IRS UNCOLLECTIBLE STATUS
Jul 30, 2013
The IRS puts many taxpayers into the Uncollectible Status category or classifies them "Currently Not Collectible" (CNC) every year. This status means that the IRS will not pro-actively seek back taxes ...
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EMPLOYER’S BEST PRACTICES AND POLICIES TOWARD EMPLOYEES IN THE WORKPLACE
Jul 22, 2013
There are a number of steps employers must take to prevent potential lawsuits other labor disputes by its employees that can drain the financial resources of a company. The following are recommended st...
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DERIVATIVE ACTION LAWSUITS
Dec 12, 2012
What is a Derivative Action?
Under California law, a corporate shareholder (or LLC member and, in many instances, a partner in a partnership) can bring a legal action for damages against management on...
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NEW CALIF LAWS IMPOSE STIFF PENALITES FOR MISCLASSIFICATION OF EMPLOYEES AS INDEPENDENT CONRACTORS
Dec 11, 2012
Effective January 1, 2012, employers in CA will face stiff penalties including fines of $5,000 to $10,000 for first violations and up to $25,000 for repeat violations for "voluntarily and knowingly" ...
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New IRS Offer In Compromise Process Gives Real Tax Relief
Jun 20, 2012
WASHINGTON - On May 21, 2012, the IRS announced a new expansion of its "Fresh Start" Offer in Compromise (OIC) program in an effort to encourage taxpayers who owe back taxes to pay off their tax oblig...
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Important Tax Law Changes for 2011 Federal Individual Income Tax Returns
Feb 11, 2012
Here are a few important tax changes that took effect in 2011 that could affect your 2011 individual income tax returns.
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Should you file Form 8938, "Statement of Foreign Financial Assets"?
Dec 22, 2011
The Internal Revenue Service has posted to its website the instructions and the form for reporting non-U.S. (foreign) financial assets under section 6038D of the Internal Revenue Code. This new Form ap...
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ARE YOU CHOOSING THE RIGHT BUSINESS ENTITY?
Dec 11, 2011
So you want to start a business and you don’t know which type of business entity you should choose? This article is intended to list the major questions you may be asking yourself, and hopefully prov...
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YEAR END TAX PLANNING FOR 2011
Nov 20, 2011
Now is the time to involve yourself with year end tax planning strategies for Businesses and Individuals. Sound tax planning in November can often go a long way on April 18, 2012 - the filing deadline ...
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Foreign Account Tax Compliance
Nov 10, 2011
Foreign Account Tax Compliance
The IRS is engaged in the serious enforcement of the Foreign Account Tax Compliance Act (FATCA). This is a recent ACT intended to combat tax evasion by U.S. persons hol...
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