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The fiscal cliff, Washington's latest catch-phrase, holds a surprise for California taxpayers seeking early filing opportunities. According to acting IRS Commissioner Steven Miller, the tax controversy looms trouble on the horizon for nearly two-thirds of America's...
The American Taxpayer Relief Act of 2012, passed by Congress in the final hours of 2012 and signed by President Obama on January 1, 2013, includes significant estate and gift tax law.Among its many tax provisions, the 2012 Act makes permanent the $5,000,000 gift,...
California residents are probably beginning to gather all their documents in preparation for filing their taxes soon. The IRS is becoming aware of taxpayers who are not in compliance with the requirements of IRA distributions and are issuing a warning that they will...
Tax Analysts is reporting that on December 19, the IRS released an agreement signed by U.S. and Norwegian competent authorities that clarifies special sourcing provisions in the Norway-U.S. income tax treaty with regard to income received for performing...
There are a substantial number of criteria that must be met for an organization to be considered exempt from taxes. Normally, a 501 (c) 3 status allows certain organizations to be free from paying taxes based on their organization's not-for-profit goal. To meet the...
Reuters is reporting that on December 14, 2012, the Swiss government announced a plan in an effort to clean up the country's image as a haven for untaxed assets. The plan, however, fell short of a requirement which would have required banking clients to prove that...
The Internal Revenue Service (IRS) announced that it is revising and expanding eligibility for its Voluntary Classification Settlement Program (VSCP), extending the program through June 30, 2013. The VSCP is available to businesses, tax-exempt organizations and...
Reuters is reporting that the United States (US) and Ireland have agreed to share information about wealthy citizens' financial accounts in an agreement intended to combat tax evasion. This pact marks the latest in a series of bilateral agreements announced in recent...
The New York Times recently reported that Starbucks offered to pay Great Britain around $16 Million dollars in corporate taxes in order to quell the protests against the retail coffee giant, when it was revealed that Starbucks had not paid corporation tax in the U.K....
On December 10th, 2012, Franchise Tax Board (FTB) Executive Officer, Selvi Stanislaus, announced Jozel Brunett as the FTB's new Chief Counsel. Ms. Brunett has been with the FTB for 18 years. Ms. Brunett was most recently director of the Tax Administration and...
