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...
Did the IRS Miss Millions in Taxes in Fines from Insurance Companies?
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...
Last Minute Deduction Suggestions for Individuals Completing Extended IRS Returns in October
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Wednesday, September 23, 2015. So, you've extended your IRS tax return, and now the October 15th deadline is rapidly approaching. We thought you might appreciate a few ideas to help wring a few extra dollars out...