In the process of beginning to create an estate plan a lot of people have probably heard that it is best to give away a substantial portion of one’s wealth before they are gone in order to minimize tax liability and to make sure that gifts go to the people and...
Bay Area Estate And Tax Planning Law Firm
Month: February 2014
Court rejects IRS attempt to regulate tax preparers
A federal court recently struck down an Internal Revenue Service proposal that the agency be permitted to oversee professional tax preparers. The concept was fought by tax preparers from several states as well as libertarian groups who believed it was an overreach of...
IRS continues fight over Jackson estate valuation
The conflict between the Internal Revenue Service and the estate of legendary pop singer Michael Jackson continues as the IRS announces huge penalties for the alleged purposeful undervaluing of the estate. We covered this issue in a post last year when it first came...
Know the facts about tax audits
This time of year, tax audits are on everyone’s minds as we rush to compile financial paperwork and sit down for the task of completing our annual income tax returns. The ominous threat of the tax audit lurks in the background, waiting to jump out like a boogeyman if...
IRS may not be much help when it comes to tax questions
Tax season is officially in full swing, as most California taxpayers have now received all of the necessary forms to start the process of filing their taxes. For some people this means entering one or two simple forms into a free online program and calling it a day,...