The nature and practice of California tax enforcement has undergone a relatively unobserved but profound transformation over the last twelve months. While many taxpayers still envision an audit as a face-to-face meeting with a state official, the reality is that the Franchise Tax Board (FTB) has largely moved toward a...
What do U.S. Expatriates Need to Know About Taxes: IRS Publication 54
U.S. expatriates should read IRS Publication 54 - Tax Guide for U.S. Citizens and Resident Aliens Abroad. What do U.S. expatriates need to know about taxes? IRS Publication 54: Tax Guide for U.S. Citizens and Resident Aliens Abroad is an important guide that helps U.S. taxpayers understand not only their...
Offshore and IRS Tax Lawyer to Protect Your Investments and Interests
Navigating the complexities of the federal oversight, investigations, reporting requirements and challenges of the IRS requires the specialized guidance of an offshore and IRS tax lawyer who understands that tax issues are rarely isolated. Federal tax law and associated issues are intertwined with international treaties, corporate governance, a different accounting...
The IRS Knows About Your Offshore Activities
The era of absolute financial privacy in offshore banking, investment, and digital currency has effectively come to an end. For decades, many taxpayers operated under the assumption that geographical distance provided a natural shield against the awareness and abilities of the IRS. However, the modern regulatory landscape is built upon...
Can Establishing a Family Trust in California Save You Money?
The question of whether establishing or reviewing a family trust can save you money in California (and in most states) is most often met with an internal and understated "yes, probably,” followed by a deep breath, and several reasons to put it off. In reality, an effective estate plan is...
How does the Automatic Extension of Time to File Your Tax Return with the IRS Work?
Should you request the automatic extension of time to file your tax return with the IRS? What is the specific process to obtain the extension, and what does a U.S. taxpayer need to know about this important right? The decision to file an extension is often mistaken for a lack...
Should You Amend An Error in a Previous IRS Tax Filing or Hope They Don’t Notice?
Should you amend an error in a previous IRS tax filing or just let it go and hope the agency doesn't notice? We are a few weeks from the annual deadline for most U.S. taxpayers to file tax returns, and it may surprise you to learn how often U.S. taxpayers...
San Diego FBAR and IRS Tax Attorney Helps Foreign Nationals Comply
Janathan Allen, our San Diego FBAR and IRS tax attorney, helps foreign nationals comply with FinCEN and the IRS, and fulfill offshore financial disclosures and tax reporting requirements. The penalties for U.S. taxpayers who fail to fully disclose and report offshore income and assets, including resident foreign nationals, are quite high....
Beware of the “Hidden Tax Trap”
The Hidden Tax Trap: How California Non-Conformity with the IRS Impacts Business Tax Planning What is the "Hidden Tax Trap" and why should you be aware of non-conformity between California tax laws, and those at the federal level? Business owners tend to make tax-related decisions with a presumption that a...