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The Affordable Care Act ("the Act," commonly referred to as "Obamacare") contains currently implemented tax provisions, as well as other that will be implemented during the next several years. According to the Internal Revenue Service, the following are some examples...
By now, most everyone in California has heard about the scandals facing the IRS. Since the story first broke, there have been changes in leadership and the IRS remains under a microscope. As a result, rumors are circulating that there will be fewer audits conducted...
The U.S. is seeking to recover 50% of the account balance for each of the four years taxpayers willfully failed to file an FBAR report in United States v. Zwerner (SD FL No. 13-cv-22082-CMA). The U.S. asserts the Zwerner's hid between approximately $723,000 and...
Business owners operating in California are likely aware of state employment tax and workers' compensation insurance requirements. Many, however, might be unaware of local business tax and related requirements. Local Business Taxes and Fees Local government entities...
Apple, Inc., which is based in the northern part of California, is best known for its iPhones, iPads and Mac computers, along with several other innovative tech gadgets. It is not as well known for being able to avoid paying the IRS approximately $30 billion in taxes....
Revenue Ruling 2013-14 describes a typical Mexican Land Trust (MLT), or fideicomiso, and concludes that the arrangement is not a trust within the meaning of § 301.7704-4(a).
The IRS is continuing to crack down on undisclosed foreign accounts. One common location for offshore accounts - the Caribbean - is now facing increasing scrutiny by the IRS.To read more, click here.
On May 20, 2013, the Supreme Court decided PPL Corp. v. Commissioner, holding that a British "windfall tax" imposed on privatized British companies has the predominant character of an excess profits tax and is therefore creditable under Internal Revenue Code (IRC)...
Many in California have been subjected to scrutiny from the IRS. Well, this time, it's the IRS that's being investigated. The U.S. Attorney General instructed the FBI to begin an investigation into how the IRS has dealt with certain political groups that are...
Luxembourg has recently agreed to enter into the Model I FATCA Agreement, which provides for an automatic exchange of information between the Luxembourg and American fiscal authorities on bank accounts held in Luxembourg by citizens and residents of the United...
