Brunoro Law Blog

Sunday, June 18, 2017

What to Do If You’re Faced With an IRS Tax Lien

It’s tough to see a positive side to receiving a federal tax lien. The sight of the official IRS envelope among your daily mail may be enough to fill you with dread.

Fortunately, the federal government uses a defined process to file a lien and to resolve one. At each step of the process, you have legal rights. Working with an experienced California Read more . . .

Friday, June 9, 2017

I Missed the April Tax Deadline, What Should I Do?

What are the penalties for missing the April tax deadline?

So the April tax deadline came and went, and you failed to file on time.  Now what?  While missing the tax filing deadline can have potentially serious consequences, the good news is that usually you can remedy your failure to file with limited penalties.  Our San Diego, California tax collections lawyers discuss what penalties you could face if you miss the April tax deadline and what to do to remedy your default.

Read more . . .

Sunday, May 21, 2017

California Income Tax Explained

How much will I pay in income taxes this year in California?

Californians pay some of the highest taxes in the country.  The income tax rate in California ranges from 1 percent to a whopping 13.3 percent, depending on which of the nine tax brackets you fall into.  All Californians should have a basic understanding of the income tax system so that you know what you will pay in taxes in the coming year.  Our

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Saturday, May 13, 2017

What is an Offer in Compromise?

Being saddled with a significant tax debt is a pretty stressful situation to be in.  For some, the IRS concept of offers in compromise, which emerged in 2012 with the Fresh Start program, is a lifeline to better financial health. With an offer in compromise, the IRS is able to compromise tax debt more easily with taxpayers who struggle to pay what they owe.  There are some drawbacks though, so if you are having trouble paying your tax debt, consider talking to an Read more . . .

Tuesday, May 9, 2017

Top 3 Tax Planning Tips for 2017

It’s never too early to start considering your tax implications for next year. To maximize your income, we’ve compiled a list of the best tax planning tips for 2017 that a tax-planning lawyer would be likely to recommend to you. Consider the options below, and get your tax-planning ready early for 2017.
Read more . . .

Monday, April 24, 2017

Your Income Taxes in California Could Go Up Under Trump

How might my taxes be affected by the new president and his administration?

President Trump entered office on promises to reduce income taxes for Americans, but many Californians have good reason to fear that their income taxes may in fact increase.  As Republicans have stalled over the repeal of the Affordable Care Act, President Trump and Congress are pushing forward with a major tax overhaul.  California, with its large percentage of high-income taxpayers, has much at stake if tax reforms pass.  Our

Read more . . .

Wednesday, April 19, 2017

Seriously Delinquent on Your Taxes? Prepare to Be Grounded.

Seriously Delinquent on Your Taxes? Prepare to Be Grounded.

As this year’s tax deadline approaches, some may be dreading the prospect of paying taxes that are coming due. Perhaps this year’s debt will only be compounding an already significant mountain of tax debt. Before you make the decision not to pay, understand that the IRS can be relentless when it comes to collecting on tax debt. Any Read more . . .

Saturday, April 15, 2017

5 Things You Need to Know About the FBAR

In recent years, the IRS has become more aggressive about pursuing U.S. citizens who fail to report foreign holdings.  If you hold money in foreign bank accounts, or hold signature authority in a foreign bank account, you must file a Foreign Bank Account Report (FBAR) with the IRS every year or face significant penalties.

Consulting with an experienced Read more . . .

Monday, March 27, 2017

Tax Duties of US Citizens and Resident Aliens Living Abroad

Filing 2016 returns

If you are a U.S. citizen or resident alien (green card holder) residing outside the U.S. you are still required to file and pay taxes in the US.

Read more . . .

Monday, March 20, 2017

Tips to Avoid an Audit

What steps can I take to avoid being audited?

The thought of an audit summons fear in any taxpayer.  The reality is that your potential for being audited is slim. With a personnel and funding shortage, the IRS audited just .70% of all individual tax returns in 2016.  Nonetheless, there are certain red flags that will greatly increase your chance of being subjected to a dreaded audit.
Read more . . .

Wednesday, March 15, 2017

Anatomy of a Tax Audit

If you are a business owner, navigating United States tax law can be a formidable task. The collection of rules and regulations which make up the US tax code is almost 4 million words long. In 2011, approximately 1.11% of tax returns were audited. The IRS often recovers billions of dollars in total via audits of large corporations.
Read more . . .

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