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In the past two weeks, three Swiss banks--Bank Linth LLB AG (Bank Linth), Bank Sparhafen Zurich AG (BSZ), and Ersparniskasse Schaffhausen AG (EKS)-have reached resolutions under the Department of Justice's Swiss Bank Program. The Swiss Bank Program, which was...
For those with one or more bank of financial accounts located outside the United States, or those who have signature authority over such accounts, Report 114, Report of Foreign Bank and Financial Accounts is due Tuesday, June 30, 2015. For more information, see the...
On June 3, 2015, the California Labor Commissioner found an Uber driver to be an employee, and thus eligible for reimbursement for mileage and other expenses while providing rides for the tech company, which claims to be engaged in the business of providing lead...
In its pledge to seek financial transparency, the Holy See (the ecclesiastical jurisdiction of the Catholic church) signed on to become the newest member to FATCA, the U.S. Foreign Account Tax Compliance Act, that requires banks and financial information to report...
On June 9, 2015, the Department of Justice Tax Division announced it had reached resolution with two more banks in its Swiss Bank Program. Société Générale Private Banking will pay a $17.807 million penalty and Berner Kantonalbank AG will pay a $4.619 million penalty...
On Monday the Ninth Circuit Court of Appeals issued an opinion in Slone v. Commissioner of Internal Revenue, No. 12-72464 (and related cases). At issue in Slone was whether shareholders of Slone Broadcasting could be held liable for the unpaid tax liabilities of Slone...
In a recent edition of TaxTips, the IRS reminds taxpayers of pending deadlines related to foreign income and assets. All U.S. citizens and residents must report worldwide income on their federal income tax return. If you lived outside the U.S. on the regular due date...
With graduations in full swing and high school seniors preparing to leave home for college, employment, or other adventures, it may be time to consider estate planning documents for your 18 year old. It may not initially make sense for an 18 year old to need an estate...
When you close your doors, you have to follow certain formalities so that California knows you are no longer in business. The California Franchise Tax Board has published helpful information to dissolve, surrender, or cancel a business entity in California. In...
A tax preparer was recently convicted in U.S. District Court, Eastern District for aiding and assisting in the preparation and presentation of a false and fraudulent tax return. The defendant, Sarad Chand, admitted preparing false tax returns with inflated or false...
