The ongoing IRS battle with bitcoin gets political as GOP legislators jumped into the fray today. You may remember a piece we did earlier this year regarding the IRS going after bitcoin exchange Coinbase. GOP legislators sent a strongly worded letter to the agency asking whether the "IRS has a...
Consider the Tax Ramifications of Your San Diego Divorce
While many people are obviously concerned about core issues such as child custody and parenting time and support payments, you should consider the tax ramifications of your San Diego divorce before signing a settlement agreement. Allen Barron's seasoned tax attorneys and accounting professionals work with your family law or divorce attorney...
San Diego Executors and Trustees are Personally Liable
San Diego executors and trustees are personally liable for their actions during the administration of an estate or trust. When you are asked by a friend or family member to serve as the executor of their will or as a trustee it is perhaps one of the greatest compliments one...
The IRS Wrongfully Seized Millions from Legal Business
The Treasury Inspector General for Tax Administration (TIGTA) has found the Criminal Investigation Unit of the IRS wrongfully seized millions from legal business entities and individuals. The investigation was opened after several complaints were filed in 2014 regarding IRS seizures of property or bank levies without evidence of a crime....
IRS Audits Focused Upon OVDP Declines and Withdrawls
A new IRS Large Business & International (LB&I) campaign targets US taxpayers for IRS audits focused upon OVDP declines and withdrawls from the FBAR related program. Once the IRS implemented FATCA based regulations and the associated Foreign Bank Account Reporting (FBAR) requirements US taxpayers were required to disclose all offshore...
Increased IRS Scrutiny of Cross-Border Transfer Pricing Issues
San Diego businesses face increased IRS scrutiny of cross-border transfer pricing issues thanks to a new IRS LB&I audit campaign. The IRS has mobilized several specialists with extensive international business expertise into a team under their Large Business and International (LB&I) audit division. This IRS audit team is targeting small,...
IRS Audit Campaigns
The LB&I IRS audit campaigns are a targeted combination of resources and expertise focused upon 13 separate areas. The IRS Large Business & International Group (LB&I) has established the following teams: IRC 48C Energy Credit Campaign - This campaign ensures that only those taxpayers whose advanced energy projects were approved...
How Should You Handle a Mistake on Your IRS Tax Return
What if you've discovered errors or omissions on your IRS tax return? How should you handle a mistake on your IRS tax return and subsequent communications from the IRS? It is not uncommon for the IRS to catch a simple math error on a US tax return. In many cases,...
Jan Allen to Speak on IRS FBAR and Willfulness
On October 11, 2017 from noon to 2:00 pm pacific time, Jan Allen will speak on IRS FBAR and willfulness during a live webcast entitled: "Willfulness and the IRS Disclosure Programs: Are You Compliant?" The program will answer the questions of US taxpayers and foreign nationals who live and work...