By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Monday, January 26, 2015. The IRS has already announced this year that it will be less responsive to questions from US taxpayers, and that refunds (especially on manual returns) will be delayed. Blaming recent budget cuts,...
IRS Will Audit 1 Million Americans in 2014
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Tax on Friday, January 23, 2015. IRS Commissioner John Koskinen recently noted that the IRS would conduct 1 Million audits in 2014, slightly down from 2013 but still a substantial number. The IRS will not tolerate cheaters, and...
The Structure of the Sale of a San Diego Business Will Make a Big Impact on The Net Profit Generated by the Transaction
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Mergers & Acquisitions on Thursday, January 22, 2015. Selling a business can be quite complex, and the structure of the agreement and choices made by the parties will have a substantial impact on associated taxation, and the actual...
Even with potential IRS issues looming, get your tax filing ready
On behalf of Janathan L. Allen, APC posted in Delinquency on Thursday, January 22, 2015. Last week, we wrote a post about how the Internal Revenue Service is predicted to have a very tough time this year with tax returns. More specifically, that post talked about predictions that say the...
The Choice Between an LLC or a Corporation in San Diego Starts with The End of Your Business
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Business Formation on Wednesday, January 21, 2015. The decision on which entity to select for your new San Diego business, LLC, C Corporation or S Corporation often begins with how your new company will end. This may seem...
Consumer Reports Warns Home Based Businesses of IRS Audit Risks
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Tuesday, January 20, 2015. In a recent article by "Consumer Reports" there were a few recommendations for home based businesses to reduce IRS audit risk that I absolutely agreed with based upon recent IRS behaviors with...
It May Take 3 Years for IRS to Fully Integrate Foreign Account Information
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FATCA on Wednesday, January 14, 2015. It may be 2 to 3 years before we witness the full impact of the IRS response to all of the foreign account information and asset documentation they received as a result...
IRS Steps Up Pressure on Revenue Agents to Increase Collections
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Friday, January 16, 2015. The IRS is continually seeking new ways to increase tax revenues, and to enforce the collection of taxes for those who have already received a "determination". If you owe the IRS back...
Only a Tax Attorney Can Provide the Insight and Protections Necessary for FBAR Filers
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FATCA on Tuesday, January 13, 2015. The recent developments for US taxpayers with foreign accounts and assets and the implications of FBAR compliance significantly increases the importance of seeking the insight and protections provided by an experienced tax attorney. Our office...