On behalf of Law Office of Williams & Associates, P.C. | Aug 24, 2018 | DOJ
A Californian pleaded guilty this week before the U.S. District Court, Central District of California, to willfully failing to disclose over $1 million held in offshore bank accounts. He and the bank also took other steps to hide and secretly access his funds. The man...
On behalf of Law Office of Williams & Associates, P.C. | Aug 23, 2018 | IRS
The Tax Cuts and Jobs Act of 2017 limits the annual federal tax deduction for state and local taxes to $10,000. In response to this limit, some states with higher tax rates (including California) considered programs that would allow taxpayers to characterize tax...
On behalf of Law Office of Williams & Associates, P.C. | Aug 10, 2018 | FTB
Federal and California state tax agencies have offered relief to certain taxpayers affected by the 2018 wildfires in Northern California. The Internal Revenue Service will postpone specific deadlines, waive penalties, and provide other relief as detailed here. The...
On behalf of Law Office of Williams & Associates, P.C. | Aug 10, 2018 | CDTFA
Back in June, the U.S. Supreme Court issued a decision in South Dakota v. Wayfair, Inc. that reversed Quill’s requirement for physical presence to establish sales tax nexus for out-of-state businesses. Individual states are now hurrying to decide upon economic...
On behalf of Law Office of Williams & Associates, P.C. | Aug 7, 2018 | OVDP
The Department of Justice recently imposed another $5.3 million penalty on Bank Lombard Odier & Co., Ltd., a Swiss bank that has already paid over $99 million for offering offshore banking services to U.S. taxpayers without disclosing their transactions. Since...
