A review of compliance by the Treasury Inspector General for Tax Administration (TIGTA), found that the IRS does not comply with legal guidelines. The Treasury Inspector General for Tax Administration (TIGTA) released its Fiscal Year 2011 Review of Compliance With...
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Month: November 2011
The IRS Announces Increases to Tax Benefits in 2012
Thanks to inflation, the IRS will increase certain tax benefits that will affect most taxpayers including the estates of decedents dying in 2012.Under the law, most tax provisions are adjusted annually for inflation. The net result of the changes taking effect in 2012...
New Law Means Delinquent Taxpayers Must Pay Up or Face Losing State Licenses
On October 4, 2011, Governor Jerry Brown signed Assembly Bill 1424, The Delinquent Taxpayer Accountability Act, requiring the California Department of Motor Vehicles Department to suspend the driver's licenses of its worst delinquents. "If you don't pay your...
Do you have an out-of-state corporation? Do you know your obligations?
If your out-of-state corporation conducts any business in California, your corporation may have an obligation to file and pay taxes in California. Additionally, California residents are taxed on world-wide income. Therefore, California residents, who receive income...
