When it comes to the IRS or California Franchise Tax Board (FTB) audits, two related areas are common targets: business deductions for taxpayers with a Schedule C business, and Unreimbursed Employee Business Expenses taken on Form 2106. These areas have been a common target because these areas are definitely subject to abuse by taxpayers, and […]
IRS To Begin Using Private Debt Collectors In Early 2017
Starting in Spring of 2017, US taxpayers will begin receiving letters from the Internal Revenue Service notifying them that their “outstanding inactive tax” debt has been reassigned to one of the four (4) following Private Collection Agencies (PCA): ConServe 200 CrossKeys Office Park Fairport, NY 14450. Pioneer 325 Daniel Zenker Drive Horseheads, NY 14845 Performant […]
Legislative Watch: 2017 May Be A Great Year to Become a Homeowner in California
Less than one month into 2017, and there are already signs that this year may be a great year to become a homeowner. In California, there is an Assembly Bill (AB-198) that has been proposed and will be discussed in the coming months that will allow “first-time home buyers” to deduct certain amounts they expend […]