On behalf of Law Office of Williams & Associates, P.C. | May 31, 2012 | Tax Controversy
Readers in the Sacramento area may have seen reports regarding the tax issues surrounding Eduardo Saverin. Saverin is a co-founder of social media powerhouse Facebook, and the tax controversy stems from his renouncing his U.S. citizenship shortly before...
On behalf of Law Office of Williams & Associates, P.C. | May 24, 2012 | IRS
The Internal Revenue Service (IRS) recently announced, under release IR-2012-53, that they will expand their “Fresh Start” initiative by offering more flexible terms in their Offer in Compromise (OIC) program. An OIC is one method a taxpayer can use to...
On behalf of Law Office of Williams & Associates, P.C. | May 22, 2012 | Audits
State schools and private nonprofit universities in California will need to be on the alert in their bookkeeping, as more than 30 state schools and private nonprofits throughout the country have already been subject to audits by the IRS this year. The agency says...
On behalf of Law Office of Williams & Associates, P.C. | May 17, 2012 | IRS
It is no secret that the world is increasingly becoming a smaller place, especially when measured by the Internal Revenue Service’s (IRS) long reach. An article in the New York Times discusses how Americans living abroad are coming under pressure to declare...
On behalf of Law Office of Williams & Associates, P.C. | May 16, 2012 | Uncategorized
Next month, Betty Williams will be speaking at the 2012 Annual Income Tax Seminar on June 22, 2012 at Golden Gate University in San Francisco.Ms. Williams, Steven Walker, and Susan Morse will be presenting on “International Tax Enforcement and Expanded...
On behalf of Law Office of Williams & Associates, P.C. | May 15, 2012 | Tax Controversy
Tax controversies often involve questions about the actions of taxpayers who may or may not have intended to file a false return. However, recent reports show a significant increase in fraudulent returns filed in connection with taxpayers’ stolen identities.The...
On behalf of Law Office of Williams & Associates, P.C. | May 15, 2012 | IRS, Tax Controversy
The U.S. Department of Justice (DOJ) and the Internal Revenue Service (IRS) recently announced that attorney Aristotle “Rick” Matsa was convicted of tax fraud and obstruction of justice related offenses, including witness tampering. Additionally, Mr. Matsa...
On behalf of Law Office of Williams & Associates, P.C. | May 9, 2012 | IRS
required to recognize income from discharge of indebtedness, gain deferred pursuant to its installment sale, or gain on a disposition of an installment obligation.The taxpayer sold property to a new corporation controlled by a private equity firm in exchange for cash...
On behalf of Law Office of Williams & Associates, P.C. | May 8, 2012 | Tax Crimes
A 68-year-old economist who currently resides in California was recently charged with a number of tax crimes. In addition to tax evasion, he has additionally been charged with obstruction of the IRS, failure to file a tax return and failure to pay taxes. If convicted,...
On behalf of Law Office of Williams & Associates, P.C. | May 3, 2012 | IRS
In Notice 2012-34, the IRS has announced it will delay the proposed effective dates for information reporting by securities brokers for transactions related to debt instruments and options by one year.The new regulations recommend changes to the reporting requirements...
