There is important news from the IRS. Effective immediately, the IRS will accept digital signatures and communicate electronically. You will be able to send a limited range of documents to and receive documents from the IRS. Here is the specific statement released yesterday: EFFECTIVE IMMEDIATELY: IRS to Accept Digital Signatures...
Blog
S Corporation Owners Should Understand IRS Strategies for Compensation Audits
One of the primary targets for IRS audits is S Corporation compensation. S Corporation owners should understand IRS strategies for compensation audits and work with Allen Barron to reduce these risks while minimizing tax and maximizing income opportunities. One of the most contentious issues is "reasonable compensation." The IRS guidelines...
The Value of Integrated Services to an International Business Strategy
What is the value of integrated services to an international business strategy? Allen Barron provides integrated legal, tax, business advisory and accounting services to local, regional, national and international businesses. The integration of these services reduces the cost paid to separate vendors while providing a higher-level broader perspective to problem...
Overseas Bank Accounts Could Still Cost You $100,000 or More
If you are a US taxpayer, including foreign nationals who live and work in the United States you need to take notice. Overseas bank accounts could cost still you $100,000 or more in penalties and interest if the aggregate balance of your offshore accounts exceeds $10,000 at any point in...
Allen Barron is Your Single Source for Any California IRS or International Tax Issue
Allen Barron is your single source for any California IRS or international tax issue. The integration of tax, legal services, accounting and business advisory services in a single source ensures you receive the right answer to any question or challenge. Our integrated perspective will ensure you are able to integrate...
An IRS Tax Audit Opens the Door for California Tax Agencies
Did you know that an IRS tax audit opens the door for California tax agencies? If you receive a notification from the agency regarding an IRS audit, you have several immediate concerns. Your tax attorney and accounting professional at Allen Barron will provide extensive guidance on what to expect from...
Cryptocurrency Can Lead to an Increased IRS Audit Risk
Did you know cryptocurrency can lead to an increased IRS audit risk? The IRS has taken a hard look at cryptocurrencies such as Bitcoin and now demands to know about any transactions you've conducted. The failure to report cryptocurrency holdings and transactions substantially increases your risk of an IRS audit....
Europeans Blacklist the Cayman Islands and 3 Others as Tax Havens
International tax pressures continue to mount as Europeans blacklist the Cayman Islands and 3 others as tax havens. The finance ministers of the European Union (EU) have identified The Cayman Islands (a British overseas territory) as well as the Seychelles, Palau and Panama. According to the EU these jurisdictions have...
Costly Facts About IRS PFIC Rules US Taxpayers Should Know
What are some other unfortunate and costly facts you must know about IRS PFIC rules and your investments? There has been a growing issue with Passive Foreign Investment Company or PFIC designations by the IRS. US taxpayers are consistently surprised to learn that their investment qualifies under IRS PFIC rules....