When a probate judge cleared the way for the $2 billion sale of the Clippers not only Shelly Sterling came away as a winner. Donald and Shelly’s silent partners, the federal and California governments, were also in for their share of the sale. The Internal Revenue Service and the California Franchise Tax Board will reap […]

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When a plaintiff wins a judgment or reaches a settlement, the tax man will be lurking to get his share.  There are two main issues in the taxation of litigation.  This blog will focus on a plaintiff in a non-business litigation situation, such as personal injury or discrimination.  The first issue is the tax treatment […]

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Identity theft is on the rise and is a frustrating process for victims. Some studies estimate that over nine million persons a year are victims.

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Who are the IRS’s favorite superheroes? The X-Men. The IRS loves to hear from ex-spouses, ex-business partners and ex-employees about taxpayers who may not have fully met their federal tax obligations.

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California’s new Voluntary Compliance Initiative 2 is an opportunity for taxpayers who may have underreported their California income tax liabilities, through the use of abusive tax avoidance transactions or offshore financial arrangements, to amend their tax returns for 2010 and prior tax years and obtain a waiver of most penalties.

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The IRS announced Monday that it will make it easier for some taxpayers who were not aware of their spouse’s misreporting of taxes to seek innocent-spouse relief. The innocent spouse rule can relieve taxpayers of their tax liabilities, interest and penalties as a result of filing a joint tax return with their current or ex-spouse.

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Circular 230 contains rules governing the recognition of attorneys, certified public accountants, enrolled agents, and other persons representing taxpayers before the IRS (“Tax Practitioner”).  One of the most important duties of a practitioner is to provide information to the IRS. Circular 230 § 10.20 provides that a Tax Practitioner must, when lawfully requested by the […]

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With the current state of the world, charities are needed now more than ever. If you are contemplating creating a charity you should consult with a qualified tax attorney or advisor as the world of charities is more complicated than you would think.

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The IRS provides a forum for appealing a proposed income tax deficiency known as IRS Appeals, the only level of administrative appeal within the IRS.

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Taxpayer seeking the tax benefits of a transaction that the IRS deems to have no economic purpose, aside from reduction of tax liability, will face stiff penalties under the new 2010 Revenue Reconciliation Act.

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Circular 230 contains rules governing the recognition of attorneys, certified public accountants, enrolled agents, and other persons representing taxpayers before the IRS.

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The IRS announced on February 8, 2011 a special voluntary disclosure initiative designed to bring foreign accounts back into the U.S. tax system and help people with undisclosed income to avoid civil and possible criminal penalties.

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