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The IRS has published the new 2011 Data Book, which is available here. The book contains various interesting statistics relating to the IRS's criminal investigation function.Table 18, Criminal Investigation Program, by Status or Disposition, Fiscal Year 2011 is...
The IRS just announced penalty relief for any farmers who had to file their return after March 1 due to delays associated with the MF Global bankruptcy case. This new release indicates the magnitude and far-reaching implications associated with untangling MF Global's...
Many California residents may have heard of the multi-state settlement that was reached recently with many of the nation's largest lenders. The settlement includes a provision under which lenders will reduce a portion of the principal on some mortgages. However,...
The IRS is seeking public comment in advance of issuing updated published guidance with respect to requests for Advance Pricing Agreements and Competent Authority assistance. The IRS announced certain organizational and administrative changes and...
The California Franchise Tax Board (FTB), recently released Legal Guidance Division 2012-03-02 where it addressed the following question: Can a taxpayer make a valid single sales factor (SSF) election and also report tax computed without the election in order to avoid...
The IRS deadline for filing your tax return for 2011 is rapidly approaching, which means more people are becoming concerned about receiving that dreaded audit. Recently, we mentioned how the IRS is increasingly turning to so-called unreal audits ("Audits may not be...
Reuters is reporting that despite the Internal revenue Agency's (IRS) 2012 fiscal budget cut of 2.5%, newly appointed Transfer Pricing Director, Samuel Maruca, is recruiting talent to crack down on companies that shift their profits from country to country in order to...
The Franchise Tax Board (FTB) recently released Legal Division Guidance 2012‐03‐01. While FTB's "Legal Division Guidance" is not considered "written advice", the guidance often relates to recently-enacted legislation where there may be little available commentary or...
U.S. citizens and resident aliens residing overseas or those serving in the military outside the U.S. on April 17, 2012 have until June 15, 2012 to file their federal income tax returns. For information on forms, world-wide income, foreign earned income exclusion and...
The failure to pay taxes could land one in hot water not only with the IRS but also with state and local authorities. The state of California even went so far as to publish a list of individuals and companies who apparently owe the most unpaid taxes since 2007....
