Law Offices of Connie Yi, PC
Tell Us About Your Case
888-312-6978

For the safety of our community, clients and staff, we have suspended all in-person meeting effective March 17, 2020. All consultation meetings will be via Phone or Zoom Video Conferencing. Please contact us at (925) 484-0888 or email us directly at [email protected] to schedule the consultation.

View Our Practice Areas

Posts tagged "IRS"

Lawsuit: IRS data breach could affect more than 500,000

Twenty-five years ago, the IRS e-file system became operational nationwide. For the most part, it's been a secure system that protects taxpayers' information, but there have certainly been some bungles -- the latest being the subject of a lawsuit recently filed against the IRS and IRS Commissioner John A. Koskinen.

A basic understanding of business expense deductions: Part II

In our last post, we began a discussion about business expense deductions. If you're a small business owner, you may have struggled with this issue in the past (or are struggling with it right now). Perhaps the most confusing deductions are those involving expenses and property that are put to both business use and personal use.

A basic understanding of business expense deductions: Part I

If you own a business or are trying to start one, you have probably realized the legal regulations that business owners must abide by are often complex and confusing. Tax compliance alone is complicated enough to make you rethink your decision to be an entrepreneur.

Asset forfeiture case stands as example for business owners

Thanks to media coverage over the last few months, civil asset forfeiture is no longer an unknown term. Many Americans are now aware of this process by which government agencies are allowed to seize assets from an individual even if they are never charged with committing a crime.

After Obergefell: Congratulations on your new tax status!

California's same-sex married couples have enjoyed the privileges and responsibilities of legal marriage for a couple of years. With the ruling in Obergefell v. Hodges, the U.S. Supreme Court has now extended those rights to GLBT couples in every state. These couples will now have the often frustrating task of navigating state tax and probate laws as legal spouses. Yes, now the state and the federal government recognize the marriage, so filing the annual tax return will be a little easier, but estate and tax planning strategies will have to be reviewed and updated accordingly.

IRS adds to list of non-U.S. banks that trigger 50 percent penalty

When it comes to disclosing your offshore bank accounts to the IRS, waiting is a bad idea. In June 2014, changes to the IRS's Offshore Voluntary Disclosure Program raised the penalty for having offshore assets that the IRS discovers without your voluntary disclosure.

If FATCA and FBAR regs combined, would the new regs be FATBAR? p2

We are talking about the Taxpayer Advocate Service's recommendations to simplify reporting under the Foreign Account Tax Compliance Act. The TAS is an independent agency -- helmed by the National Taxpayer Advocate -- that monitors the activities of the IRS. The recommendations in this case came about with the help of American Citizens Abroad and other organizations that look after the interests of U.S. citizens living in foreign countries.

If FATCA and FBAR regs combined, would the new regs be FATBAR?

Since the implementation of reporting rules under the Foreign Account Tax Compliance Act, U.S. citizens living in foreign countries have found that some foreign banks are less than enthusiastic about taking them on as customers. It goes further than just refusing to do business with expatriates: Some banks have closed existing accounts. And it's all because of FATCA's onerous reporting requirements.

Contact Us

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Email Us For A Response

Office Locations

Law Offices of Connie Yi, PC
323 Ray Street
Pleasanton, CA 94566

Phone: 925-484-0888
Pleasanton Law Office Map

Cupertino
19925 Stevens Creek Blvd
Suite 100
Cupertino, CA 95014

Toll Free: 888-312-6978
Map & Directions

San Francisco
490 Post Street, Suite 508
San Francisco, CA 94102

Toll Free: 888-312-6978
Phone: 415-433-3350
Map & Directions