On June 14, the Department of Justice unsealed an indictment against three American tax preparers for helping clients avoid taxes by moving money to Israel.The transgressions detailed in the indictment were relatively small. The indictment said the father and son David and Nadav Kalai and their colleague David Almog at a firm called United Revenue…
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About: Ronald Marini
Recent Posts by Ronald Marini
Getting ITIN becomes even more difficult for now.
IR-2012-62, June 22, 2012 WASHINGTON — The Internal Revenue Service announced on June 22, 2012, important interim changes to strengthen its procedures for issuing Individual Taxpayer Identification Numbers (ITINs) from now through the end of the year. Designed specifically for tax-administration purposes, ITINs are only issued to people who are not eligible to obtain a…
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Income from Certain Government Bonds not PFIC Income.
Notice 2012-45 This notice provides guidance regarding the treatment of certain government bonds for purposes of determining whether a foreign corporation is a passive foreign investment company (PFIC). Section 1297(a) provides that a PFIC is any foreign corporation if 75 percent or more of its gross income for the taxable year is passive income or…
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California Franchise Tax Board (FTB) To Issue 475,000 Tax Levies for Delinquent Tax Debts
If you or your clients have tax problems and owe California State income taxes, the Tax Man Cometh! The California Franchise Tax Board (FTB) is collecting delinquent tax debts through the Financial Institution Record Match (FIRM) program. FIRM uses automated data exchanges to locate bank accounts held by Californians who have tax debts. The FIRM…
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