California Tax Attorney: Here is a quick summary of a recent US TAX COURT case against the Internal Revenue Service to challenge the taxpayer’s right to deduct donations to a Catholic Church. The case involves a married couple who got audited by the Internal Revenue Service concerning donations they deducted…
Los Angeles Tax Attorney: California Income Tax – Franchise Tax Board FTB released its annual list of top 250 California taxayers who haven’t paid their taxes. Tax Debt – Top 250 Honor Roll List Highest Unpaid Tax Debt: $13,120,479 Lowest Unpaid Tax Debt: $ 290,964 Notable Celebrity: Pamela Anderson (Website:http://pamelaanderson.com/)…
Los Angeles Tax Attorney: Here is a quick summary of a recent US TAX COURT case against the Internal Revenue Service to challenge the taxpayer’s right to deduct tax losses from a “S” Corporation. The tax case involves an attorney who claimed a loss from his incorporated law practice on…
Los Angeles Tax Attorney: Internal Revenue Service IRS released information on its tax audit and tax collection activity results from 2009. Tax Audit, Tax Collection and Tax Audit Category base on income can be found here . Interesting points to note: 1) IRS Collected through tax levies and tax liens…
California Tax Attorney: Internal Revenue Service IRS catches another tax evader. Another
California Tax Attorney: Last year Democrats Proposed 30% Tax on Foreign Banks that refuse to disclose US Taxpayers as part of continuing efforts by the IRS to quash offshore asset protection and tax evasion strategies conjured up by various financial planners. US Taxpayers with offshore or foreign bank account are…
Los Angeles Tax Attorney: Here is a quick summary of a recent US TAX COURT case against the Internal Revenue Service . The ruling on this case may apply to other documents filed with the tax court or the IRS including late filed FBAR Voluntary Disclosure Program. Tax Court Petitioners…
Foreign Bank Account Tax Amnesty Attorney: Failure to file FBAR can have devastating consequences to a taxpayer. We attached a summary of potential penalties and criminal tax exposure related to an unfiled FBAR- FBAR Tax Penalty Summary. We’ve been receiving calls from stressed taxpayers regarding their unfiled FBAR- IRS Form…
FBAR Tax Attorney: Internal Revenue Service IRS issued a statement this week stating that they will be pursuing foreign bank accounts held by US taxpayers in other countries including South Korea, Hong Kong, Singapore and several European countries. US Senate also introduced a new tax and banking legislation which…
FBAR- IRS Voluntary Disclosure Attorneys Even if the taxpayer has missed the October 15, 2009, deadline, IRS voluntary disclosure program may still be available to those with delinquent FBAR, unreported income or undisclosed foreign bank accounts. However, taxpayers need to proceed with caution if they are considering filing their voluntary…