By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Thursday, December 17, 2015. The IRS recently announced the addition of several foreign banks and institutions to its list of 50% OVDP penalty institutions. These banks have been found by the IRS to help US taxpayers...
IRS Scammer Tactics Increasingly Aggressive – Warning to Consumers
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Monday, December 14, 2015 The IRS has issued another warning concerning scammers posing as the Internal Revenue Service. Most US taxpayers can quickly spot a scam on the phone, but the scammers are becoming much more...
A Staggering 25% of Americans Fail to Claim Earned Income Tax Credit – California Link in Study
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...
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....
Creating a Family Trust in San Diego
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Estates on Tuesday, December 1, 2015. What is a family trust, and why is it important for most California families to consider? Generally speaking, a family trust, also known as a revocable living trust, allows the creators to place...
IRS Extends Refund Timeframe for Many Foreign Returns
The IRS has decided to extend the time frame for refunds for nonresident and certain foreign US taxpayers who use Form 1042NR. The IRS has decided to exceed the 180 day time frame in order to provide additional scrutiny to refund requests leaving many undocumented workers without a refund for...
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...