A major US financial newspaper today echoed Allen Barron's repeated warnings to offshore account holders to fear the IRS and impending IRS audits. The Wall Street Journal (WSJ) today issued a daunting warning to US taxpayers with offshore bank accounts, investment accounts and assets: "Are You Hiding Money Overseas from...
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...
Consider the Tax Ramifications of Your San Diego Divorce
While many people are obviously concerned about core issues such as child custody and parenting time and support payments, you should consider the tax ramifications of your San Diego divorce before signing a settlement agreement. Allen Barron's seasoned tax attorneys and accounting professionals work with your family law or divorce attorney...
IRS Audit Campaigns
The LB&I IRS audit campaigns are a targeted combination of resources and expertise focused upon 13 separate areas. The IRS Large Business & International Group (LB&I) has established the following teams: IRC 48C Energy Credit Campaign - This campaign ensures that only those taxpayers whose advanced energy projects were approved...
Does the New Corporate Tax Proposal Actually Create New Tax Shelter Opportunities?
The President's new corporate tax proposal rate of 15% may actually prove to create tax shelters for US taxpayers that would extremely difficult for the IRS to detect or pierce. At issue is the proposed 35% top individual tax rate and the 15% corporate tax rate which would apply to income...
Would Trump’s Tax Plan Cost Californians?
Would Trump's tax plan cost Californians and raise our taxes? There are too many trial balloons and false starts coming out of Washington on the "tax" front, but we are monitoring these developments and advising clients as they navigate the complex issues facing today's business owners. The latest income tax...
Why is an Estate Plan Important for All San Diegans?
What is estate planning and why is an estate plan important for all San Diegans? The answers in the end are quite simple: time and money. Do you own your home? Do you own a business or an interest in a local company? If so, an estate plan will save...
Planning for the Risks of a Cross Border Business in San Diego
These are volatile times and planning for the risks of a cross border business in San Diego has never been more important. Signals from Washington have been mixed, yet the probability of a border tax continues to loom for US based businesses here in San Diego. How will future developments...
Protecting Yourself in a San Diego IRS Audit
You should be primarily concerned about protecting yourself in a San Diego IRS audit to make sure you aren't providing additional information and leverage to the IRS. The first thing you need to know - it's not in your best interest to speak or communicate directly with the IRS. The...