Contact Paul +

Time limit is exhausted. Please reload CAPTCHA.

Uncategorized

Obama: new tax rule will fight corruption, help economy

Obama: new tax rule will fight corruption, help economy

WASHINGTON (Reuters) – U.S. President Barack Obama said on Friday a long-delayed rule requiring the financial industry to identify the real owners of companies will help fight corruption and tax evasion and boost the economy. His administration on Friday issued the Customer Due Diligence rule in the works since 2012 and proposed legislation meant to […]

Read the full article →

Final regs revise method of computing adjusted federal rates

Final regs revise method of computing adjusted federal rates

T.D. 9763, 04/25/2016, Reg. § 1.382-12, Reg. § 1.1288-1 IRS has issued final regs that provide a new method to be used to adjust the applicable Federal rates (AFRs) under Code Sec. 1288 (adjusted AFRs) for tax-exempt obligations and to determine the long-term tax-exempt rate and the adjusted Federal long-term rate under Code Sec. 382. […]

Read the full article →

Washington Alert – Identity Theft Alert; Reconsider corporate inversions;Community Development Financial Institution (CDFI) Fund has announced two significant changes to allocations for the 2015 round of the New Markets Tax Credit (NMTC) Program

Washington Alert – Identity Theft Alert; Reconsider corporate inversions;Community Development Financial Institution (CDFI) Fund has announced two significant changes to allocations for the 2015 round of the New Markets Tax Credit (NMTC) Program

Businesses, as well as individual taxpayers, should keep in mind that information returns, especially Forms W-2, are becoming a major target of identity thieves, IRS Commissioner John Koskinen told the House Ways and Means Oversight Subcommittee on April 19. Identity thieves are continually seeking new sources of information that will help them file false returns […]

Read the full article →

IRS adds three countries to list of countries with which it exchanges certain tax data

IRS adds three countries to list of countries with which it exchanges certain tax data

Rev Proc 2016-18, 2016-16 IRB In a Revenue Procedure, IRS has updated the list of countries with which Treasury and IRS have determined that it is appropriate to have an automatic exchange relationship under Reg. § 1.6049-8(a) and Reg. § 1.6049-4(b)(5), which require the reporting of certain deposit interest aggregating $10 or more paid to […]

Read the full article →

IRS delays inherited property reporting until June 30

Notice 2016-27, 2016-15 IRB 1 In a Notice, IRS has again delayed the initial due date for providing statements to IRS and to beneficiaries, under the rules requiring consistent basis reporting for estate tax and income tax purposes, this time until June 30, 2016. Background. The executor or administrator of a decedent’s estate must file the estate […]

Read the full article →

Bits ’n Pieces – Fonseca defends law firm re ‘Panama Paper,’ Tax Code is confusing to nontraditional families, Tax Avoidance is lousy strategy, Corporate Tax dodge getting harder

Bits ’n Pieces – Fonseca defends law firm re ‘Panama Paper,’ Tax Code is confusing to nontraditional families, Tax Avoidance is lousy strategy, Corporate Tax dodge getting harder

* Co-Founder of Mossack Fonseca defends law firm at center of ‘Panama Papers’. By Kejal Vyas – The Wall Street Journal ($). Jürgen Mossack says the company at center of tax-shelter scrutiny won’t change its ways. Link to The Wall Street Journal, on.wsj.com/25NxmE3 * For nontraditional families, the tax code can be especially confusing. By Yuki […]

Read the full article →

Unresolved questions of fact surrounded purported alimony agreement including choice of law

Unresolved questions of fact surrounded purported alimony agreement including choice of law

Wolens v. U.S. (Ct Fed Cl 3/4/2016) 117 AFTR 2d ¶ 2016-484 The Court of Federal Claims denied both IRS’s motion to dismiss for failure to state a claim for which relief could be granted, and the taxpayer’s motion for summary judgment, in a refund suit. Although the taxpayer showed sufficient facts to plausibly allege […]

Read the full article →

Tax Court found taxpayer had no unreported income despite tax evasion conviction

Tax Court found taxpayer had no unreported income despite tax evasion conviction

Senyszyn, (2016) 146 TC No. 9 The Tax Court has concluded that a taxpayer who misappropriated funds from a business associate and failed to report the misappropriated funds as income had no unreported income for the year because he repaid to the associate amounts in excess of those that he took. Accordingly, it found that […]

Read the full article →

North Carolina Couple Indicted for Tax Fraud and Bank Fraud Related to Their Online Business

North Carolina Couple Indicted for Tax Fraud and Bank Fraud Related to Their Online Business

According to the Department of Justice Press Release: A federal grand jury in the Middle District of North Carolina returned an indictment March 1 charging a Greensboro, North Carolina couple, who operated an online sales business with tax fraud as well as bank and wire fraud, announced Acting Assistant Attorney General Caroline D. Ciraolo of […]

Read the full article →

Separate taxable income need not be set contemporaneously with transfer pricing adjustments

Separate taxable income need not be set contemporaneously with transfer pricing adjustments

