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In a previous post we reminded our California readers that June 30 was the deadline to file their Report of Foreign Bank and Financial Accounts, or FBAR, to the Internal Revenue Service. The report is required for anyone with more than $10,000 in a foreign or offshore...

There are a number of unpleasant consequences which can occur when someone is behind on their taxes. Two issues can be involved: how much is owed and what entity is owed the taxes. As we have stated in previous posts, it is possible to achieve a compromise or workout...

Perhaps if you pay $100 million for your house or estate in Silicon Valley, it doesn't matter to you if you overpaid. According to a real estate assessor, a Russian billionaire paid way too much for his California purchase. The real estate taxes for the property used...

Individual taxpayers in Sacramento no doubt have April 15 locked in their brains. Those who are self-employed also have June 15, Sep. 15 and Jan. 15 in their permanent memory banks. For those who have foreign or offshore bank accounts that earn interest, there is...

A few former employees of a company prepared a 32-page document for the Internal Revenue Service alleging that their former employer, Alliantgroup LP, helped its clients avoid taxes through false classification of salaries and other expenses under the tax deductible...

A standard movie that is critiqued in film school is "Chinatown." Beyond the superb acting, it depicts the California water wars that took place during the Owens River Valley land grab in the early 1900s. Water wars of a different nature are taking place in southern...

The Small Business Administration was asked to testify before a Congressional sub-committee this week. The Small Business Committee of the House of Representatives is looking into the potential impact upon small business of changes to the estate tax, which is set to...

In an earlier post, our San Francisco Bay area readers learned about the Internal Revenue Service's increased efforts for compliance regarding earnings in foreign bank accounts. In light of that, why would federal prosecutors drop charges against a San Francisco...

Hercules is a city in Contra Costa County on the southeastern shores of San Pablo Bay, California. According to the United States Census Bureau, the city has 24,060 people and within its city limits it is 65.87 percent water. The city may be all wet in more ways than...

Many of us in California have just finished sending in our personal income tax returns for 2011, but it isn't too early to plan ahead for the 2012 return according to knowledgeable sources. Planning ahead and making certain financial moves now may prevent you from...