On behalf of Law Office of Williams & Associates, P.C. | Sep 30, 2013 | FTB, Multi-State, New Laws
The complexity of California income tax laws for non-California businesses is not new. Whenever nonresident businesses have income sourced to California, California will assess income tax in many cases. Public Law (PL) 86-272 still exempts out-of-state businesses from...
On behalf of Law Office of Williams & Associates, P.C. | Sep 30, 2013 | Uncategorized
The complexity of California income tax laws for non-California businesses is not new. Whenever nonresident businesses have income sourced to California, California will assess income tax in many cases. Public Law (PL) 86-272 still exempts out-of-state businesses from...
On behalf of Law Office of Williams & Associates, P.C. | Sep 25, 2013 | Tax Controversy
The IRS recently announced that it was granting tax-exempt status to True the Vote. The IRS and the Department of Justice may believe that this tax controversy may be over, but True the Vote says there are still questions that it needs answered. As many businesses in...
On behalf of Law Office of Williams & Associates, P.C. | Sep 24, 2013 | Estate Planning
There is one simple estate planning tool you can accomplish immediately and without having to call a lawyer-updating your beneficiary designations.Many assets, including bank, brokerage, retirement, company benefit plan, life insurance, and 529 college accounts are...
On behalf of Law Office of Williams & Associates, P.C. | Sep 19, 2013 | International Tax Law, IRS, OVDP
Although the IRS won’t comment on the reason Bank Leumi customers were kicked out of the IRS’ Offshore Voluntary Disclosure Program (OVDP) after not only being accepted into the program, but after some had already received a final clearance and paid...
On behalf of Law Office of Williams & Associates, P.C. | Sep 18, 2013 | IRS
The IRS has posted new information to its website, in the form of frequently asked questions (FAQs), relating to FATCA. One set of FAQs focuses on the registration system and can be located at this link. A second series of FAQs involves FACTA issues relating to...
On behalf of Law Office of Williams & Associates, P.C. | Sep 17, 2013 | IRS
Many people in California have been following the court battles spawned by Michael Jackson’s death. There could be yet another battle brewing for the late singer’s family — this one in the United States Tax Court. The IRS has made a seemingly...
On behalf of Law Office of Williams & Associates, P.C. | Sep 17, 2013 | Back Taxes Or Tax Debt
The City of Los Angeles announced a tax amenesty program for qualified taxpayers owing Business, Utility Users Taxes (Telephone, Electricity, Gas), Commercial Tenant’s Occupancy, Transient Occupancy, and /or Parking Occupancy Taxes. The amnesty program is being...
On behalf of Law Office of Williams & Associates, P.C. | Sep 14, 2013 | Audits, IRS, Tax Crimes
Despite accusations that the notorious Capone was guilty of directing or committing many crimes through his organized syndication, tax evasion was ultimately the offense the federal government pursued which resulted in Capone’s sentence to federal prison...
On behalf of Law Office of Williams & Associates, P.C. | Sep 11, 2013 | FTB
Last December, the Second District Court of Appeal for California ruled in Cutler v. Franchise Tax Board that a California business incentive program violated the US Constitution’s Commerce Clause. The program was enacted 20 years ago to allow investors selling...
