By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Saturday, May 24, 2014. In February of this year, the US Government Accounting Offices (GAO) released a report that showed a staggering $2 Trillion dollars in hidden Swiss bank and investment accounts, and that 24% of...
The IRS is Seizing Tax Refunds of the Children of Many Social Security Recipients
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Tax Controversy on Thursday, April 24, 2014. How can the IRS legally claim and seize my refund based on some social security issue with my parent(s)? According to a recent Washington Post article, the IRS has seized hundreds...
Tax rates change from state to state, and from law to law
On behalf of Janathan L. Allen, APC posted in Tax Controversy on Tuesday, April 22, 2014. About a month ago, we wrote a blog post about how different your tax rate would be if you were to live in different areas of the country. There are drastic shifts depending on...
Tax Day is also Extension Day for those who need some more time
On behalf of Janathan L. Allen, APC posted in Delinquency on Thursday, April 10, 2014. Remember when you got your W-2s back in January, and you thought to yourself "this is going to be the year that I get my taxes done early!" Then a few days passed, followed by...
More than $2.8 million paid by IRS to workers owing back taxes
On behalf of Janathan L. Allen, APC posted in IRS on Wednesday, April 30, 2014. A recent report from the Treasury inspector general for tax administration found that from Oct. 2010 to Dec. 2012, more than $2.8 million in bonuses was paid by the Internal Revenue Service to employees who either...
Man uses old-fashioned selfies just in case IRS come calling
On behalf of Janathan L. Allen, APC posted in Audits on Thursday, April 3, 2014. It's not often you get a story about taxes that is actually fun. Thankfully, one man's thorough documentation of his living and spending habits has provided us with just such a story. The man in...
June 30, 2014 is the MUST FILE date for your FBAR or Foreign Bank Account Report
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Wednesday, April 30, 2014. The IRS Foreign Bank Account Report or FBAR must be submitted no later than June 30, 2014 or you face substantial additional taxes, penalties, interest and in some cases criminal tax exposure....
IRS audits will be even more of a rarity this year
On behalf of Janathan L. Allen, APC posted in Audits on Wednesday, April 16, 2014. Tax Day has come and gone. All of those feelings of dread because you may have procrastinated doing your taxes how now turned into different feelings of dread -- the fear of being audited. While...
FATCA Guidelines Make June 30 one of the Most Important Dates on Your Financial Calendar
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Tuesday, April 29, 2014. The Foreign Account Tax Compliance Act or FATCA and recent agreements between the IRS and many foreign banking and taxation authorities has created an important date for this year's financial calendar: June...