The IRS has a separate team to evaluate transfer pricing transactions and cross-border business dealings for international businesses here in San Diego. If you are conducting cross-border transactions, or have multiple companies and transfer goods, services, or intangible assets between these affiliated companies you need the guidance and services of...
Amazon Savors a Huge Win Against IRS on Transfer Pricing
There has been a substantial development in the past week affecting international business as Amazon savors a huge win against the IRS on transfer pricing related tax disputes. The findings of a US Tax Court were stark: "The IRS acted in an arbitrary, capricious, and unreasonable manner when it applied...
What is more dangerous to Your Business Than an IRS Audit?
What could be more dangerous to your business than an IRS audit in San Diego? The failure to accurately collect and submit payroll related taxes and deductions may genuinely challenge more local small and mid-sized businesses than an IRS audit. If you have employees, your company is required to withhold...
Caterpillar Battle with Taxes – The IRS Isn’t Always Right
What does Caterpillar's ongoing battle over taxes have to do with business here in San Diego? It may surprise you to know the IRS isn't always right and in fact often misinterpret Generally Accepted Accounting Principles (GAAP) and even US tax code. Our office is often forced to stand up...
If You Owe the IRS More than $50k You’re About to Lose Your Passport
If you owe the IRS more than $50k you are about to lose your passport. The US Congress passed legislation in December requiring the IRS to provide a list to the US State Department of all US taxpayers who owe the IRS $50,000 or more. If you owe the IRS...
New Treasury Nominee Advocates Beefing Up the IRS
The new nominee for Treasury Secretary, Steven Mnunchin, advocates beefing up the IRS not stripping it down as most republicans advocate. Why? What would possess a Trump nominee to advocate on behalf of the IRS? Money. Pure and simple. The programs and undertakings of the US Government will require greater...
IRS Targets Bitcoin Transactions in Federal Case Here in California
There is an interesting case which has been filed in a California Federal Court. Concerns are mounting as the IRS targets bitcoin transactions through Coinbase, a bitcoin exchange, through the strategy of a "John Doe Summons." The IRS has used this strategy in the past in an attempt to force...
IRS Updates Guide for Business Tangible Property Regulations
Business owners should be cautious with how they manage business tangible property regulations - especially when faced with an IRS audit. Most US business taxpayers completed the implementation of the IRS Business Tangible Property Regulations last year. These new regulations were a guide to help business owners and their...
IRS Targeting Billions from Non-Filers
The IRS announced it has a new automated way to raise a substantial amount of taxes from US taxpayers who fail to file US tax returns. The new announcement from the Treasury Inspector General for Tax Administration says enforcement is aggressively increasing and has new focus at the IRS targeting...