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Category

Taxes
26
Mar

Dealing with the IRS – You Do Have Rights

March 26, 2018,
Dealing with the Internal Revenue Service (“IRS”) can be a daunting and intimidating task for any person or business. The unfortunate reality is that the IRS has the power to completely disrupt an individual’s life or a business’ operations. However, taxpayers are not powerless. Individuals and businesses have rights when dealing with the IRS that...
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01
Jan

Tax Cuts and Jobs Act

January 1, 2018,
As of the writing of this article, the Senate and House of Representatives have passed the Tax Cuts and Jobs Act (the “Act”) and it is being sent to President Trump to sign into law. The new tax laws that are slated to become effective January 1, 2018 will be a bit of a shock...
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01
Dec

IRS Outsourcing Collection to Private Collection Agencies

December 1, 2017,
On December 2015, Congress enacted the Fixing America’s Surface Transportation Act (FAST Act). Contained within the FAST Act was the requirement that the IRS enter into qualified tax collection contracts with private collection agencies (PCAs) for the collection of outstanding inactive tax receivables. The assignment of inactive accounts to PCAs was scheduled to begin in...
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01
Nov

Year-End Tax Planning for 2017

November 1, 2017,
As of the writing of this article, the House has passed their tax reform bill and the Senate has advanced their tax bill out of committee with a proposed vote after Thanksgiving. This whirlwind tax reform session will throw some turbulence into year-end tax planning. The Republicans have proposed cutting many deductions that have been...
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01
Sep

Is Your Revocable Living Trust Income Tax Friendly?

September 1, 2017, ,
Many people, once they have executed their revocable living trust, put it in a drawer and never revisit it. However, circumstances change over time that may warrant a review of the revocable living trust and changes made to it. Over the last few years, the Applicable Exclusion Amount for estate taxes has risen to $5,490,000...
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01
Aug

Partnership Audit Rules Are Changing #2

August 1, 2017,
Last September 16th, I wrote an article in the Central Valley Business Journal (“CVBJ”) about the new partnership audit rules titled “Partnership Audit Rules Are Changing.” That article goes into the basic mechanics of the rules established by the Bipartisan Budget Act of 2015 signed by Barack Obama in 2015 and for your reference I...
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22
Feb

Tax Filing Season Audit Thoughts

February 22, 2017,
The due date of April 15 for your federal and state taxes is fast approaching. However, don’t fret, you are getting a reprieve this year. The actual due date for your return is Tuesday, April 18, 2017 due to the 15th being a Saturday, and the following Monday being Washington D.C. Emancipation Date holiday. I...
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25
Jan

California Competes Tax Credit

January 25, 2017,
California is generally considered a business unfriendly state due to its high taxes and strict regulatory environment. Over the last few years, businesses have taken their operations to more friendly states, think Jamba Juice’s move to Texas and Tesla choosing Nevada instead of California for its Gigafactory. California has had an enterprise zone tax break...
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18
Dec

Trump v. Clinton Tax Plans

December 18, 2016,
Trump v. Clinton Tax Plans Darren J. Pluth American taxpayers will vote for the next president this November 8th and each candidate has wildly different tax plans. Trump stands by the Republican’s view of fiscal conservativism with a smaller government and less taxes. Clinton’s plan, on the other hand, mimics that of the values associated...
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22
Feb

Private Collection Of Federal Tax Debt: Recipe For Disaster

February 22, 2016,
Private Collection Of Federal Tax Debt: Recipe For Disaster On December 4, 2015, President Obama signed into law the Fixing America’s Surface Transportation Act, or “FAST Act.” It provides long-term funding for transportation projects over a period of ten years.  The bill also requires the Internal Revenue Service (IRS) to use private debt collection companies. ...
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The attached articles were written based on the state of the law as of the date written.  The authors of the attached articles assumes no responsibility to update the content of the articles as a result of any changes in the law.  Anybody reviewing the attached articles should consult with the authors of the articles, or their professional tax or legal advisor to verify the current status of the law as it relates to their own personal transactions.