The agency itself recently stated IRS audits are fewer in number but increasingly aggressive based upon the "decrease in resources available for examinations." AI has become the agency's primary tool to identify tax return anomalies, errors, and omissions, and target appropriate taxpayers for closer examination and/or audit. Key Takeaways From...
What Will Happen to Your Company if You Aren’t There to Run It?
What will happen to your company if you aren’t there to run it? What happens if you are seriously injured in an accident, incapacitated, suffer a serious illness or lose your life? Most business owners spend their time focused on the operation of their business, and the next steps in...
The Most Important Recent Changes in U.S. GAAP Accounting Standards:
What are some of the most important recent changes in U.S. GAAP Accounting Standards? Why is it important for public and private companies and corporations that do business in the United States to understand and apply all U.S. GAAP (Generally Accepted Accounting Principles) Accounting Standards? How can Janathan L. Allen,...
Proven California Sales and Use Tax Audit Representation
Are you searching for proven California sales and use tax audit representation? Have you received notification of a California sales and use tax audit by the California Department of Tax and Fee Administration (CDTFA)? Key Takeaways for Those Looking for Proven California Sales and Use Tax Audit Representation: California sales...
Legal and Accounting Services for Trustees and Executors
Allen Barron provides legal and accounting services for trustees and executors here in San Diego, and throughout the State of California. Most people are completely unaware of the heavy personal legal and financial responsibility they accept when they agree to serve as the executor of an estate or the trustee...
Business Succession Planning Protects Everything You’re Working to Build
What is business succession planning, and why is this an important and essential component of forming any new entity or protecting an existing business interest? Business succession planning protects everything you’re working to build by ensuring sound corporate management and decision-making continues if you are injured, disabled, or after your...
Why is a PFIC a Potentially Punitive Tax Consequence
What is a Passive Foreign Investment Company or PFIC, and why is a PFIC a potentially punitive tax consequence? Why is it important for any U.S. expatriate or U.S. taxpayer living or investing overseas to understand the concept of a PFIC and the implications these investments have on income tax...
A Transactional Approach to Business and Investment Planning
Why should you consider a transactional approach to business and investment planning? What is the best strategy to protect your assets while structuring gains and losses to minimize tax exposure? Key Takeaways Regarding a Transactional Approach to Business and Investment Planning: Most savvy business and investment professionals approach business and...
IRS Continues to Tighten Focus on U.S. Cryptocurrency Investors
2025 has brought substantial new challenges as the IRS continues to tighten its focus on U.S. cryptocurrency investors. Cryptocurrency brokerages are required to report gross proceeds for each digital asset transaction they manage on IRS Form 1099-DA. This requirement applies to all digital currency transactions on or after January 1st...