By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Monday, December 14, 2015. Why do more than 25% of eligible Americans fail to claim one of the easiest credits offered by the IRS - the earned income tax credit? In a new study published by...
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Highway funding and passport revocation: a connection, please?
On behalf of Janathan L. Allen, APC posted in IRS on Wednesday, December 9, 2015. Many California residents -- in fact, scores of millions of Americans across the country -- regularly scratch their heads over politics as they are played out on Capitol Hill. In fact, much about the country's...
Business Contracts are the Foundation of Your Company
The foundation of business transactions are contracts. Without contracts, business relationships falter, agreements are less than clear, expectations are not met and disputes arise. A sound business manager ensures that the company has effective contracts for every are of the business including: employee relationships employment handbooks, policies and procedures contracts...
Topical focus: IRS and charity-related tax reporting
On behalf of Janathan L. Allen, APC posted in IRS on Wednesday, December 16, 2015 Collectively speaking, Americans are a charitable bunch. Millions of people across the country, and certainly in California, regularly donate time, services and money to nonprofit groups and other organizations that do good in their communities....
IRS FBAR Penalties for Willful and Non-Willful Conduct
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Wednesday, October 21, 2015. If you have a combined total of more than $10,000 in offshore bank accounts, assets or investments you are required to file an FBAR or Foreign Bank Account Report with the IRS...
Willful Versus Non-Willful Designation Left Intentionally Vague by IRS?
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Thursday, December 3, 2015. We are often asked for a definition of "willful" versus "non-willful" activity by a US taxpayer as it relates to the disclosure of offshore assets, accounts and interests. The exact criteria for...
IRS to use Private Collection Companies to Track Down Tax Offenders
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS Collections on Tuesday, December 8, 2015. Last Friday, President Obama signed the Fixing America's Surface Transportation Act, or "FAST Act" into law. Part of the FAST Act is an order for the IRS to hire private collection...
Highway funding and passport revocation: a connection, please?
On behalf of Janathan L. Allen, APC posted in IRS on Wednesday, December 9, 2015. Many California residents -- in fact, scores of millions of Americans across the country -- regularly scratch their heads over politics as they are played out on Capitol Hill. In fact, much about the country's...
Over 177,000 Offshore Banks and Institutions Providing Financial Information to the IRS
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FATCA on Wednesday, December 2, 2015. The IRS has announced that FATCA agreements have led to the exchange of financial information regarding US taxpayers with 177,147 institutions in more than 200 sovereign nations and legal jurisdictions. The list...