By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Thursday, October 22, 2015. The IRS proposed regulations yesterday based upon the recent Supreme Court ruling, recognizing same sex marriages. The IRS has recognized same sex marriages in States where they were legal since 2013. The...
IRS Warning Relating to FBAR and those with Offshore Bank Accounts and Assets
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FATCA on Tuesday, October 20, 2015. Last week was the deadline for US taxpayers who had requested extensions to file their tax returns. The following day the IRS issued Notice IR-2015-116 issuing a warning to US taxpayers with...
Over 100 Swiss Banks Alone Have Signed US FATCA Disclosure Agreement
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Monday, October 19, 2015. The number of banks who have signed a disclosure agreement with the IRS expands monthly, and more than 100 Swiss banking institutions alone have been added to the IRS list of 50%...
Employers Must Withhold Payroll Taxes on Employment Related Judgments
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in California Tax on Friday, October 16, 2015. The California Court of Appeal recently provided clarification and confirmation of a corporation's responsibility to withhold payroll taxes on employment related settlements or judgments. When an employee reaches a settlement or...
IRS Chief John Koskinen Under Increased Pressure
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Audits on Monday, October 12, 2015. IRS Chief John Koskinen continues to experience pressure from many political directions, growing out of IRS audit targeting and the treatment of political groups by the agency over the past several years....
IRS Data Exchange with Foreign Entities Affecting US Expats Overseas
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Friday, October 9, 2015. Recently, the IRS completed an initial run of data exchange with a group of countries under the agreements stemming from the passage and implementation of the Foreign Account Tax Compliance Act or...
IRS Now Actively Exchanging Information with Foreign Countries and Tax Agencies
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Monday, October 5, 2015. The vision that was encompassed in the design and passage of the Foreign Account Tax Compliance Act or FATCA has been formally realized. The IRS recently announced that the swap of data...
Ohio Judge Slams Presidential Candidate on FATCA and FBAR
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FATCA on Friday, October 2, 2015. Presidential Candidate Rand Paul, and six others who filed suit in an Ohio jurisdiction challenging portions of the Foreign Account Tax Compliance Act or FATCA have been handed a severe setback in their case. ...
October 15 is close, so get your time-extended filing ready
On behalf of Janathan L. Allen, APC posted in IRS on Monday, September 28, 2015. We've written about tax filings extensively, and one of the aspects of tax filings that is important for everyone to know is that you can give yourself a six-month extension for filing your taxes. Through...