If we deal with large cash payments of more than $10,000.00, we must report this to the IRS by filing the IRS Form 8300. The form needs to be finished timely, correct, and complete notices to the person(s) required to be identified on the Form 8300. The purpose of this requirement is to provide valuable
IRS
New Argument for Contesting the Trust Fund Recovery Penalty
Employers are responsible for withholding income and employment taxes from their employees. These taxes are referred to as trust fund taxes because the employer is only holding the money for the employee to pay the IRS. When an employer fails to withhold the money and pay it to the IRS, individuals who are “responsible” and
Is Health Insurance Mandatory?
Under the Affordable Care Act, also known as Obamacare, Americans were required to have health insurance coverage for their household. Failure to have health insurance coverage triggered a tax penalty. However, as of January 1, 2019, health insurance coverage is no longer mandatory at the federal level. This means that the Internal Revenue Service (IRS)
Head of Household Tax Mistakes
Every year the IRS and Franchise Tax Board send out thousands of questionnaires to taxpayers for clarification on their tax filing statuses. We regularly work with clients at our tax law offices in San Diego, Orange County and Los Angeles to help them choose the correct filing status from head of household tax mistakes. Head
Understanding IRS Audit Notices
The number of IRS audits actually went down in 2015-of course that is of little comfort to the people coming into our tax law offices in San Diego, Orange County and Los Angeles. The tax agency expects to complete approximately 1-million audits this year—which is down almost 400,000 from just three years ago. The reason—budget cuts
Successful Whistleblower Claims
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
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
Stop Identity Theft in its Tracks-Part One
It seems like we keep reading the same stories over and over again—thieves have cracked a corporate network and stolen credit card and personal information from thousands of people. The latest breach comes from of all places, the IRS where thieves stole personal and sensitive information from more than 100,000 people. We hear about its
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
Free Tax Resources
Imagine opening your mailbox to find an official letter from the IRS or the California Franchise Tax Board questioning a past tax return or demanding back taxes and threatening to attach your paychecks or seize your assets. If you’re like most people, a sense of panic and worry sets in as you wonder how you’ll