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...
Experience. Dedication. Results.
Photo of Professionals at Law Office of Williams & Associates, P.C.
Tax Debt
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...
California tax board having difficult time collecting tax debt
Each year there is a substantial issue to be addressed for those businesses that owe taxes to state and federal agencies. Although companies are usually given notice of their tax debt obligations, there are some who simply cannot afford to pay these taxes at the end...
Negotiating back taxes in California may be possible
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...
Federal Judge Shoots Down Hundreds of Millions in Tax Losses claimed by Broadcom Co-Founder
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...
California mortgage assistance could lead to surprise 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...
IRS Audits Lead to Fraud Referrals as the IRS Seeks to Collect Revenue
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 the statute...
Lawsuit claims California company faces large amount of tax debt
An ex-employee of a large real estate development company has filed suit against his former employer, alleging that the company used an illegal tax shelter process. The man in his suit claims that the California company owes over $500 million in tax debt. Once the...
Increase in IRS Summons Enforcement
The IRS has more than tripled its use of administrative summons since 2005 to obtain financial documents when taxpayers refuse to cooperate. In fact, this was the most litigated issue by the IRS last year initiated by the more wealthy individuals and businesses who...
