Did you know that in the past few years the IRS has created dozens of newly minted millionaires? The tax agency paid Bradley Birkenfeld 104-million dollars. Another example is Lynn Szymoniak, who walked away with 18-million dollars. In 2015, close to a hundred people walked away on average with more than a million-dollars apiece according to
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The IRS and Whistleblowers
For years, a Swiss banker named Bradley Birkenfeld took part in hiding millions of dollars for wealthy American clients. Birkenfeld eventually spent two and a half years in jail for his tax avoidance scheme. Five weeks after he was released from jail, the IRS sent Birkenfeld a check for 104-million dollars (minus taxes) as part
What to Expect From a Tax Audit
“What does this mean?” It’s the most common question we’re asked regarding audit notices when people come to our tax law offices in San Diego, Orange County and Los Angeles. The letters typically arrive without warning and it catches taxpayers off-guard. In this post we’ll try to dispel some myths and explain what the IRS
How Traders Write Off Large Losses
One of the common problems we see in our tax law offices in San Diego, Beverly Hills and Orange County has to do with investors and financial traders who have improperly set-up their business and consequently are being audited after taking deductions under Section 475 of the mark-to-market securities tax code. The IRS established Section
SD Chargers
Local tax law firm throws its support behind the San Diego Chargers in their plight to a new stadium. Local officials are trying to devise an economically viable plan to build a new stadium while officials from the team are exploring options that may include them leaving San Diego, and RJS LAW is rallying support
RJS Law Moves Beverly Hills Tax Law Firm Location
RJS LAW moves Beverly Hills tax law firm location to Wilshire Boulevard. Now in the heart of Beverly Hills, the new location allows the firm to continue to grow into Southern California’s premier tax law firm.
Should You Hire a Tax Attorney?
It’s the kind of mail nobody wants to receive—a letter from the IRS. It’s pretty much given that any mail you get from the agency is most likely not going to contain good news. If you receive a letter from the IRS you have an important decision to make. Should you try to represent yourself
Deduct With Care: These Write-Offs Could Lead to Audits
As a tax law firm we deal with IRS and Franchise Tax Board audits on a daily basis. As we review tax returns and prepare our clients for the audit process, one question comes to mind during many of these interviews: “What was their tax attorney thinking?” We’ve put together a short list of areas
Credit Reporting Agencies – How fair are they?
The ability to obtain credit is an important facet of American life. The ability of companies to grant an extension of credit drives a major portion of the economy, and much of that economy is based on businesses being able to extend credit to consumers. The ability to safely extend credit to consumers is based
What to Do if You Have an Undeclared Foreign Bank Account
IRS OVDI – I have an undeclared foreign bank account. What do I do? Ownership of an undeclared foreign bank account can cause the average American taxpayer to feel a sense of impending doom. Due to the many disclosure laws that have been implemented over the years, and the potential fines and criminal penalties they
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