Experience. Dedication. Results.
The IRS has more than tripled its use of administrative summons since 2005 to obtain financial documents when taxpayers refuse to cooperate. In fact, this was the most litigated issue by the IRS last year initiated by the more wealthy individuals and businesses who...
The government may seize not only the account funds of a tax debtor held by a financial institution, but also the contents of a safe deposit box maintained at the bank. In a recent case, the state taxing agency seized the contents of a box which contained numerous...
When it comes to audits, the American taxpayer is not the only one that can face challenges. According to recent news reports, the IRS itself has been audited by the Treasury Department and the results indicate problems. The audit conducted was for the 2011 tax year...
On August 14, 2012, the IRS released its draft form W-8IMY Certificate of Foreign Intermediary, Foreign Flow-Through Entity, or Certain U.S. Branches for United States Tax Withholding.Institutions that are organized outside the United States, and classified for U.S....
Favorable gift and estate tax savings are set to expire in just over three months. In order to take advantage of current tax laws, one must effectively give away assets. But that doesn't necessarily mean giving away total control of how those assets are managed and/or...
A bill that recently passed the House of Representatives calls for federal employees to be fired if they owe too much in back taxes. The proposed law, which is now scheduled to go before Senate, would affect California federal employees who were facing substantial tax...
Sean and Nadia Roberts of Tehachapi, California, pled guilty before the Eastern District of California to a criminal information charging them with filing a false tax return under Internal Revenue Code § 7206(1). The charge is related to an undisclosed Swiss bank...
A year ago, California changed its tax laws requiring online retailers to collect sales tax from California residents and businesses who make purchases on-line. California is expecting $200 million in annual sales tax from online retailers, with Amazon being the...
On July 26, 2012, the United States Department of Treasury published two versions of model intergovernmental agreements, a reciprocal and non-reciprocal. These agreements establish a framework for financial institutions to report certain financial account information...
California's First District Court of Appeals issued an opinion on July 24, 2012 giving corporations relief from a 1993 California state law that gave double weight to sales, thereby increasing corporate income taxes on out-of-state corporations while giving those...
