Supreme Court will NOT Review Whether IRS Must Explain Tax Notices

Important Supreme Court decision on Tax Notices Yesterday the highest court in the U.S. declined to hear QinetiQ US Holdings Inc.'s challenge to a lower court ruling that held the IRS does not have to provide an explanation for issuing a notice of tax deficiency. This means that the 4th Circuit Court of Appeals decision stands. In the lower court's case Circuit Judge Barbara Milano Keenan said the following: "After reviewing QinetiQ's tax return, the Internal Revenue Service (IRS) issued a Notice of Deficiency concluding that QinetiQ had not shown its entitlement to the claimed deduction. QinetiQ later [...]

Fraudulent IRS Callers Battling with IRS Assigned “Professional” Tax Collectors!

IRS warns that phone scammers are preying on people We have entered into a new and confusing landscape in which taxpayers receive fraudulent calls from robots and foreign nationals that compete with calls from recently approved tax collectors who collect on behalf of the IRS. The path forward for both taxpayers and tax professionals may be confusing, but we remain committed to providing practical advice to those in need. While fraudulent calls made by imposters may be so poorly executed that it is sometimes hard to believe that anyone falls for their tricks, the truth of the matter [...]

CA State Board of Equalization is NO MORE!

By any other name the Taxman! Well, you'll still owe taxes but it will now be to a different agency with a new name! What was formerly known as the "CA State Board of Equalization" (SBOE) will now be called the "CA Department of Tax and Fee Administration" (CADTFA). Better, huh? This restructure is a result of Assembly Bill 102, The Taxpayer Transparency and Fairness Act of 2017, which was recently enacted into law. The intent of this bill was the dismantling what was considered a troubled tax agency by some. Here's what the San Jose Mercury News [...]

IRS Meets Robocop – The IRS Turns to Data Mining to Find Tax Evaders

Does tax evasion warrant widespread government spying? Welcome to the 21st Century.  The United States is fighting a "tech war" against its own citizens, assuming they are tax dodgers. By using "data mining", the IRS is seeking  to track down and collect taxes from those who move their income to Swiss banks and other offshore tax havens. Granted, these are “edge” cases, which were brought to light from the disclosures found in the Panama Papers (the set of documents from the Central American law firm Mossack Fonseca that were hacked by tech activist, Anonymous).. The question is “How [...]

Did you recently change your name? It could delay your tax refund!

Recent name change? It could delay your tax return! Sometimes completely normal life changes can have an unexpected side-effect?  For instance, did you just get married?  How about a recent divorce? Adopt a child? All of these completely normal, commonplace undertakings can have serious tax implications. If you're counting on your tax return for any reason you'll want to refer to the information below that came directly from the IRS. Here are the important points addressed: How to properly notify the Social Security Administration about a name change Making a Dependent's name change Parents of an Adoptive Child [...]

Taxing Billionaires is a Loser’s Game

Current tax policy isn't working. The U.S. federal deficit is approaching $20 Trillion.  Note that we said Trillion with a ‘T’ (click here to see the “up to the second” debt clock). The deficit didn't happen overnight, and suffice it to say, it won't get solved overnight.  When you look at the numbers the current populist are calling on "tax billionaires", aka the "Buffet Alternative Tax" to solve this problem, things just don't add up. Here is a rundown of the sobering truth: A quote from the Wall Street Journal from Tuesday, Sept. 20, 2011 states "(Donald Trump) [...]