Category Archives: State Tax

FTB can penalize you even if you fully pay your taxes

One of the wive’s tales about taxes is that you are due a refund you can file anytime you want. Be careful, that advice might cost you thousands of dollars. California has a law on its books that says if … Continue reading

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Want to tell the FTB you are a resident of Nevada? Its probably not going to work.

Getting enticed by those radio ads promoting Nevada corporations and becoming a Nevada resident so as to save on California taxes?  Its not going to be easy. Below I posted a recent Board of Equalization case where a guy: 1. … Continue reading

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Can the IRS take away your Social Security check?

Is social security exempt from an IRS levy or garnishment?  The short answer is no, the IRS is allowed to take away your social security if you fall behind on your payments to the IRS. The rules are laid out … Continue reading

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Franchise Tax Board Mission Creep

Been hiding out from the Franchise Tax Board or IRS? A few months back I posted about the FTB’s FIRM (Financial Institutions Records Match) program to track where you had your checking account.  Well, the program just expanded. Assembly Bill … Continue reading

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A 2nd chance with your IRS Audit, aka an audit reconsideration

What would you do if the IRS told you you owed them a few million dollars, and they were wrong?  Wouldn’t you spring a couple thousand dollars for some legal help? It appears the taxpayer, Mr. Seifert, in a recent … Continue reading

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The FTB knows all

A couple new laws were just implemented that really point out the extent to which the franchise tax board shares information with other agencies, cities, and yes, even Mexico. Take a look at the amendments to section 19551 of the … Continue reading

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Audit results on IRS audits

As a tax attorney working with people in La Quinta, Rancho Mirage, Palm Desert, Indian Wells, and well, pretty much all across the country, one of the major services I provide is helping people with IRS audits. Typically as the … Continue reading

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Thinking of Forming a Nevada Corporation?

Everyone has at least one friend who brags about forming a Nevada corporation so they can avoid California taxes and get better asset protection.  The challenge is that friend is wrong. How wrong?  California considers anyone who is doing business … Continue reading

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Yes, the IRS talks to the Franchise Tax Board

Afraid your IRS audit is going to be shared with the franchise tax board?  You should be.  Both tax agencies share information back and forth all the time.  If you get hit with an additional 20 or 30K in federal … Continue reading

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S corporations and Built in Gains Taxes

One of the problems of a C corporation is that if you don’t plan properly there can be two different layers of taxes on the corporations earnings. To get around the double taxation issue a number of people have been … Continue reading

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