The University of Rochester has gained unexpected notoriety recently as one of it's professors faces sentencing in a criminal tax evasion scheme. The University professor pays a $100 Million FBAR penalty to the IRS for failure to disclose Swiss accounts while awaiting his sentence in February that may contain additional...
California has the Second Highest Rate of IRS Audits
Recent audit figures released by the IRS show California has the second highest rate of IRS audits as a percentage of the population. Why does California rank so high on this list? The answer is as simple as the number of high income tax filers. Notorious bank robber Willie Sutton...
IRS Targets Bitcoin Transactions in Federal Case Here in California
There is an interesting case which has been filed in a California Federal Court. Concerns are mounting as the IRS targets bitcoin transactions through Coinbase, a bitcoin exchange, through the strategy of a "John Doe Summons." The IRS has used this strategy in the past in an attempt to force...
Hold On San Diego Employers – Texas Judge has Issued a Hold on New Overtime Laws
Just as San Diego employers were preparing to implement the new Department of Labor (DOL) rules regarding the Fair Labor Standards Act and overtime exemption and income thresholds a significant change has forced an immediate hold for many small and mid-sized San Diego businesses. A Texas Judge has issued a...
Challenges with an IRS Audit Involving Transfer Pricing
IRS revenue agents and auditors create many unnecessary challenges for multinational businesses who utilize internal transfers to gain a tax advantage. This presents major obstacles during an IRS audit involving transfer pricing and other international tax related issues. The experienced international tax and business attorneys at Allen Barron, supported by...
California FTB or IRS Levy or Garnishment in San Diego
Allen Barron is uniquely positioned to help those who face a California FTB or IRS levy or garnishment in San Diego or southern California. Our IRS tax attorneys have specific strategies to deal with California and IRS tax collection efforts. If you owe the IRS more than $25,000 it is...
Why Shouldn’t You Try to Handle an IRS Audit Yourself and Call an Attorney Later if Things Don’t Go Well?
Have you received notification of an IRS audit? Will it be a field audit or office audit? Why shouldn't you try to handle an IRS audit yourself and call an attorney later if things don't go well? The simple answer is it will be too late to do anything about...
Would You Prefer to Write a Large Check during an IRS Audit …
Or write a much smaller check that will reduce the cost of the audit? If you have been contacted by the IRS for a field audit or office audit it is important to understand they have already developed a strategy for your audit. They have a revenue target associated with...
If You are an Executor in San Diego You Need an Attorney
You were honored when your close friend or family member asked you serve as the executor of their estate. You did not realize the amount of the work associated with the task. You also didn't realize you were personally financially liable for your actions as an executor. If you are...