By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Audits on Tuesday, May 19, 2015. A recently proposed class action accuses Costco and California's sales tax authority alleging "the warehouse club collected too much sales tax for the authority from products that were listed as subject to manufacturer...
Why US and California Taxpayers Need Help with the IRS Now More than Ever
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Audits on Tuesday, April 28, 2015. "It looks to me like you're purposely harming taxpayers," Rep. Kristi Noem of South Dakota told IRS Commissioner John Koskinen at a recent hearing. Mr. Koskinen was reporting that over 8 million...
IRS Paid Businesses $3 Billion Too Much in Tax Credit Mistakes
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Audits on Monday, April 27, 2015. Last week the Treasury Inspector General, an internal IRS watchdog, released a report that detailed extravagent mistakes by the IRS that has cost the US treasury billions. Most of the errors were...
IRS Targeting “Microcaptives” as Potential Tax Schemes
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Audits on Friday, April 17, 2015. The IRS has targeted and is agressively auditing "Microcaptives" as one of the more common schemes to avoid paying taxes. Larger corporations have created their own "captive" insurance companies for years. This...
Californians Have the Highest IRS Audit Risk in the US
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Audits on Monday, April 13, 2015. According to "Accounting Today", a recent study showed that more Californians are audited than the residents of any other state in the US. This was based on a large sample of 1.4...
Why Should We Care that Your IRS Auditor is Overworked and Stressed to the Limit?
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Audits on Friday, April 10, 2015. IRS commissioner John Koskinen recently spoke at the Urban-Brookings Tax Policy Center in Washington discussing the pressures placed on the IRS and its employees. Commissioner Koskinen noted the double impact of substantial...
US Taxpayers Who Own an Interest in a Foreign Corporation IRS Audit Risks
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Audits on Wednesday, April 1, 2015. If you are a US taxpayer, and you own any interest in a foreign corporation you need to understand your IRS audit risks. The most important takeaway of this post is the...
It’s 2015, so get ready for tax season and the IRS
On behalf of Janathan L. Allen, APC posted in Audits on Wednesday, January 7, 2015. 2014 is officially done and with the calendars rolling over to 2015, it means that W-2s and tax information are going to be incredibly important in the coming weeks and months. People will be putting...
How to deal with an audit in a timely and proper manner
On behalf of Janathan L. Allen, APC posted in Audits on Thursday, May 15, 2014. It's been about a month since Tax Day, and there may be some people out there who are biting their fingernails out of fear of an audit. We talked about this very topic around Tax...