Many taxpayers had hoped that telling the IRS "I didn't know" and submitting a streamlined disclosure application would get them through FBAR disclosures quickly and inexpensively. After all, the streamlined options reduces penalties down to 5% is the IRS accepts the streamlined application when compared to the OVDP or the...
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Why Put Off Estate Planning and Establishing a Trust?
Why do so many San Diegans put off estate planning and establishing a trust for their home and assets? Quite simply, in my experience its as simple as they don't want to face the reality of their own mortality. Unfortunately, the failure to undertake estate planning leaves a complicated and...
How Successful Will Your New San Diego Company Be? Look at Your Business Contracts
How successful will your new San Diego company be? The clearest forecast of any new business is the quality of their business contracts and the clarity they bring to all aspects of running a company such as: Employment Agreements Corporate Policies and Procedures Contracts with Suppliers and Vendors Sales Agreements...
San Diego OVDP Attorney – Advantages of the IRS OVDP
Ask San Diego OVDP attorney Janathan Allen about the advantages of the IRS OVDP when compared with the streamlined option and not coming into compliance at all, she's likely to answer with a single word: "RISK!" The IRS OVDP option is the only path a US taxpayer can use...
Why does the IRS OVDP Reduce Risk for US Taxpayers in Offshore FBAR Disclosures?
Why is the IRS OVDP or Offshore Voluntary Disclosure Program the safest choice for US taxpayers coming into compliance with IRS FBAR disclosures? How does the OVDP reduce risk for US citizens and foreign resident nationals who are required to file US tax returns? The key issue is the IRS'...
San Diego OVDP Attorney Advises Foreign Nationals who Reside in US
At Allen Barron, we support many leading engineering, high-tech companies and other businesses who attract and employ foreign nationals based upon their unique education, expertise and skill sets. For many of these clients, it is a complete surprise that foreign nationals who are legally working in the US are still...
Estate Planning Reduces Taxes and Expenses and Preserves Assets
Have you been considering a will, college funding, protecting your family and answering questions such as who will watch over the children if both parents pass in the same accident? Do you own a home in the San Diego area? If so, you should contact Allen Barron to learn how estate...
How to Handle an FTB or IRS Garnishment or Levy
If you receive a notice regarding an FTB or IRS garnishment or levy you have a limited time to take action that will significantly affect your financial future. The notice of a levy indicates the IRS or FTB is about to seize all of the money in one or more of...
Medtronic Beats IRS in Complex Tax Matter Involving Transfer Pricing
Medtronic PLC, a medical device manufacturer who used to have operations in Puerto Rico, has defeated the IRS in US Tax Court, resolving a $1.4 billion dispute. The key issue in the case centered on transfer pricing - transactions between different divisions or companies owned by the same corporation or...