Category Archives: Talking Taxes

On September 2, 2022, the IRS announced the accidental release of around 120,000 taxpayers’ confidential information. The breach occurred regarding information found on IRS Form 990-T. Tax-exempt entities use this form to file income taxes on income earned from investments unrelated to their exempt classification. What Happened? On August 26, 2022, the IRS discovered the […]

Last week, ProPublica dropped a billionaire bombshell revealing that America’s ultra-wealthy have a true federal income tax rate of only 3.4%.

Just a decade ago the concept of a “marijuana tax attorney” would be unthinkable. Today, with things changing so dramatically and rapidly many dispensary owners and cannabis professionals are wondering how to meet their tax obligation in good faith… without paying more than is necessary. The current tax landscape with pitfalls around every corner make […]

The IRS is a powerful debt collector, to say the least. They have the entire mechanism of the government’s resources at their disposal, and they will utilize it to ensure that they are able to collect unpaid taxes. Although the IRS is incredibly aggressive, the system is inherently fair, because there are plenty of potential […]

It’s a simple fact of life that business is becoming increasingly global. For American citizens earning income or living abroad, it can be a huge wake up call to learn that the United States taxes based on earnings, not on physical location. As a result, well-intentioned people get into sticky — and potentially disastrous — […]

If you have foreign assets and/or accounts, you need to be aware of reporting requirements under the Foreign Account Tax Compliance Act (FATCA).

Looking to take advantage of the Foreign Earned Income Exclusion? Learn more about how this exclusion can benefit those earning income abroad!

Marriage and finances are absolutely intertwined, which can lead to some shocking revelations of tax liability when one partner is left in the dark. That’s why the IRS offers the “Innocent Spouse” program.

Harborside Health Center, a marijuana dispensary in Oakland CA, has found itself on the losing side of a Tax Court challenge this month.

Even out-of-state sellers will need to comply with CDTFA’s new guidelines on California use taxes, beginning next spring.