Guidant LLC f.k.a. Guidant Corporation & Subsidiaries, (2016) 146 TC No. 5 In consolidated cases, the Tax Court, denying taxpayers’ summary judgment motion, has concluded that, when making transfer pricing adjustments under Code Sec. 482, IRS isn’t required, contemporaneously with such adjustments, to determine the true separate taxable income (STI) of each controlled taxpayer in […]

Read the full article →

Bits ’n Pieces – NY Zoning change, Cruz’ Tax Plan, UK adds soda tax, investors secure in Chicago Public Schools bonds

Bits ’n Pieces – NY Zoning change, Cruz’ Tax Plan, UK adds soda tax, investors secure in Chicago Public Schools bonds

* End of tax break program may blunt impact of New York zoning change. By William Neuman – The New York Times. When the city council announced that it had reached a deal on a sweeping zoning reform, the agreement was hailed as a linchpin to achieving Mayor Bill de Blasio’s goal of building 80,000 […]

Read the full article →

Treasury releases revised draft of U.S. Model Treaty

Treasury releases revised draft of U.S. Model Treaty

Treasury Department, “Preamble to 2016 U.S. Model Income Tax Convention” (Feb. 17, 2016). Treasury Department, “United States Model Income Tax Convention” (Feb. 17, 2016). The Treasury Department (Treasury) has recently released a revised draft of the U.S. Model Income Tax Convention (U.S. Model Treaty), which is the baseline text used when the U.S. negotiates tax […]

Read the full article →

FINRA’s Rules for Crowdfunding Portals Approved

FINRA’s Rules for Crowdfunding Portals Approved

The SEC has issued an order granting accelerated approval to the Financial Industry Regulatory Authority’s (FINRA) rules for crowdfunding portals. The portals will act as online intermediaries between start-ups and groups of investors, part of the crowdfunding mandates of the JOBS Act. The SEC granted accelerated approval to the Financial Industry Regulatory Authority’s (FINRA) rules […]

Read the full article →

Relief for 529 plans whose 2015 information returns don’t reflect Path Act change

Relief for 529 plans whose 2015 information returns don’t reflect Path Act change

Notice 2016-13, 2016-7 IRB In a Notice, IRS has provided transition relief for section 529 qualified tuition programs that timely file 2015 Forms 1099-Q, Payments From Qualified Education Programs (Under Sections 529 and 530), that do not reflect the repeal, by the Protecting Americans from Tax Hikes Act of 2015 (the PATH Act), of the […]

Read the full article →

Hong Kong Accounting Firm’s Registration Is Revoked

Hong Kong Accounting Firm’s Registration Is Revoked

The PCAOB revoked the registration of PKF HK, an audit firm in Hong Kong, for failing to cooperate with the board’s investigations of its audits of a U.S.-listed company based in China. The latest move also comes at a time when the PCAOB has so far been unable to come to an agreement with Chinese […]

Read the full article →

Google to face grilling by UK lawmakers over tax deal

Google to face grilling by UK lawmakers over tax deal

LONDON (Reuters) – A British parliamentary committee will ask Google to testify about a back tax deal under which it will pay 130 million pounds ($185 million) to settle claims covering a 10-year period — an amount the opposition Labour party has described as derisory. Meg Hillier, the Labour party chairwoman of parliament’s Public Accounts […]

Read the full article →

For the Wealthiest, a Private Tax System That Saves Them Billions

For the Wealthiest, a Private Tax System That Saves Them Billions

As reported in the NY Times, the very richest are able to quietly shape tax policy that will allow them to shield billions in income. WASHINGTON — The hedge fund magnates Daniel S. Loeb, Louis Moore Bacon and Steven A. Cohen have much in common. They have managed billions of dollars in capital, earning vast […]

Read the full article →

Bits ’n Pieces – NYC developers; no state windfall from Powerball; Paulson reinsurance; India’s sales tax; Venture capitalists versus economists

Bits ’n Pieces – NYC developers; no state windfall from Powerball; Paulson reinsurance; India’s sales tax; Venture capitalists versus economists

* Talks to save NYC developers’ tax exemption aren’t going anywhere. By Josh Barbanel – The Wall Street Journal. The program is a linchpin of Mayor Bill de Blasio’s efforts to build more affordable apartments and, by extension, critical to his broader campaign against income inequality. Link to The Wall Street Journal, on.wsj.com/1SktWUb * No state […]

Read the full article →

U.S. taxpayer due to subsidize Koch-controlled coal mine

U.S. taxpayer due to subsidize Koch-controlled coal mine

WASHINGTON (Reuters) – The Obama administration is set to refund as much as $14 million in royalties to a coal company run by billionaire investor William Koch that says it is entitled to the money since the now-shut mine on federal land was costly to operate. The Interior Department recommended the payout in a December […]

Read the full article →

Behavioral economics wins $1.5 bln U.S. lottery

Behavioral economics wins $1.5 bln U.S. lottery

NEW YORK (Reuters Breakingviews) – One lucky American could be at least $1.5 billion richer by the time Wednesday ends. The biggest-ever lottery jackpot that could go to a single ticket-holder hangs in the balance. Its size is no mathematical fluke. State officials helped engineer the Powerball frenzy by tapping into the sorts of behavioral […]

Read the full article →
Page 1 of 8123...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