IRS FBAR audits are heating up as offshore banking and taxpayer information pours into the IRS from offshore banks, financial institutions, investment houses and foreign sovereign tax agencies. The IRS formed agreements with most of the nations around the world as well as hundreds of thousands of banks, investment houses...
Blog
Changes to Partnerships and LLCs Required by IRS
There are substantial changes to partnerships and LLCs required by the IRS as part of the Bipartisan Budget Act (BBA) which are scheduled to take effect January 1, 2018. The US Treasury Department issued new rules in January of this year which will substantially impact tax matters for partnerships as...
Many Working in the US on an H1-B Visa Need to Understand IRS PFIC Taxation
Many professionals and scientists working in the US on an H1-B visa need to understand IRS PFIC taxation and the implications of continuing many offshore investments. What are PFICs and why would high income professionals in the US on an H1-B visa need to understand IRS PFIC taxation rules? The challenge...
California Waters Edge Election Provides Needed Protections
The California waters edge election provides needed protections for national and international companies with business in the State of California. This important tax strategy is currently threatened by new legislation known as Senate Bill 567. The bill entitled the "Millionaire Tax Accountability Act" was recently proposed to close several "popular...
Integrated Legal and Contract Work Supports Tax and Other Important Business Services
Our integrated legal and contract work supports tax, accounting and other important business services Allen Barron provides to its clients. Legal services include everything from business contracts to employment law compliance, from intellectual property to business succession planning. Legal services are required at every step of The Business Life Cycle from business formation...
New Partnership IRS Audit Rules Will Change the Game
Is your LLC or partnership ready? The new partnership IRS audit rules will change the game for many LLCs and partnerships. LLCs and partnerships will be forced to handle IRS audits differently in the future, and Allen Barron is prepared to help you to weather the coming storm. The new...
Avoid the DOL and IRS Audit Focus on Independent Contractors
How can you avoid the US Department of Labor or DOL and IRS audit focus on independent contractors and 1099 workers? What do you need to know about the new definitions of an independent contractor based upon the so-called "Darden Factors" and the "Economic Realities" standards? Why should you be concerned...
Integrated Services Provide Insight Into Corporate Tax Reform
Integrated services provide insight into corporate tax reform as Allen Barron helps our clients to analyze and implement strategy based upon tax, legal and business issues and opportunities. No one knows for sure what reforms are coming from Capital Hill. The consensus hints at a "once-in-a-generation" overhaul and reduction in corporate...
What is Important to Know about an IRS Audit in San Diego
What is important to know about an IRS audit in San Diego and how can Allen Barron improve your outcome and save you money? Most US taxpayers are surprised to learn it is up to you to prove you have followed US tax code and tax filing laws. The burden...