By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FATCA on Friday, June 20, 2014. As Part of the Offshore Voluntary Disclosure Program or OVDP the IRS has provided new "Streamlined Domestic Offshore Procedures" for "non-willful" conduct that is in violation of FBAR and FATCA related reporting....
IRS Commissioner Hints that Changes in the OVDP May Be In the Works
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Sunday, June 22, 2014. IRS Commissioner John A. Koskinen made a startling revelation at a recent tax conference that the IRS was considering changing the existing OVDP to make things "more fair and equitable." Mr. Koskinen's...
Back tax issue resolved for late night TV show host O’Brien
On behalf of Janathan L. Allen, APC posted in Back Taxes or Tax Debt on Tuesday, July 1, 2014. Sometimes it doesn't matter if you have an accountant, or if you take your filing to a tax preparer. You can still get hit with tax issues and controversy, even when...
Can the IRS Take All the Money in My Bank Account for Back Taxes?
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Wednesday, September 24, 2014. Yes, the IRS has significant powers to seize assets such as bank accounts, retirement accounts, or any real or personal assets you own or have an interest in. It is important to...
Debt and tax liens involved in Chris Tucker-IRS case
On behalf of Janathan L. Allen, APC posted in IRS on Friday, September 12, 2014. As many people know, the actor and comedian Chris Tucker has had a bit of a tough time with the Internal Revenue Service over the years. It appears that over seven years, Chris Tucker ran...
How Does the State of California and the IRS Create Tax Issues for You Out of Thin Air?
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Audits on Tuesday, September 30, 2014. The State of California and the IRS are desperately seeking alternative sources of revenue, and recently we've seen a wave of attention focused on the issue of independent contractors. For many years...
How You as an Employer May be Liable for Employee Wage Levies
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Thursday, September 18, 2014. As we've discussed several times before, tax liens from the IRS can cause significant concerns and problems. Tax liens affect not only you, but also affect third-party creditors that have assets belonging...
Raising Capital Can Be A Challenge for an Existing Business
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Business & Contracts on Friday, September 12, 2014. What is the best way to provide additional operating capital or fund an acquisition or expansion? There will be many times over the life of most successful businesses where an...
What is a “Disclaimer Trust”?
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Trusts on Sunday, September 14, 2014. A "Disclaimer Trust" is a an effective alternative to the classic "A-B" revocable trust. If we use the example of a husband and wife with an A-B trust, when one spouse dies...