Contact Paul +

Time limit is exhausted. Please reload CAPTCHA.

Tax Returns

IRS – Tips for Those Who Missed the Tax Deadline

IRS – Tips for Those Who Missed the Tax Deadline

Tips for Those Who Missed the Tax Deadline Monday, April 18, was the tax deadline for most people in 2016. If you didn’t file a tax return or an extension to file but should have, take action now. If you missed the tax filing deadline: File and pay soon. If you owe taxes, you should file […]

Read the full article →

IRS Offers New Cash Payment Option

IRS Offers New Cash Payment Option

IRS Offers New Cash Payment Option WASHINGTON — The Internal Revenue Service announced today a new payment option for individual taxpayers who need to pay their taxes with cash. In partnership with ACI Worldwide’s OfficialPayments.com and the PayNearMe Company, individuals can now make a payment without the need of a bank account or credit card […]

Read the full article →

Tax Tip – Can’t Pay Taxes On Time? Don’t Panic – – Here Are Five Tips

Tax Tip – Can’t Pay Taxes On Time? Don’t Panic – – Here Are Five Tips

Can’t Pay Taxes On Time? Here Are Five Tips from the IRS The IRS urges you to file on time even if you can’t pay what you owe. This saves you from potentially paying a penalty for a late filed return. Here is what to do if you can’t pay all your taxes by the […]

Read the full article →

Reminder: 2015 return due date is April 18 or 19, not April 15

Reminder: 2015 return due date is April 18 or 19, not April 15

Reminder: as originally announced by IRS in May 2015, in Rev Rul 2015-13, 2015-22 IRB and the press release that accompanied it, the due date for returns for which the due date would otherwise be Apr. 15, 2016 will instead be Apr. 18, 2016 or Apr. 19, 2016. In the press release that accompanies Rev […]

Read the full article →

Tax Tip – – Need More Time to File Your Taxes?

Tax Tip – – Need More Time to File Your Taxes?

Need More Time to File Your Taxes? Per IRS: The April 18 tax deadline is coming up. If you need more time to file your taxes, you can get an automatic six-month extension from the IRS. Here are five things to know about filing an extension: 1. Use IRS Free File to file an extension. You […]

Read the full article →

IRS Offers 10 Tax-Time Tips

IRS Offers 10 Tax-Time Tips

IRS Offers 10 Tax-Time Tips The April 18 deadline to file your federal tax return is less than two weeks away. Don’t wait until the last minute. If you haven’t filed yet, the IRS has these 10 tax-time tips to help you. 1. Gather your records.  Make sure you have all your tax records. This includes […]

Read the full article →

Why we no longer fear the IRS

Why we no longer fear the IRS

Note:  the below newspaper article is the opinion of the author and not my opinion.  The point I believe the author is trying to make is that the IRS needs more staffing to conduct audits-examinations and carry out their overall function; and I wholeheartedly agree to that extent.  However, to the extent the article implies […]

Read the full article →

Reporting Foreign Income: Eight Tax Tips from the IRS

Reporting Foreign Income: Eight Tax Tips from the IRS

Reporting Foreign Income: Eight Tax Tips from the IRS Did you receive income from a foreign source in 2015? Are you a U.S. citizen or resident who worked abroad last year? If you answered ‘yes’ to either of those questions, here are eight tips to keep in mind about foreign income: 1. Report Worldwide Income. By law, […]

Read the full article →

Reminder: Mar. 31 is deadline for many inherited property basis returns

Reminder: Mar. 31 is deadline for many inherited property basis returns

The due date for filing returns with IRS and providing statements to beneficiaries under the rules requiring consistent basis reporting for inherited property for estate tax and income tax purposes, where the estate tax return of the decedent was filed after July 31, 2015, is Mar. 31, 2016, except with respect to decedents that died very […]

Read the full article →

Intuit swings to profit on strong demand for tax preparation software

Intuit swings to profit on strong demand for tax preparation software

(Reuters) – Tax-preparation software maker Intuit Inc swung to a second-quarter profit, helped by demand for its online tax preparation software, TurboTax, in the lead up to the U.S. tax season. The company posted net income from continuing operations of $29 million, or 11 cents per share, in the quarter ended Jan. 31, compared with […]

Read the full article →

IRS provides inflation adjustments in light of recent Path Act changes

IRS provides inflation adjustments in light of recent Path Act changes

Rev Proc 2016-14, 2016-9 IRB In a Revenue Procedure, IRS has provided the 2016 figures for certain items that were made subject to annual inflation adjustments by the Protecting Americans from Tax Hikes (PATH) Act of 2015 (P.L. 114-113, 12/18/2015). IRS also modified the monthly excludible amounts for employer-provided transportation in a commuter highway vehicle […]

