By Janathan L. Allen, APC of Janathan L. Allen, APC posted in California Tax on Thursday, October 15, 2015. Governor Jerry Brown has signed AB 154, which brings sections of California's tax code into conformity with federal IRS statutes. The bill brings the standard of conformity forward from January 1,...
Like it or not, divorce and taxes go hand in hand
On behalf of Janathan L. Allen, APC posted in Back Taxes or Tax Debt on Wednesday, October 14, 2015. Some people don't dive too deep into their spouse's financial history. In fact, some people may not even have a full grasp on the financial situation of their marriage. That's just...
California Rebates and Credits May Create IRS Tax Liability
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in California Tax on Tuesday, October 13, 2015. You must be cautious when analyzing the financial impact of California or local agency "rebate" programs, or incentives. In some cases, these measures can actually translate to additional taxable earnings from the...
IRS Chief John Koskinen Under Increased Pressure
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Audits on Monday, October 12, 2015. IRS Chief John Koskinen continues to experience pressure from many political directions, growing out of IRS audit targeting and the treatment of political groups by the agency over the past several years....
IRS Data Exchange with Foreign Entities Affecting US Expats Overseas
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Friday, October 9, 2015. Recently, the IRS completed an initial run of data exchange with a group of countries under the agreements stemming from the passage and implementation of the Foreign Account Tax Compliance Act or...
California Corporate Subsidies Under Review
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in California Tax on Thursday, October 8, 2015. Recently, a California Senator has asked the Legislature's Joint Legislative Audit Committee to authorize an audit of California corporate subsidies. Senator Ricardo Lara noted concern that the subsidies that target specific...
Don’t deal with tax issues on your own
On behalf of Janathan L. Allen, APC posted in Back Taxes or Tax Debt on Wednesday, October 7, 2015. Sometimes life throws you a curveball. You work diligently and honestly for years and years, and you never have trouble with your tax filing. Until one day the IRS comes calling,...
If You Own Multiple Companies in California You May Be Able to Save Taxes by Combining Your Returns
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in California Tax on Tuesday, October 6, 2015. Many business owners who have multiple companies do not realize that there may be a hidden California tax benefit for them: Combine the Returns of All California Companies Owned and Lower...
IRS Now Actively Exchanging Information with Foreign Countries and Tax Agencies
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Monday, October 5, 2015. The vision that was encompassed in the design and passage of the Foreign Account Tax Compliance Act or FATCA has been formally realized. The IRS recently announced that the swap of data...