Lately, when we hear about Lindsay Lohan, it is because she is getting into a car accident or is starring in a made-for-TV movie of debatable quality.One of Lohan's recent troubles involves unpaid taxes. Her story actually represents a set of circumstances from which...
Month: December 2012
Avoid IRS tax on unpaid mortgage debt with a short sale: going fast!
There is not much time left, but those in San Francisco who can take advantage of a short sale before the end of 2012 would be wise to do so. A number of tax law changes are about to take place on January 1, 2013, if Congress does not act - which it seems unlikely to...
Overseas banks balk at Foreign Account Tax Compliance Act
There has been some controversy surrounding the Foreign Account Tax Compliance Act that many people in San Francisco may have heard about. The new law forces overseas banks to share with the Internal Revenue Service very personal information on American customers...
Tax fraud allegedly committed by California state workers
When one thinks of tax fraud in California, one might think of someone hiding assets in an offshore account and not claiming the interest or dividends. Or one might think of a drug dealer or other nefarious character that does not file tax returns but drives a late...
Internal Revenue Service sued for non-enforcement of ban
Just two weeks ago we posted about the lack of IRS enforcement of the tax code which restricts religious institutions from making political endorsements, or risk losing their nonprofit status. Not only has the lack of enforcement by the IRS not gone unnoticed, it has...
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Even a fortune can disappear without sound estate planning
Some figures baffle.Like the speed of light. Like the age and size of the universe. And like estimates pegging the personal fortunes of America's richest families.Consider this imagery relevant to the storied Vanderbilt family for a moment: a pile of money equaling...
Broad, measured thinking out of the box promotes sound estate planning
"You own this." Those words might sound frightening to a would-be California estate planner, but they are actually meant to promote a feeling of empowerment rather than intimidation. It is no secret that legions of...
Remarrying couples unquestionably need to focus on estate planning
Many remarrying California individuals fail to timely consider and update existing estate plans to reflect new realities.Don't be one of them. Many remarrying California individuals fail to timely consider and update existing estate plans to reflect new...
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