As we enter the fall election cycle, California and the rest of the nation is talking about the economy, employment and taxes. Recently the Treasury Department released information that affects all three of those contentious topics.
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 man?
Married couples usually file a joint tax return, and in most marriages one spouse takes charge of the activity, even though both are responsible for the information on the return. When a couple divorces, and neither is re-married, one of them will typically file as a single person and the other as the head of household.
Many in Alameda are breathing a sigh of relief now that tax day is behind us. For some, the refunds will be processed shortly. For others, their tax payments are about to clear. For yet others, they may get a notice to provide additional information.
Any California history buff will know that it was tax evasion and the Internal Revenue Service that finally put Al Capone behind bars. The IRS was also involved recently in an effort to allegedly shut down a medical marijuana operation in Oakland, California.