On behalf of Janathan L. Allen, APC posted in IRS on Wednesday, April 30, 2014. A recent report from the Treasury inspector general for tax administration found that from Oct. 2010 to Dec. 2012, more than $2.8 million in bonuses was paid by the Internal Revenue Service to employees who either...
24% of Those with Unreported Swiss Account Holdings Were California Residents
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Saturday, May 24, 2014. In February of this year, the US Government Accounting Offices (GAO) released a report that showed a staggering $2 Trillion dollars in hidden Swiss bank and investment accounts, and that 24% of...
Attorney-Client Privilege Key for Californians with Swiss Bank and Investment Accounts
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Thursday, May 15, 2014. How is "attorney-client" privilege going to help with the exposure Californians face thanks to the Swiss Banks and the IRS? You've been sheltering income and assets in your Swiss bank and investment...
How Does the IRS Offshore Voluntary Disclosure Program Work and How Does That Affect my California Taxes?
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Saturday, May 17, 2014. The IRS has developed the Offshore Voluntary Disclosure Program (OVDP) to allow taxpayers who have failed to disclose any offshore asset or financial account through mandatory FBARs to petition the IRS for...
Knock, knock. The Franchise Tax Board is calling.
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Audits on Tuesday, August 26, 2014. If you filed your California tax return using the Head of Household (HOH) status, then be prepared get a letter in the mail from your friendly Franchise Tax Board (FTB). The FTB...
What Happens if My IRS Streamlined Domestic Offshore Procedure Request is Denied?
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Wednesday, August 6, 2014. Many US taxpayers may be disappointed to learn that their application to participate in the IRS' Streamlined Domestic Offshore Procedures was denied, and that they face the full force of civil and...
Can the IRS Take All the Money in My Bank Account for Back Taxes?
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Wednesday, September 24, 2014. Yes, the IRS has significant powers to seize assets such as bank accounts, retirement accounts, or any real or personal assets you own or have an interest in. It is important to...
Debt and tax liens involved in Chris Tucker-IRS case
On behalf of Janathan L. Allen, APC posted in IRS on Friday, September 12, 2014. As many people know, the actor and comedian Chris Tucker has had a bit of a tough time with the Internal Revenue Service over the years. It appears that over seven years, Chris Tucker ran...
How You as an Employer May be Liable for Employee Wage Levies
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Thursday, September 18, 2014. As we've discussed several times before, tax liens from the IRS can cause significant concerns and problems. Tax liens affect not only you, but also affect third-party creditors that have assets belonging...