Tax Advisory

Eleventh-hour votes in Congress in December renewed a package of tax extenders for 2014, created new savings accounts for individuals with disabilities, cut the IRS’ budget, and more. At the same [...]

Beginning January 1, 2014, the Affordable Care Act (ACA) required individuals to carry minimum essential health coverage or make a shared responsibility payment, unless exempt. Individuals will [...]

The IRS recently issued a long list of cost of living adjustments (COLAs) for various Tax Code provisions related to retirement savings. These COLAs are for the 2015 tax year and are dependent [...]

Governor Brown signed a new bill into law on September 16, 2014 that authorizes a College Access Tax Credit for approved contributions to the College Access Tax Fund (“the Fund”) in 2014 through [...]

Before the fast-approaching new year, it’s important to take some time and reflect on year-end tax planning. The weeks pass quickly and the arrival of January 1, 2015 will close the doors to some [...]

The IRS has issued updated guidance (Rev. Proc. 2014-54) that grants automatic consent to taxpayers to change their methods of accounting to comply with final “repair” regulations on dispositions [...]

Since 2009, the IRS has operated an Offshore Voluntary Disclosure Program (OVDP) for U.S. taxpayers who have failed to disclose foreign assets or report foreign income from those assets to the [...]

In Marchof this year the Bay Area Air Quality Management District (“Air District”) and the Metropolitan Transportation Commission (“MTC”) approved a program requiring employers with 50 or more [...]

The 2014 filing season opened on January 31 and the IRS’s new Commissioner has emphasized that the agency is focused on making it run smoothly. The agency expects to process more than 140 million [...]

Recently-released statistics from the IRS show a drop in audits among all income groups for fiscal year (FY) 2013 with the overall individual audit coverage rate at its lowest level since FY [...]