What is important to know about an IRS audit in San Diego and how can Allen Barron improve your outcome and save you money? Most US taxpayers are surprised to learn it is up to you to prove you have followed US tax code and tax filing laws. The burden...
Should the Statute of Limitations Be Waived in Your IRS Audit
Should the statute of limitations be waived in your IRS audit or should you force them to finish their work? This is a complex legal and financial question requiring the insight of an experienced and seasoned IRS tax attorney from Allen Barron. It is important to understand the full process of...
New IRS Audit Tactic
The new IRS audit tactic is designed to make you relax, while drawing upon the good nature of most US taxpayers. It starts with a letter from the IRS called the "Letter 566" which appears to be fairly innocent. The Letter 566 will state they IRS has reviewed your return and...
What Happens When the IRS Audits your Business Earnings
What happens when the IRS audits your business earnings in San Diego? How will the IRS process work and what are the most important things to do if you receive notification of an impending IRS audit? Allen Barron has developed a complimentary guide "What to Expect from an IRS Audit"...
The US Tax Impact of Opening a Foreign Account
What is the US tax impact of opening a foreign account for a US taxpayer including foreign nationals who live and work in the United States? The requirement for US taxpayers to report offshore accounts has been around for quite some time. In 2004, the IRS added penalties for non-willful...
Is a Standardized Transfer Pricing Policy a Social Responsibility?
An interesting article in the New York Times recently raised the issue of a standardized transfer pricing policy as a social responsibility. In today's global economy the issue of transfer pricing has become a central focus for many governments, including the United States. The IRS recently announced the formation of...
IRS Battle with Bitcoin Gets Political
The ongoing IRS battle with bitcoin gets political as GOP legislators jumped into the fray today. You may remember a piece we did earlier this year regarding the IRS going after bitcoin exchange Coinbase. GOP legislators sent a strongly worded letter to the agency asking whether the "IRS has a...
IRS Audits Focused Upon OVDP Declines and Withdrawls
A new IRS Large Business & International (LB&I) campaign targets US taxpayers for IRS audits focused upon OVDP declines and withdrawls from the FBAR related program. Once the IRS implemented FATCA based regulations and the associated Foreign Bank Account Reporting (FBAR) requirements US taxpayers were required to disclose all offshore...
Increased IRS Scrutiny of Cross-Border Transfer Pricing Issues
San Diego businesses face increased IRS scrutiny of cross-border transfer pricing issues thanks to a new IRS LB&I audit campaign. The IRS has mobilized several specialists with extensive international business expertise into a team under their Large Business and International (LB&I) audit division. This IRS audit team is targeting small,...