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The J5 joined forces recently to thwart tax evasion activities by an international financial institution located in Central America that facilitated the concealment and transfer of wealth around the world. This first-time action has paid off in achieving the joint...
The IRS recently warned taxpayers about a trend that could ultimately leave taxpayers spooked. Whenever taxpayers pay a professional to prepare their tax return, the tax professional must sign the tax return and include their PTIN number on the return. A “ghost” tax...
Two recent court decisions are helping to quell the effects of the recently-passed Assembly Bill AB 5 (Gonzales, Chaptered September 18, 2019) in regard to California trucking companies, by determining that federal law preempts the most problematic part of both AB 5...
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...
The IRS issued its 2019 Report with an opening message that, "Our people are the strength of the IRS and we want to do more!" The report provides insight into the extent of the IRS' efforts in helping people throughout the country, and plans to increase efforts in...
We are used to the IRS advising individuals of how to protect against identity theft, but now businesses are a target of the same threat. As a result, the IRS has increased efforts in cybersecurity to protect the latest targets on business owners. It is crucial that...
The IRS issued its Criminal Investigation Division's annual report regarding its activities and successes in thwarting tax crimes over the past year. Primary areas of investigation included cybercrimes involving cryptocurrency, employment tax, international tax...
As recently discussed here, the current state of the law allows business owners in the cannabis industry to take certain deductions on their state income tax returns, but not on their federal tax returns. That may soon change. The House Judiciary Committee approved...
The California Office of Tax Appeals (OTA) recently reversed a Franchise Tax Board (FTB) proposed assessment of a Texas-based independent contractor working for a California-based company. The OTA found that income reported to the contractor on a Form 1099-MISC did...
Following the California Supreme Court decision in Dynamex Operations v. Superior Court, 4 Cal. 5th 903 (2018), which identified the "ABC Test" for worker classification for the purposes of California's wage and hour determinations under the IWC Wage Orders, and now...
