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...
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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...
Mansion sellers seek buyers as fiscal cliff nears
It is impossible to turn on the cable news or the radio in San Francisco, or go online without reading, seeing or hearing about the fiscal cliff. There are just two weeks planned for Congress to be in session and the future is still murky. If nothing is done, the...
Churches need not fear an IRS audit because they are nonexistent
True or false: nothing is certain in life other than death and taxes. Apparently the answer may be false for churches, synagogues and other religious institutions in San Francisco and across America. It may be false because the Internal Revenue Service has not been...
Bye-bye DOMA, hello refund for same-sex couples?
One of the reasons that same-sex marriage has been passed in other states in addition to California, is because of the preferential tax and legal status granted to married couples. One problem however is that the Defense of Marriage Act, or DOMA, puts the federal...
Update: Post-election California tax law changes
The taxes paid by those of us in California are a conglomeration owed to the state and federal government plus local municipalities. Those who follow the old saying that there is nothing so sure as death and taxes, may not have looked at the last California ballot...
State Franchise Tax Board zeroing in on back taxes
Those in the Bay Area who have been following our column understand that one of the main tasks of the Internal Revenue Service of late has been to collect uncollected taxes. The IRS has been using a carrot and stick approach to fill their coffers with the money owed....
Congress considers credit bureau alerts for unpaid taxes
In previous posts we have mentioned that the Internal Revenue Service is attempting to crack down on those with unpaid taxes. Whether it is someone who made an honest mistake or it is well-planned tax evasion, the IRS is going after unpaid income taxes. The IRS seems...