The IRS launches new campaigns to focus vertical market expertise on tax revenue generation and compliance. Each "campaign" aligns internal IRS expertise on specific issues with the goal of "focused examination" (read: audit) on targeted matters. What are the 13 business related IRS audit campaigns and how will they affect...
GE Outsourcing Tax and Some Accounting A Good Model According to WSJ
An article this week in the Wall Street Journal noted General Electric (GE) had executed a strategy for outsourcing tax and some accounting services that other corporations are sure to follow. GE has decided to implement a "tax outsourcing" plan that will move internal employees to an external tax and...
W2 and 1099 – Its Tax Preparation Time Again
We all should have received our W2 and 1099 statements, it's tax preparation time again in San Diego. The tax preparation, accounting and tax attorneys at Allen Barron are prepared to help you to get through tax season. We specialize in helping those with more substantial returns, and those with...
Updates on Offshore Investments and IRS FBAR Reporting Requirements
The world is still unpacking the impact of FATCA and the IRS' intent to track offshore bank accounts, investments and corporations. The result is continuing pressure on offshore investments and IRS FBAR reporting requirements including PFIC tax calculations and the continuing expansion of 50% penalties on specific institutions identified by...
New International Corporate Tax Discussions Unfold in US Congress
While new international corporate tax discussions unfold in the US Congress, American businesses brace for a tax scheme that could change some of the fundamentals of international business and associated Effective Tax Rates or ETRs. The majority party in Congress favors a "destination-based cash flow tax." Are we really moving...
New IRS 1099 Forms and How to Handle Them
While 1099 forms may be old news for most of us, the new IRS 1099 forms are bringing new questions to an old subject. Let's review. If any person does work for a business, company, or for you personally and you pay them more than $600 in a calendar year...
Israeli High Court Rules US Citizens in Israel Must Comply with FBAR
The Israel Supreme Court ruled that US citizens in Israel must comply with FBAR and all IRS reporting requirements and the consequences of FATCA. Israeli banks, investment houses and financial institutions have already begun to report the detailed personal and financial balance and transaction information regarding the "beneficial ownership interest"...
Advisory Services for the Life of your San Diego Business
Allen Barron provides advisory services for the life of your San Diego business from start-up, through growth and acquisition through the ultimate sale or disposition of your company. Our seasoned and experienced CEO and CFO consultants have international experience running small, mid-size business and international publicly traded conglomerates. If you...
New Treasury Nominee Advocates Beefing Up the IRS
The new nominee for Treasury Secretary, Steven Mnunchin, advocates beefing up the IRS not stripping it down as most republicans advocate. Why? What would possess a Trump nominee to advocate on behalf of the IRS? Money. Pure and simple. The programs and undertakings of the US Government will require greater...