Experience. Dedication. Results.
The California Franchise Tax Board (FTB) recently announced that interest rates for personal income tax underpayments and overpayments, corporate underpayments, and estimate penalties will increase to 6 percent for 2019. The corporate overpayment interest rate will...
After a two-year vacancy, the Internal Revenue Service (IRS) has a Chief Counsel again. Michael Desmond, a California tax attorney originally nominated by President Donald Trump last year, was confirmed 83-15 today by the Senate to oversee regulation...
The New Hampshire Senate unanimously approved S.B. 242 last week, a bipartisan bill that aims to protect state businesses from the effects of last year's Wayfair decision, which allows states to impose sales and use tax regulations on e-retailers and other...
The U.S. Senate is scheduled to vote to confirm Michael Desmond as Internal Revenue Service (IRS) Chief Counsel as soon as this week, and to IRS Commissioner Chuck Rettig, confirmation would be a benefit to the tax agency. "Having a confirmed chief counsel is...
The Treasury Inspector General for Tax Administration (TIGTA) recently reported on self-employment tax compliance in light of the growth of the gig economy. The IRS last estimated that self-employment taxes accounted for $69 billion of the annual tax gap. TIGTA...
Recent news accounts have claimed that federal taxpayers are receiving smaller tax refunds for the 2018 filing season, implying that their taxes are higher as a result of the 2017 Tax Cuts and Jobs Act. According to research by the Wall Street Journal, however,...
Nevada-based tax preparer and former IRS employee Thomas Bidegary was recently sentenced to five years in prison for conspiring to commit tax fraud, causing a tax loss of nearly $260,000 to the federal government. Between 2009 and 2014, Bidegary prepared false tax...
National Taxpayer Advocate Nina E. Olson recently released a report to Congress concerning the problems facing taxpayers with respect to their interactions with the Internal Revenue Service (IRS). For the 2018 filing season, she cites the government shutdown as the...
The IRS recently released its annual report to Congress on the Whistleblower Program, which awarded over $312 million to whistleblowers and collected $1.4 billion in FY 2018. Awards in this period represent 21.7% of total proceeds collected based on whistleblower...
The Internal Revenue Service (IRS) recently issued final regulations and related guidance on the new qualified business income (QBI) deduction created by the 2017 Tax Cuts and Jobs Act. Eligible business owners and taxpayers can now deduct up to 20 percent of their...
