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Although personal income taxes are typically due on April 15, the IRS announced that 2012 personal income tax returns will be due on Tuesday April 17. But you can e-file as early as January 17! For all the details, visit...
The IRS has identified the eight most common areas examined nationwide that arise in examinations of entities. These areas also arise in compliance checks and can be avoided by using the IRS' Compliance Self-Assessment Tool which allows entities to efficiently review...
Manhattan U.S. Attorneys are charging three Swiss bankers with conspiring to help U.S. clients hide more than $1.2 billion from American tax authorities. All three employees remain at the Wegelin, the bank in question, which does not have offices or branches in the...
This fall the FTB issued a Notice of Proposed Assessment concerning a client's 2006 taxes. Specifically, the FTB was proposing an assessment that would result in our client paying thousands of dollars in additional tax, penalties and interest. Our client was about to...
It likely isn't surprising to Sacramento readers that cautionary tales regarding compliance with California and federal tax laws abound. One such tale came closer to its end recently, when a California real estate developer was sentenced to 30 months in prison after...
The IRS is using California law as a model for new education requirements for tax preparers. The new requirements will go into effect in 2012, their purpose being to prevent tax fraud and protect taxpayers from bad decisions on the part of preparers.The new IRS...
The IRS has released Form 8938 which is required to be attached to your 2011 Form 1040 if your foreign assets exceed certain thresholds. Anyone living in the U.S. or abroad, as a U.S. citizen, resident (or non-resident filing a joint return with a resident), and even...
Forbes Magazine is reporting that federal judge, Morrison C. England, Jr., will allow the IRS to mine California records for unreported gifts of real estate. For a long time the IRS has wanted to crackdown on the widespread failure of taxpayers to adequately file the...
Investors have had very little to cheer about the last few years, and the bad news continues for many. Just over a month age, MF Global filed for bankruptcy protection, and that investigators have subsequently discovered that approximately $1.2 billion of assets in...
It has been said that the only thing a person can count on is death and taxes, both of which greatly impact estate planning professionals. However, in the last several years, while death has remained a certainty, taxes have been another story.In 2001, then-President...
