What is Criminal Tax Fraud & False Statement?
Are you aware that anyone who knowingly assists in any way in the preparation of an IRS document that is false, can be found guilty of a tax crime?
What Are IRS Allowable Living Expenses? [Definition & Classifications]
Allowable Living Expenses are excluded from the calculation the IRS uses to determine a taxpayer’s reasonable collection potential. The IRS will always allow taxpayers to keep enough cash to pay for allowable living expenses.
Your Rights as a California Taxpayer
Knowing and exercising your rights during a tax audit can reduce the tension caused by a stressful California sales tax audit.
How to Prepare for a 1099 Independent Contractor Audit
The 1099 independent contractor portion of preparing for the audit is by far the most labor-intensive and time-consuming portion of the project.
4 Frequently Asked Questions about California State Taxes
Do you have questions about tax payment plans, innocent spouse relief, being put through the ringer with CDTFA collections, or how California can track you down?
IRS Prioritizes More Delinquent, High-Income Taxpayers
The IRS is stepping up Revenue Officer Compliance Sweeps (“ROCS”) which involve physically sending groups of revenue officers to geographic areas where there are concentrations of high-priority cases.
Taxpayers, the IRS and Cryptocurrency
Did you know that there are now thousands of different cryptocurrencies? The popularity of bitcoin has risen with its value and this has piqued the interest of the IRS.
Know about Tax Debt before Filing for Bankruptcy
There are always issues that accompany the decision to file for bankruptcy such as tax consequences. The debtor must try to satisfy not just the creditors, but often federal and/or state tax collectors.
Establishing Residency or Domicile in California Can Be Taxing
Did you know that a 2020 California FTB guideline states “if you are impacted by the COVID-19 pandemic, it is one of the factors we will consider as we apply the general rules for residency and income sourcing?”
Can Internal Revenue Code Section 1202 Benefit You?
Have you heard about ‘‘qualified small business stock,’’ or QSBS for short, and is found in Section 1202 of the Internal Revenue Code? It allows taxpayers to exclude gain from certain stock.
California FTB Knocking Harder on Business Doors
Are you a business owner with California State Tax debt? Here are some tips when the FTB comes knocking.
Offers in Compromise, The IRS and COVID-19
Do you currently have an offer in compromise deal with the IRS or are you deep in tax debt and want to see if you can qualify for one?