How Do I appeal and EDD Audit?
Appealing an EDD Audit If the EDD issues an audit assessment, you will receive information about your appeal rights. Taxpayers often ask their tax attorney, how can I appeal an EDD audit? You may draft a petition for reassessment with an independent third party, the California Unemployment Insurance Appeals Board, for a hearing before an... Read More
DO I HAVE AN FBAR FILING REQUIREMENT?
Many people unknowingly have an FBAR filing requirement. If you are a US taxpayer with signature authority over a foreign bank account or other financial asset with a value of over $10,000, you likely have an FBAR filing requirement. FBAR refers to FinCen form 114. What is the FBAR? The FBAR is a form that... Read More
The New IRS Email Scam Coming to Your Inbox
By LAURA SAUNDERS Sept. 29, 2016 6:00 a.m. ET Americans, beware: the Internal Revenue Service isn’t emailing you. Just recently, a new scam has started involving fake tax bills tied to the Affordable Care Act. In one sure sign the notices are fake, many are arriving by email – and the IRS doesn’t initiate taxpayer contact... Read More
THE STRUCTURE OF THE IRS
The IRS is part of the Treasury Department and is headed by the Commissioner of the Internal Revenue Service. The IRS is organized by operating divisions. There are four major operating divisions. Wage and Investment Income Division Wage and Investment Income Division (W&I): W&I covers individual taxpayers, including those who file jointly, who receive wage... Read More
HOW CAN I PREPARE FOR AN IRS, EDD, SALES TAX, OR FTB AUDIT?
How can I prepare for an IRS, EDD, Sales Tax or FTB audit? If you are selected for an IRS audit or EDD audit, it is easy to feel overwhelmed and underprepared. This tax blog post will help you understand the process and prepare for a successful outcome. Therefore, organizing the records you bring or... Read More
EDD PERSONAL ASSESSMENT
What happens if my business has an EDD liability? The EDD collects payroll taxes. If a business has not paid its payroll taxes, an EDD assessment will try to collect the taxes. The EDD collects taxes either in a lump sum or via a monthly installment agreement. Moreover, if you need an installment agreement, the... Read More
EDD AUDIT PROCEDURES
What Can I expect in an EDD Audit? The California Employment Development Department, otherwise known as the EDD, is the state taxing agency that deals with employment taxes. The EDD processes state payroll tax returns and monitors tax payroll tax liabilities. The EDD also conducts audits and has a collections department to deal with and... Read More
IRS Announces 2017 Estate And Gift Tax Limits: The $11 Million Tax Break
For 2017, the estate and gift tax exemption is $5.49 million per individual, up from $5.45 million in 2016. That means an individual can leave $5.49 million to heirs and pay no federal estate or gift tax. A married couple will be able to shield just shy of $11 million ($10.98 million) from federal estate... Read More
Former IRS Special Agent Indicted on Tax Charges
BY MICHAEL COHN: A federal grand jury indicted Thursday a former special agent who worked in the Internal Revenue Service’s Criminal Investigation unit, charging her with filing false tax returns, theft of government money and obstructing a federal investigation. A Sacramento-based CPA, allegedly filed false individual income tax returns for 2009, 2010 and 2011,... Read More
IRS Plans More Efficient Audits of Tax-Exempt Groups
The Internal Revenue Service has released its work plan for the coming year outlining its priorities for examinations and audits of tax-exempt organizations. See article about the IRS Audits of Tax Exempt Groups. Charitable and other nonprofit organization may received a letter or phone call from IRS Exempt Organizations (EO) Examinations saying it had been selected... Read More