By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FATCA on Monday, June 16, 2014. Recently, Swiss banking institutions have been sending letters to US citizens and Californians who have deposits or assets in Swiss bank accounts, urging them to immediately apply for the IRS' OVDP program....
OVDP Can Be Closed at Any Time After July 1 of This Year
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FATCA on Wednesday, June 4, 2014. I am very concerned about the future of the Offshore Voluntary Disclosure Program or OVDP. This program provides an option for US citizens, US expatriates and foreign nationals living and working in...
It’s Not Just the Swiss, the IRS Has Information From Around the World
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Friday, June 20, 2014. A lot of ink and press coverage has been given to recent developments between the US Department of Justice and Swiss financial institutions. There are many foreign nations who host financial or...
Proposal could allow collection agencies to take over for IRS
On behalf of Janathan L. Allen, APC posted in Back Taxes or Tax Debt on Friday, May 23, 2014. A new proposal in front of Congress could cause a lot of headaches for people who have tax debt. Actually, scratch that -- this could cause a lot of headaches for...
Justice pressured to get more US taxpayer info from Credit Suisse
On behalf of Janathan L. Allen, APC posted in Tax Controversy on Friday, March 7, 2014. sCredit Suisse Group AG is among 14 Swiss banks the Department of Justice is investigating for allegedly helping U.S. taxpayers evade taxes on assets held in foreign accounts. As you may know, the U.S....
IRS Audit Shows the IRS itself Failed to Discipline Tax Cheats
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Tuesday, May 12, 2015. A ten year audit of the IRS and its procedures clearly shows that the IRS itself fails to discipline 3 out of 5 tax cheats in its own ranks. The US Treasury's...
India’s Incentive to Bring Currency Into the Country Can Create Havoc with the US IRS
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Monday, April 28, 2014. India is presently encouraging its citizens abroad to open special bank accounts in India to transfer US currency into the country. In and of itself, this isn't the challenge. It's the resulting...
You could be risking penalties or even criminal charges by using the wrong tax professional
On behalf of Janathan L. Allen, APC posted in Management Advisory Services on Monday, September 2, 2013. Tax season is fast approaching. Tax deadlines for corporations with calendar year ends on extension is September 16, 2013 and the final extension deadline for individuals is October 15th, 2013. Before you know...
Tax Law Changes for 2013
On behalf of Janathan L. Allen, APC posted in Management Advisory Services on Saturday, January 26, 2013. One of most challenging aspects of San Diego corporate tax planning is keeping track of all the nuances and constant changes in the tax codes. With every New Year comes new tax laws,...