When can the IRS take your passport for unpaid taxes, and does that prevent you from international travel? Yes, the IRS has the power to take many actions to collect unpaid US taxes including the ability to take away your passport. At present, you must owe the IRS $50,000 or...
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Willful or Non-Willful Attempt to Avoid US Taxes?
There continues to be confusion regarding what constitutes a willful or non-willful attempt to avoid US taxes as it relates to offshore bank accounts, investments, assets and income. The IRS has purposefully failed to clarify this issue over the past 7 years. This is the first piece of evidence a...
The Importance of an Operating Agreement for an LLC
Many LLCs in California are unfortunately started with downloaded forms off of legal websites. People just want to get their business up and running for the least amount possible. However, the second that your business starts to make money you have two really important problems: California law provides preference to...
Non-Resident Indians or NRIs Face IRS Offshore Scrutiny
Citizens and former residents of India face genuine tax issues while they live and work in the United States. Many Non-Resident Indians or NRIs face IRS offshore scrutiny and FBAR compliance issues. Many have come to the US to work, and are unaware of tax obligations that have developed as...
Has the IRS Decided to Stop Accepting Streamlined Applications for FBAR Compliance?
Has the IRS decided to shut down the application process for the Streamlined Domestic Offshore Procedures under FBAR? Streamlined applications for FBAR compliance used to be submitted to the IRS via facsimile. The IRS has recently stopped access to fax submission of streamlined applications, and this may be a sign...
Selling A Business in San Diego Requires Business, Tax, Financial and Legal Expertise
Selling a business in San Diego requires a diverse cross-section of professional services including business expertise, tax advice, financial planning and legal expertise. Allen Barron provides this broad scope of services in a single-source vendor. What is the value of a single-source professional partner when selling your business? The complexity...
Business Contract Review Services
Should you sign the contract in front of you? How intense is the pressure upon you to sign? Here's a pro tip: The higher the pressure to sign it, the more likely it is you need the experienced contract attorneys at Allen Barron to review it. Business contracts form the...
Can Foreign Nationals in the US Become FBAR Compliant with a Streamlined Application?
The experienced international tax attorneys at Allen Barron will work with you to develop the most effective strategy to disclose offshore bank accounts, investments, assets and income to the IRS. My name is Janathan Allen, and many foreign nationals in the US become FBAR compliant with my assistance. They are unaware...
Are Foreign Nationals US Residents for IRS Tax Purposes?
Many foreign nationals come to the US each year, often under an H1-B visa, in order to live and work. It is important for you to understand US tax laws as a resident of the United States - even if you have not yet received a green card or other permanent...