Paying taxes will always remain as one of the few absolutes in society. Filing taxes either for personal or business incomes can be daunting sometimes, and California residents may benefit from having professional assistance. This may be even more helpful as the IRS...
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Month: July 2012
Will You Receive a Call From the FTB?
July 11, 2012, the California State Franchise Tax Board (FTB) announced that it would implement an automated dialer system to make outbound telephone calls to California taxpayers in order to further enhance their collection efforts; which include, but are not limited...
IRS Breaks Law in 22% of Seizures?
On Monday, July 16, 2012, The Treasury Inspector General for Tax Administration (TIGTA) released Fiscal Year 2012 Review of Compliance with Legal Guidelines When Conducting Seizures of Taxpayers' Property (2012-30-072):The TIGTA report presents the results of their...
California farmers may face more IRS audits than other taxpayers
Filing taxes and handling tax implications often present particular challenges to small business owners. These challenges can be exacerbated by the threat of a looming audit. In California and throughout the United States, some industries are particularly subject to...
Congress Criticized for Lack of Action on 100+ Expiring Tax Provisions
Even the IRS is frustrated...Nina Olson, the National Tax Payer Advocate, is urging Congress to act sooner rather than later to resolve the many tax laws that either expired at the end of 2011 or are scheduled to expire throughout 2012. In her report dated June 30,...
Former U.S. residents given penalty break by IRS
Our readers in California will be interested to learn that the IRS recently took steps to separate hard-working ex-patriots who are behind on their taxes from those individuals and companies who may be seeking to hide money in foreign accounts. Previously, the...
IRS Reports $5 Billion Collected From Offshore Disclosures
The Internal Revenue Service's (IRS) third iteration of the Offshore Voluntary Disclosure Program continues to march through 2012 and indefinitely into the future. The IRS is reporting that at this point approximately 34,500 taxpayers have come forward and revealed...
