By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Audits on Friday, September 25, 2015. The IRS may have missed several million dollars in taxes and associated fines relating to insurance companies and their handling of the Affordable Care Act or ACA. The ACA establishes an annual...
IRS wants $3.3 Billion in Additional Taxes from Coke after Audit
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Friday, September 18, 2015. With the completion of a 5 year IRS tax audit, the agency has notified Coca-Cola that it owes $3.3 Billion in back taxes and interest following an IRS audit of tax years...
The US Department of Labor Weighs In on “Employee v. Independent Contractor”
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Audits on Monday, September 14, 2015. The US Department of Labor has issued an update to it's own six factor test for whether to classify a person as an "employee" or an "independent contractor." This is a hotly...
India Taking Cues from FATCA in Search of “Black” Money
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Audits on Friday, September 11, 2015. The IRS has deployed a double prong approach under the Foreign Account Tax Compliance Act or FATCA: 1. Force foreign banking institutions, investment houses and sovereign tax authorities to provide information regarding...
Do Legitimate Deductions for Research and Development and Conservation Increase IRS Audit Risk?
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Audits on Thursday, September 10, 2015. Recent reports have placed the IRS at odds with the will of Congress and the legitiimate deductions businesses and individuals may claim on their tax returns. The two areas of concern include:...
What Began as a Transfer Pricing Audit has become a Brawl Between Microsoft and the IRS
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Audits on Wednesday, September 9, 2015. It seemed simple enough: The IRS sends Microsoft a notice about an intent to audit transfer pricing between Microsoft and several offshore affiliates. However, the IRS used an external law firm to...
Vice Chair of California Board of Equalization or BOE has Advice for Small Businesses
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in California Tax on Friday, September 4, 2015. The Vice Chair of the California Board of Equalization or BOE often conducts seminars for small business professionals to help them to avoid tax issues with the powerful California taxation authority. ...
IRS Admits Recent Cyber Attack Accessed a Much Higher Number of Taxpers Information
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Wednesday, August 19, 2015. The IRS has confirmed that a recent cyber attack has been much more severe than previously reported. The attack penetrated the social security numbers and additional information for more than 330,000 taxpayers. ...
Tax rule change increases likelihood of 6-year audit window
On behalf of Janathan L. Allen, APC posted in Audits on Tuesday, August 4, 2015. One of the rules that many taxpayers are aware of is the tax audit window. In most cases, the Internal Revenue Service has three years to audit a certain filing. However, that window can be...