Read the full article →

Revised form instructions reflect “windfall” business credits for 2015

Revised form instructions reflect “windfall” business credits for 2015

The Protecting Americans from Tax Hikes (PATH) Act of 2015 (P.L. 114-113, 12/18/2015) contains a fair number of “windfall” business tax breaks for 2015—i.e., tax breaks available on the 2015 return even though they were off the books when the events triggering the breaks occurred. Three of these breaks are highlighted in recently updated 2015 […]

Read the full article →

New form sets out rules for reporting basis of decedent-owned property

New form sets out rules for reporting basis of decedent-owned property

Form 8971, Information Regarding Beneficiaries Acquiring Property From a Decedent (January 2016). IRS has released the final version of new Form 8971, which, pursuant to legislation enacted in 2015, must be used to report the final estate tax value of property distributed or to be distributed from an estate, if the estate filed a Federal […]

Read the full article →

‘Sharing economy’ can complicate U.S. tax filings

‘Sharing economy’ can complicate U.S. tax filings

NEW YORK (Reuters) – Uncle Sam is waiting for his cut from American taxpayers, including those who participate in the so-called sharing economy – doing side gigs like renting out their apartments, driving for Uber or running random errands for strangers on TaskRabbit.com. According to a recent data, Intuit Inc, the owner of the TurboTax […]

Read the full article →

Washington Alert – PTIN expiration notices sent; GAO faults IRS phone service; Return preparers and EITC warning; FINCEN and insurance companies

Washington Alert – PTIN expiration notices sent; GAO faults IRS phone service; Return preparers and EITC warning; FINCEN and insurance companies

IRS announced on Jan. 22 that the Return Preparer Office has started mailing Preparer Tax Identification Number (PTIN) expiration notices to tax preparers who have not renewed their PTIN for 2016. (e-News for Tax Professionals 2016-3) According to the agency, some 150,000 such notices will be sent. The notice informs recipients that their PTIN can […]

Read the full article →

Affordable Care Act information reporting deadlines are extended

Affordable Care Act information reporting deadlines are extended

Notice 2016-4, 2016-3 IRB In a Notice, IRS had extended the due dates for the 2015 information reporting requirements under the Affordable Care Act (ACA)—both furnishing to individuals and filing with IRS—for insurers, self-insuring employers, and certain other providers of minimum essential coverage under Code Sec. 6055, and the information reporting requirements for applicable large […]

Read the full article →

IRS Administrative & Tax Court Provisions in the “Protecting Americans from Tax Hikes” Act

IRS Administrative & Tax Court Provisions in the “Protecting Americans from Tax Hikes” Act

The “Protecting Americans from Tax Hikes (PATH) Act of 2015” Joint Committee on Taxation’s JCX-144-15, Technical Explanation of the “Protecting Americans from Tax Hikes (PATH) Act of 2015” Summary of the PATH Act. On December 17, the House passed a bipartisan, bicameral agreement on tax extenders—i.e., the 50 or so temporary tax provisions that are […]

Read the full article →

Business Tax Breaks in the “Protecting Americans From Tax Hikes” Act

Business Tax Breaks in the “Protecting Americans From Tax Hikes” Act

On December 18, Congress passed and the President signed into law a bipartisan, bicameral agreement on tax extenders—i.e., the 50 or so temporary tax provisions that are routinely extended by Congress on a one- or two-year basis—and numerous other tax provisions in the “Protecting Americans from Tax Hikes (PATH) Act of 2015” (the Act). The […]

Read the full article →

Tax Season Begins on January 19, 2016; Last day to file tax return, without extension, is April 18, 2016

Tax Season Begins on January 19, 2016; Last day to file tax return, without extension, is April 18, 2016

IR 2015-139 Despite the last minute, year-end tax extender legislation signed into law last week—which retroactively extended 50 or so “extender” provisions, modifying or making many permanent (or both) and added a number of non-extender provisions—IRS announced that tax season will begin as scheduled on Tuesday, Jan. 19, 2016. Background. On December 18, Congress passed and the […]

Read the full article →

Business Tax Breaks Retroactively Extended by the Protecting Americans From Tax Hikes Act

Business Tax Breaks Retroactively Extended by the Protecting Americans From Tax Hikes Act

Late on December 15, a bipartisan, bicameral agreement was reached on tax extenders—i.e., the 50 or so temporary tax provisions that are routinely extended by Congress on a one- or two-year basis—and numerous other tax provisions in the “Protecting Americans from Tax Hikes (PATH) Act of 2015” (the Act). As explained below, the Act retroactively […]

Read the full article →
Page 1 of 11123...10...Last »
Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

Read More

Connect With Paul on Social Media

Practice Areas & Information

Certifications &
Associations
Member CA Bar Member Orange County Bar US Tax Court Attorney