By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FATCA on Monday, June 9, 2014. On July 1 the IRS will gain access to information from foreign nations, banks, and institutions that previously has been kept secret (or at least out of the reach of the IRS)....
What is an IRS “Offer in Compromise” and Why Do I Need a Tax Attorney to Submit One?
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Back Taxes or Tax Debt on Tuesday, October 14, 2014. An "Offer in Compromise" is a basically a proposal to the IRS to resolve a tax debt for less than the full amount due. Some taxpayers feel comfortable...
The Internal Revenue Service Complies With Its Own Laws, Sometimes
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Back Taxes or Tax Debt on Wednesday, October 8, 2014. "Wherever we can, we follow the law." This is the response that IRS Commissioner John Koskinen recently gave when he was questioned by Congress regarding whether the IRS...
Audit finds discrepancies in IRS collecting efforts
On behalf of Janathan L. Allen, APC posted in IRS on Friday, October 3, 2014. An interesting bit of news has come out about the Internal Revenue Service (IRS). According to an audit of the agency and the tax debt they tried to collect from 2012, there was nearly $7...
Are Inherited IRA’s Considered Retirement Funds So They Are Exempt From Bankruptcy?
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Estates on Thursday, October 2, 2014. The estate planning process can be overwhelming. Estate planning is crucial to prevent problems, protect your assets, and plan for the future. This process can be more all the more complicated when...
Anti-Obamacare Movie Producer Struck With Internal Revenue Service Audit
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Wednesday, October 29, 2014. The Internal Revenue Service conducts audits of taxpayers' finances for a variety reasons. A taxpayer may be randomly selected for an audit through a statistical formula. The IRS also conducts audits of...
Why Does Every Homeowner in San Diego Need a Trust?
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Estates on Thursday, September 25, 2014. If you own a home in San Diego you need to give serious consideration to a trust, regardless of the equity in your house. The reason is simple: without a trust your...
What Should I Do If I Receive an Audit Letter From the IRS?
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Audits on Wednesday, September 3, 2014. What should you do if you are notified of an IRS audit? Your first instinct - deep concern - is well founded. The IRS is about to inquire into your personal or...
What is an “Asset Purchase” and When is This an Effective Acquisition Option?
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Mergers & Acquisitions on Monday, September 15, 2014. An "Asset Purchase" is a tool that allows a buyer to know exactly which assets and liabilities are being acquired from the seller. This is much different from a "stock...