Blogs

September 24, 2009 By Anthony Diosdi, Attorney at Law UBS has announced this week that will inform its American clients whether their bank account information will be disclosed to the United States Government. Recently UBS entered into an agreement with...

The Franchise Tax Board has defined several arguments that it has established as "frivolous," and said people using those arguments to avoid paying taxes could result in a penalty. The baseless arguments include contending that paying taxes...

More than 150 US customers of the Swiss bank UBS are being "criminally investigated" on suspicion of tax avoidance, court documents say. The suspects are accused of hiding income and assets to dodge US taxes. Last week the US government and...

Another IRS employee is in trouble, the third one this month alone. First, there was the case of Edith Squillace, an IRS "contact representative" indicted by a federal grand jury on charges that she tried to back out of repaying a loan by threatening...

The IRS has recently issued a special ruling explaining how victims of Ponzi scheme , such as the well publised Madoff scheme, can write off their losses. The IRS said that losses from Ponzi schemes are considered to be theft losses rather than capital...

The American Recovery and Reinvestment Tax Act of 2009 provides a refundable credit of up to $400 for working individuals and $800 for working families. The credit is calculated at 6.2% of of earned income, and phases out for taxpayers with modified adjusted...

Statute of Limitations regarding Individual Tax Refunds Federal: If you believe that you are due a tax refund from the Internal revenue service for tax year 2005, you have until April 15th, 2009, to file your 2005 tax return and still get a federal tax...

LLC’S COMPARED TO CORPORATIONS By Anthony Diosdi A C corporation is a separate taxpaying entity, which means it files a tax return and any earnings or profits distributed to its shareholders as dividends are subject to a second tax at the shareholder...