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The popularity of S-Corporations has continued to rise for small business owners. According to the Internal Revenue Service, the number of tax returns filed on behalf of S-Corporations is steadily increasing. However, an IRS watchdog organization has recently released...
In addition to the honor and accomplishment of earning an Olympic medal, US athletes also earn an income tax bill. While it's widely accepted that income earned is subject to federal tax, it's not always clear, exactly, what is considered income. Internal Revenue Code...
Paying taxes will always remain as one of the few absolutes in society. Filing taxes either for personal or business incomes can be daunting sometimes, and California residents may benefit from having professional assistance. This may be even more helpful as the IRS...
July 11, 2012, the California State Franchise Tax Board (FTB) announced that it would implement an automated dialer system to make outbound telephone calls to California taxpayers in order to further enhance their collection efforts; which include, but are not limited...
On Monday, July 16, 2012, The Treasury Inspector General for Tax Administration (TIGTA) released Fiscal Year 2012 Review of Compliance with Legal Guidelines When Conducting Seizures of Taxpayers' Property (2012-30-072):The TIGTA report presents the results of their...
Filing taxes and handling tax implications often present particular challenges to small business owners. These challenges can be exacerbated by the threat of a looming audit. In California and throughout the United States, some industries are particularly subject to...
Even the IRS is frustrated...Nina Olson, the National Tax Payer Advocate, is urging Congress to act sooner rather than later to resolve the many tax laws that either expired at the end of 2011 or are scheduled to expire throughout 2012. In her report dated June 30,...
Our readers in California will be interested to learn that the IRS recently took steps to separate hard-working ex-patriots who are behind on their taxes from those individuals and companies who may be seeking to hide money in foreign accounts. Previously, the...
The Internal Revenue Service's (IRS) third iteration of the Offshore Voluntary Disclosure Program continues to march through 2012 and indefinitely into the future. The IRS is reporting that at this point approximately 34,500 taxpayers have come forward and revealed...
The Appeals Court for the Federal Circuit affirmed the IRS's 2008 termination of Revenue Agent, Anthony Agbaniyaka. While employed at the IRS, Mr. Agbaniyaka received excellent performance evaluations, and several promotions. He also obtained a Master's Degree in...
