courts
- Complex tax debt negotiations
- Representation for tax professionals under scrutiny
They’ve also helped clients settle millions in IRS liabilities, including one case where a $1.3 million tax debt was reduced to zero.
What is the main theme of the Thorgood Tax Talk podcast?
The podcast aims to demystify the IRS and tax enforcement system. Future episodes will explore the tax collection process, how to respond to IRS notices, and when to involve legal counsel. Oloko intends to educate both laypeople and professionals on how to navigate tax law with clarity and confidence.
What’s one piece of advice Shamsey Oloko wants every taxpayer to know?
“Tax debts don’t get better with age.” Oloko warns against ignoring IRS letters or delaying action. Penalties and interest accrue quickly, and what starts as a $1,500 bill can balloon into tens of thousands. Early action with the help of a tax attorney can significantly improve the outcome.
How can listeners learn more about Thorgood Law and get help with IRS issues?
Thorgood Law offers free consultations to assess the severity of a tax situation. The firm’s website features educational blogs, helpful insights, and easy ways to schedule a call. Whether the issue is minor or serious, Oloko and his team are available to help taxpayers reclaim peace of mind and protect their rights.
