By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Friday, May 23, 2014. Schedule B of the 1040(A) tax forms gets right to the heart of FBAR and the issues facing foreign born individuals living and working in the United States on a green card,...
How Does the IRS Offshore Voluntary Disclosure Program Work and How Does That Affect my California Taxes?
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Saturday, May 17, 2014. The IRS has developed the Offshore Voluntary Disclosure Program (OVDP) to allow taxpayers who have failed to disclose any offshore asset or financial account through mandatory FBARs to petition the IRS for...
How to deal with an audit in a timely and proper manner
On behalf of Janathan L. Allen, APC posted in Audits on Thursday, May 15, 2014. It's been about a month since Tax Day, and there may be some people out there who are biting their fingernails out of fear of an audit. We talked about this very topic around Tax...
Tax bill causes man to threaten IRS agent, face 20 years in jail
On behalf of Janathan L. Allen, APC posted in Tax Controversy on Wednesday, May 28, 2014. Last week, a federal judge ruled that a man was guilty of threatening an agent of the Internal Revenue Service. Apparently the agent was trying to handle a $330,000 tax bill that the man...
Tax liens are serious: here’s how they affect you
On behalf of Janathan L. Allen, APC posted in Tax Controversy on Friday, May 9, 2014. A city councilman in California and his wife have been hit with a tax lien totaling more than $35,000 after they failed to pay some or all of their taxes in 2009 and 2010....
The Immediate IRS Challenge for US Expatriates Isn’t Income Tax, It’s FBAR
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Wednesday, May 7, 2014. Many US expatriates focus on the amount of income that is excluded from US federal income taxes, and the thresholds for reporting and taxation. However, the most immediate threat to US expats...
A Simple Offshore Rental Property Can Create Substantial Issues with the IRS
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Saturday, June 14, 2014. If you have any income producing property in a country outside of the US it is important to report it properly to the IRS. As sources of potential revenue have dropped over...
California Franchise Tax Board faces lawsuit to disclose forms
On behalf of Janathan L. Allen, APC posted in Tax Controversy on Monday, June 23, 2014. The California Franchise Tax Board is but one of several tax authorities that Californian’s may have to deal with. If a tax controversy arises for a California business that involves the FTB, the issues...
Forgetting or failing to pay your taxes can cause problems
On behalf of Janathan L. Allen, APC posted in Delinquency on Wednesday, June 4, 2014. As we have written about before, tax issues are inherently complicated, thus making it difficult to give any blanket analysis of certain tax problems. Each individual case is going to have its individual answer, and...