Blog Profile / California Tax Attorney Blog
| URL : | http://www.californiataxattorneyblog.com/ | |
|---|---|---|
| Filed Under: | Business & Finance / Taxes | |
| Posts on Regator: | 88 | |
| Posts / Week: | 0.8 | |
| Archived Since: | March 8, 2011 | |
Blog Post Archive
Gifts Made By Personal Check
A check written in 2012 that does not clear until 2013 is at risk of being a 2013 gift, not a 2012 gift, since the donor could have stopped payment in 2013 before it cleared. The issue with using checks to make gifts is that until the...Show More Summary
Tax Humor
A tax loophole is "something that benefits the other guy. If it benefits you, it is tax reform.'' — Russell B. Long, U.S. Senator “People who complain about taxes can be divided into two classes: men and women.” — Unknown "Like mothers,...Show More Summary
How Good Is Your Attorney?
Martindale-Hubbell Peer Review Ratings just came out with it's rating of me. I have been honored with an "AV Preeminent" rating which is a significant rating accomplishment- a testament to the fact that a lawyer's peers rank him or her at the highest level of professional excellence. Show More Summary
Abusive Tax Scheme Investigations
The following examples of abusive tax scheme investigations are written from public record documents on file in the court records in the judicial district in which the cases were prosecuted. Californian Sentenced for Evading More Than $150,000 in Taxes On February 6, 2012, in Los Angeles, Calif., William H. Show More Summary
Same-Sex Couples
The following questions and answers provide information to same-sex domestic partners, same-sex individuals in civil unions and same-sex couples whose marriage is recognized by state law. Publication 555, Community Property, provides...Show More Summary
Preparing Your Tax Return - Picking The Right Preparer
You are legally responsible for what’s on their tax return even if it is prepared by someone else. So, it is important to choose carefully when hiring an individual or firm to prepare your return. Choose your preparer wisely. As a reminder,...Show More Summary
How To Get A Copy Of Your Tax Return From The IRS
How do I request a copy of my tax return for last year? It is easy to get a copy of an old tax return. If you need an exact copy of a previously filed and processed return and all attachments (including Form W-2 (PDF)), you must complete Form 4506 (PDF), Request for Copy of Tax Return, and mail it to the IRS. Show More Summary
Tax Statistics
The IRS "Data Book" for the most recent period ending September 30, 2011 is available online at this link. In that Book is information about the following: List of Statistical Tables Statistical Tables Data Sources, by Subject Area and...Show More Summary
Pennies On The Dollar
The California Franchise Tax Board says that if you qualify, your delinquent taxes, penalties and interest can be "compromised" so that your payment of an agreed-upon portion will be treated as if you paid the full amount. Here's what...Show More Summary
Business Entities
When beginning a business in California, you must decide what form of business structure to create. For federal tax reporting purposes, your form of business determines which income tax return form you have to file with the IRS. The most common forms of business are the sole proprietorship, partnership, corporation, and S corporation. Show More Summary
Extension Of Time For Payment Of Estate Tax Where Estate Consists Largely Of Interest In Closely Held Business
Using a common estate planning device in California, Anna Smith created a pourover will which provided that all her property not already in her living trust would be transferred to her living trust to be distributed under the terms of her trust. Show More Summary
How To Stop The IRS
I know that there is a lot of mediocre advice in California about how to stop the IRS collection process. So that’s why I am here. To provide real-world information based upon my years of experience. How to stop the IRS from filing a...Show More Summary
Circular 230 To Promote Ethical Practice By Los Angeles Tax Professionals
The IRS has an Office of Professional Responsibility (OPR) said "To be the standard-bearer for integrity in tax practice" and whose mission is to “Interpret and apply the standards of practice for tax professionals in a fair and equitable manner”. Show More Summary
Record Keeping For Individuals
Now that tax season is over, what should you do? You would have lots of paper documents – bank and credit card statements, cancelled checks, check stub, invoices, receipts, dividend and bonus statements, payment slips, tax forms, mileage...Show More Summary
The Federal Tax Gap
The federal tax gap imposes an unfair burden on many taxpayers, and the Department of the Treasury and the IRS are committed to narrowing the gap between what is owed and what is paid. The tax gap is defined as the aggregate amount of true tax liability imposed by law for a given tax year that is not paid voluntarily and timely. Show More Summary
New Flexible Offer-in-Compromise Terms Help More Struggling Taxpayers
The IRS announced the other day that it is offering more flexible terms to its Offer in Compromise (OIC) program that will enable some of the most financially distressed taxpayers to clear up their tax problems and in many cases more quickly than in the past. Show More Summary
Early Withdrawal Penalty (The "Additional Tax") For Education Expenses Applies To Withdrawals From Rollover IRA
Withdrawals to pay education expenses from your employer's retirement plan before you turn age 59 1/2 are NOT subject to the 10% early withdrawal penalty. Withdrawals for the same reason before age 59 1/2 ARE subject to the 10% additional...Show More Summary
Internal Revenue Service Guidance
Here are seven of the most common forms of guidance in the form of documents and publications that provide assistance to charitable groups, business firms and taxpayers. Notice A notice is a public pronouncement that may contain guidance that involves substantive interpretations of the Internal Revenue Code or other provisions of the law. Show More Summary
Backlog Of Offers In Compromise
The IRS faces a 28% increase in the number of requests for Offers In Compromise. The requests by Californians and others behind in their tax payments to pay "pennies on the dollar" has reached almost 60,000 for 2011 when the data was last analyzed. Why are Offers up? In part the struggling U.S. Show More Summary
Power of Attorney
When Is a Power of Attorney Not Required? A power of attorney is not required in some situations when dealing with the IRS. The following situations do not require a power of attorney. Representing a taxpayer through a nonwritten consent. Allowing...Show More Summary