The IRS has added 7 more Swiss banks to the 50% OVDP Penalty List in December, and now more than 100 Swiss banks are providing information about US taxpayers accounts and transactions directly to the IRS. For those US taxpayers who have already come into FBAR compliance with the IRS...
What is a Disclaimer Trust and Should We Consider it to Replace Our Existing Trust?
What is a disclaimer trust and should you consider replacing older trusts with a disclaimer trust? There has been a lot of conversation (and misinformation) on this topic, and it is important for our clients to understand the advantages and disadvantages of each option available to them as they plan...
IRS Tax Season Has Officially Begun
The IRS tax season has officially begun, as the Internal Revenue Service began accepting income tax returns for 2015 yesterday. Allen Barron is working with individuals and businesses to prepare and file federal and state tax returns. Remove all of the hassle of working with the IRS, the FTB or...
California Tax Return Preparation
If you need assistance with California tax return preparation or filing, or face issues with the FTB, EDD, or BOE regarding a tax collection, wage garnishment of levy we invite you to contact the experienced tax, accounting, business and legal professionals at Allen Barron. We are uniquely positioned to assist...
Mergers and Acquisitions Strategies for 2016 in San Diego
There are several possible mergers and acquisitions strategies for 2016 for a San Diego business. What is the best opportunity for your business to grow? What are your long term plans as the owner of the business? Are you planning a merger, acquisition or the sale of your company? How...
California Lawmakers Work to Eliminate Conflict of Interest for BOE Tax Board
California lawmakers are working on legislation that would eliminate potential conflict of interest for the Board of Equalization or BOE tax board. California has the only elected tax board in the country, and there are concerns regarding contributors to board members campaigns and decisions by the board on tax related matters. ...
IRS May Question your 2014 Earned Income Tax Credit or EITC
The IRS has announced that many US taxpayers who claimed the 2014 Earned Income Tax Credit or EITC may receive a letter from the IRS questioning their deduction. The IRS has issued a notification that says many taxpayers will receive a 5621 Form Letter, a 5621-A or both, informing them...
If Business Litigation Erupts the Source of It is Usually the Underlying Business Contract
If you are involved in business litigation or a business dispute the source of it is usually the underlying business contract. The quality of your business contracts in every area of operation will determine the success and profitability of your company. Start 2016 on the right foot and have Allen...