On behalf of Janathan L. Allen, APC posted in Tax Controversy on Friday, March 7, 2014. sCredit Suisse Group AG is among 14 Swiss banks the Department of Justice is investigating for allegedly helping U.S. taxpayers evade taxes on assets held in foreign accounts. As you may know, the U.S....
Proposal could allow collection agencies to take over for IRS
On behalf of Janathan L. Allen, APC posted in Back Taxes or Tax Debt on Friday, May 23, 2014. A new proposal in front of Congress could cause a lot of headaches for people who have tax debt. Actually, scratch that -- this could cause a lot of headaches for...
It’s Not Just the Swiss, the IRS Has Information From Around the World
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Friday, June 20, 2014. A lot of ink and press coverage has been given to recent developments between the US Department of Justice and Swiss financial institutions. There are many foreign nations who host financial or...
OVDP Can Be Closed at Any Time After July 1 of This Year
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FATCA on Wednesday, June 4, 2014. I am very concerned about the future of the Offshore Voluntary Disclosure Program or OVDP. This program provides an option for US citizens, US expatriates and foreign nationals living and working in...
Swiss Banks Urging California Citizens to Apply for OVDP – Not So Fast!
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FATCA on Monday, June 16, 2014. Recently, Swiss banking institutions have been sending letters to US citizens and Californians who have deposits or assets in Swiss bank accounts, urging them to immediately apply for the IRS' OVDP program....
Tax debt and property taxes
On behalf of Janathan L. Allen, APC posted in Back Taxes or Tax Debt on Thursday, June 19, 2014. Taxes are an ever-present reality in our world. There are a wide variety of different types of taxes a person can have assessed to them: state taxes, federal taxes, property taxes,...
The Time is NOW to Come Into Compliance with IRS FBAR and Foreign Asset Reporting
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Thursday, June 26, 2014. There is a substantial financial incentive for resident US taxpayers and US expatriates to come into compliance with IRS streamlined guidelines and US laws relating to the reporting of foreign bank accounts...
You Cannot Hide Assets Offshore From the IRS Any Longer
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Saturday, June 28, 2014. The IRS has obtained foreign bank account and investment information that will tie specific foreign assets to unique US social security numbers. Many US taxpayers have attempted to shield assets and income...
Blended Families Require Careful Trust and Estate Planning
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Trusts on Wednesday, July 23, 2014. Second (and subsequent) marriages have become the "norm" in the San Diego area, and the resulting blended families and financial issues require careful attention from an experienced estate planning and tax attorney....