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Now that April 15 has passed, many California taxpayers are breathing a sigh of relief that they don't have to deal with the IRS for another year. However, that may not be the case. It is in the days, weeks and even months following April 15 that the IRS sends letters...
The Ninth Circuit Court of Appeals held that erroneous advice from an accountant that an estate tax return (IRS Form 706) could be extended for filing and payment purposes by one year did not qualify for penalty abatement as "reasonable cause."In Knappe v. United...
The California Employment Development Department (EDD) thinks so. Following a recent precedent Tax Decision from the California Unemployment Insurance Appeals Board (CUIAB), the EDD is enforcing a new worker misclassification policy that affects franchisors and...
A federal court in San Francisco authorized the Internal Revenue Service (IRS) to serve a John Doe Summons seeking information about U.S. taxpayers who hold correspondent accounts at Wells Fargo for Canadian Imperial Bank of Commerce's FirstCaribbean International...
Most everyone knows that Mark Zuckerberg is the founder and CEO of the popular social media site Facebook. What may not have been as well known until recently is that Zuckerberg owes more than $1 billion in taxes to the IRS and the state of California. That represents...
The Treasury Inspector General for Tax Administration has reported that the amount of tax fraud perpetrated by prison inmates has risen upwards of 1,000 percent over the past 10 years. Reportedly, these tax crimes tend to go unpunished for years at a time. Some...
Recently, in Watson, P.C. v. Unites States, 668 F.3d 1008 (8th Cir. 2012), the Court of Appeals held that the Internal Revenue Service (IRS) properly re-characterized S-Corporation distributions as wages and were therefore subject to employment taxes. Watson should...
Two Phoenix-area businessmen have been convicted of filing false federal income tax returns by concealing millions of dollars of assets in several secret Swiss bank accounts.On April 12, 2013, the U.S. Department of Justice (DOJ) announced that a jury...
Two Phoenix-area businessmen have been convicted of filing false federal income tax returns by concealing millions of dollars of assets in several secret Swiss bank accounts.On April 12, 2013, the U.S. Department of Justice (DOJ) announced that a jury...
