All taxpayers have rights when they interact with the IRS. These ten rights are the Taxpayer Bill of Rights, and they cover a wide range of topics and issues that directly affect taxpayers. These rights explain what taxpayers can expect in the event they need to work with the IRS on a personal tax matter. [...]
Assembly Bill 91 modified the Earned Income Tax Credit, created the Young Child Tax Credit, disallowed a separate state election for certain qualified stock purchases, and selectively conformed, with modifications, to several federal Tax Cuts and Jobs Act provisions. In summary, AB 91: Modifies the Earned Income Tax Credit by increasing the maximum adjusted gross [...]
Through the years working in tax law, one of the biggest issues that arises for business owners is taxes. Many people that have a special trade who decide to go out on their own and be their own boss, find themselves hiring our firm due to owing back taxes or being audited. Many people have [...]
As the deadline approaches for filing personal tax returns for those who filed extensions for the 2018 tax year, we often have to remind individuals that although they can file an extension to file the returns by the October 15th deadline, it does not extend the time to pay the taxes. With all the changes [...]
The filing of a final return will not legally terminate a business and will not end its requirement to file and pay taxes. The entity is still required to submit the Certificate of Dissolution/Cancellation document to the California Secretary of State (SOS) to close/withdraw their business. If you filed a corporate or Limited Liability Company (LLC) [...]
To understand the AB5 law, Wikipedia explains it simply... "California Assembly Bill 5 or AB 5 is a California law which limits the use of classifying workers as independent contractors rather than employees by companies in the state. Employees are entitled to greater labor protections, such as minimum wage laws, sick leave, and unemployment and [...]
Natural disasters can – and do – happen at any time. Whether it’s a hurricane, fire, flood, earthquake or tornado, there are things people can do to prepare in advance of a disaster. Here are several links that can help taxpayers before and after a disaster: Reconstructing records after a disaster; IRS provides tips to [...]
The IRS encourages everyone to use the Tax Withholding Estimator to perform a quick “paycheck checkup.” This is even more important following the recent changes to the tax law for 2018 and beyond. The Estimator helps you identify your tax withholding to make sure you have the right amount of tax withheld from your paycheck [...]
WASHINGTON – With the approach of the holidays and the 2018 filing season, the IRS, state tax agencies and the nation’s tax industry urge people to be on the lookout for new, sophisticated email phishing scams that could endanger their personal information and next year’s tax refund. The most common way for cybercriminals to steal [...]
IR-2017-193, Nov. 27, 2017 WASHINGTON – During the online holiday shopping season, the IRS, state tax agencies and the tax industry remind people to be vigilant with their personal information. While shopping for gifts, criminals are shopping for credit card numbers, financial account information, Social Security numbers and other sensitive data that could help them [...]