by bettywilliams | Jul 20, 2020 | FTB
A California Appellate Court recently held that all of a trust’s California source income is taxable in California, regardless of the state of residence of the trust’s fiduciaries. The Court clarified that it is non-California source income that is dependent on the...
by bettywilliams | Jul 20, 2020 | IRS, Tax Crimes
In the IRS’ annual “Dirty Dozen” list of tax scams for the year, taxpayers are urged to watch for some of the old tricks, like fake e-mail messages or threatening phone calls by those purporting to be the IRS, to newer scams of fraudsters posing as fake charities...
by bettywilliams | Jul 15, 2020 | IRS, Tax Audits, Tax Crimes
The Department of Justice and U.S. Attorneys’ Offices around the Nation regularly investigate and prosecute tax preparers who prepare and file fraudulent income tax returns with the IRS. These government agencies are now seeking out those fraudsters who have filed...
by bettywilliams | Jul 14, 2020 | Audits, IRS
IRS insiders have indicated that the IRS’ Global High Wealth Industry Group will be targeting hundreds of wealthy taxpayers for audit beginning now and throughout the fall. These audits will likely include the taxpayer’s individual tax return, along with all...
by bettywilliams | Jul 14, 2020 | International Tax Law, OVDP, Tax Crimes
It has been two years since international tax leaders from Australia, Canada, the Netherlands, the United Kingdom, and the United States joined forces in the “J5” to combine resources to target enablers of tax crime, particularly related to virtual currency. Since its...
by bettywilliams | Jul 13, 2020 | IRS
Although the federal and state tax agencies may have been generous with late filing and payment due to COVID-19, it is important that taxpayers pay attention to proper withholding throughout the year to avoid a large tax bill at the end of the year, and possible...
by bettywilliams | Jul 6, 2020 | IRS
The IRS has released guidance on how to select a tax professional and reminders regarding a taxpayer’s obligations to review the tax return before signing and submitting the return to the IRS. Read more here.
by bettywilliams | Jul 2, 2020 | IRS
If you have not filed a 2016 income tax return and may be due a refund from the IRS, time is nearly out to claim your refund. The IRS estimates 1.4 million people may fall into the category of those who are due a refund. File now!
by bettywilliams | Jul 1, 2020 | IRS
The IRS Taxpayer Advocate has issued their Report to Congress with FY 2021 priorities that deserve the closest scrutiny and congressional oversight being improving taxpayers’ experience with the IRS, protecting the rights of taxpayers impacted by COVID-19, reducing...
by bettywilliams | Jun 17, 2020 | IRS
A federal appellate court upheld an order enforcing an IRS summons sent to the Taylor Lohmeyer Law Firm, PLLC. The firm was required to provide information regarding foreign bank accounts and entities it assisted clients in forming. The government argued that by...
