On behalf of Law Office of Williams & Associates, P.C. | Sep 28, 2012 | Tax Debt
There are circumstances that arise which may put an individual in a financial hole with the IRS. This can often lead to a California resident owing back taxes to the state and federal government, which can amass quickly if left unresolved. Although the fear of an IRS...
On behalf of Law Office of Williams & Associates, P.C. | Sep 27, 2012 | IRS, Tax Controversy, Tax Crimes, Tax Debt
In Broadwood Investment Fund LLC v. United States, No. 08-0295 (C.D. CA Sept. 21, 2012), a California federal district court judge rejected, on summary judgment, a bid by Broadcom co-founder Henry Nicholas, III, to claim hundreds of millions in tax losses from a tax...
On behalf of Law Office of Williams & Associates, P.C. | Sep 21, 2012 | FTB, Tax Controversy, Tax Crimes
According to the FTB, two professionals cost the state more than $7.6 million due to their involvement promoting an abusive tax avoidance transaction (ATAT). Each faces three felony counts of aiding in the preparation of false state income tax returns and one felony...
On behalf of Law Office of Williams & Associates, P.C. | Sep 21, 2012 | Tax Debt
Many homeowners are currently enjoying some much needed relief on the principal of their mortgage loans. Although this relief has assisted many in either selling their home through a short sale or making existing monthly payments more affordable, a tax issue may be on...
On behalf of Law Office of Williams & Associates, P.C. | Sep 18, 2012 | IRS
The Recorder, a California legal publication, reports on oral argument in a Ninth Circuit case involving the act of production doctrine. Under this doctrine, a person can invoke his Fifth Amendment rights against the production of documents only where the very act of...
On behalf of Law Office of Williams & Associates, P.C. | Sep 17, 2012 | Uncategorized
Coming up this month:Amy Halloran will present “Tax Aspects of Estate Planning” for Young Tax Lawyers on September 20, 2012Ms. Halloran will discuss the some of the most costly mistakes in estate planning when income tax aspects are ignored and how a good...
On behalf of Law Office of Williams & Associates, P.C. | Sep 14, 2012 | IRS, Tax Controversy
Not rain, nor sleet, nor snow will stop the U.S. Postal Service from delivering your Tax Court Petition, but try to save a few bucks by using Federal Express’ “Express Saver Third Business Day” and your petition is not considered “mailed”...
On behalf of Law Office of Williams & Associates, P.C. | Sep 14, 2012 | International Tax Law, IRS
This week the Treasury Department and the United Kingdom signed a bilateral agreement to implement the information reporting and withholding tax provisions under the Foreign Account Tax Compliance Act (FATCA). The model agreement was developed in July 2011 with input...
On behalf of Law Office of Williams & Associates, P.C. | Sep 14, 2012 | IRS
In a recent announcement, the California Controller has indicated his office is broadening a review of public employee retirement accounts. He stated that his office needed further time to complete the audits so they can review all the targeted accounts. These...
On behalf of Law Office of Williams & Associates, P.C. | Sep 13, 2012 | IRS, Tax Controversy, Tax Debt
Although most taxpayers are not deliberately trying to commit a crime by filing a “creative” tax return, or simply not filing a tax return, the reality is that such action, or inaction, can in fact lead to a criminal or civil fraud investigation. Although...
