The IRS has several online options to assist taxpayers with timely payments to reduce or eliminate late fees and penalties. Once the taxpayer creates an online account through the IRS’ online portal, the taxpayer can choose among options to pay including Direct Pay,...
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Tax Debt
Gig Economy and Other Worker Classification May Differ for Federal and California Purposes
Nearly a year ago, the U.S. Department of Labor issued an opinion that most "gig economy" workers are properly classified as independent contractors.The gig economy labor market is made up of individuals who complete short-term contracts or freelance work, rather than...
Victims of the California Wildfires Must File with County for Property Tax Relief; May Qualify for State and Federal Tax Relief
California counties will not automatically reassess homes due to the recent fires, because the law requires that the counties first receive an application from the homeowner. Those who lost property will need to file the appropriate county casualty abatement...
Corporations with Federal Tax Liabilities Barred from Contracting with Government Agencies
If your company contracts with the Department of Defense, General Services Administration, or the National Aeronautics and Space Administration (NASA), you have one more reason to be compliant with your federal tax obligations: Effective September 30, 2016, these...
Closing a Business in California? Following the rules of the IRS and California Tax Agencies.
When it's time to close a business in California, there are many important steps that must be followed to ensure the requirements of the IRS and the California tax agencies are met. Failing to do so can result in the tax agencies coming back years later to collect tax...
OECD Recommends Steps to G8 to End Offshore Tax Evasion
The Organization for Economic Cooperation and Development (OECD) has identified four steps necessary for transparency and the automatic exchange of information regarding financial accounts through a cost effective and secure system, in an effort to end offshore tax...
Back tax debt problems come to the forefront during tax season
As tax season rapidly speeds by, it's probably a good time for those with tax problems from prior years to take some action to try and resolve those issues. A person who struggles with tax debt often falls into a deep cycle of self-perpetuating procrastination. In...
FTB to Hold Interested Party Meeting Concerning Its Financial Institution Program that Identifies Accounts of Delinquent Tax Debtors.
The Franchise Tax Board (FTB) is having a public hearing regarding its Financial Institution Records Match (FIRM), one of its most important tools in the collection of delinquent tax liabilities. The hearing is scheduled for 1:00 p.m., on Wednesday, March 27, 2013, at...
California hitting up entrepreneurs for back taxes
California entrepreneurs were likely very surprised recently when they found out they were liable for paying four years' worth of taxes to the state that they were previously not required to pay. Last December, the Franchise Tax Board eliminated a capital gains tax...
California man contests tax debt dating back to 1990s
Tax issues can follow an individual for a long time if they choose not to address it by coming to an agreement with the IRS on how they will pay this debt. However, what if an individual claims to have paid the tax debt but still gets a bill years later? A California...
