Brunoro Law Blog

Friday, August 18, 2017

Navigating the Offer in Compromise - Avoid Tax Resolution Firm Scams


If you’ve ever turned on a radio or TV, you’ve probably heard advertisements for tax resolution firms.  Typically these ads will feature an attorney or his spokesman telling you all about how his firm has saved clients millions of dollars by settling their tax debts with the IRS for pennies on the dollar.  If you think this sounds too good to be true, you’re right!  Many of these companies aren’t what they promise they are and lots have been called “scams.”  One high-profile example is the JK Harris Company, which was sued into bankruptcy by the attorneys general for nearly half the states for deceptive advertising and business practices.  If you have a tax situation that needs to be resolved, it’s important to watch out for certain ‘red flags’ when selecting a firm to assist you.
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Monday, August 14, 2017

Thanks, Congress. Wealthy investors hold off on estate tax planning


What Does This Mean For Estate Tax Planning For the Remainder of the Year?

Although President Trump has taken to Twitter to implore congressional Republicans to continue the “Repeal and Replace” efforts, the general consensus seems to be that such efforts would be futile, and that Congress is moving on towards considering tax reform.  However, as CNBC reports, the two issues are inherently linked, as the original plan to repeal the Affordable Care Act (“Obamacare”) included a variety of tax benefits to wealthy Americans.
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Monday, August 7, 2017

New Tax Collection and Appeals Policies in Effect in California


In June, the California legislature passed the Taxpayer Transparency and Fairness Act of 2017 which dramatically altered the landscape for sales, use, personal and corporate-level taxes.
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Tuesday, July 25, 2017

Steve Bannon reportedly wants to hike taxes on the richest Americans


What Will This Plan Mean For Your Tax Bracket?

Business Insider’s Bob Bryan reports that Steve Bannon is pushing the Trump Administration to increase taxes for the highest-income Americans. With the Administration promising the "biggest tax cut in history,” those at the top might be sensing some mixed signals.  The confusion is coming from a dispute among President Trump’s advisors, and understanding the details is critical for wealthy Americans to protect their assets and engage in meaningful


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Saturday, July 22, 2017

OECD Issues Report on Tax Transparency at G20 Summit


What are the OECD’s common reporting standards?

While much of the media attention of the recent G20 Summit in Hamburg focused on President Trump’s meeting with Russian President Vladimir Putin, and the throngs of anti-capitalist protesters, the Organization of Economic Cooperation and Development (OECD) issued a report to the member nations on its efforts to bolster international cooperation on tax issues. In short, the OECD reported that there have been vast improvements on tax transparency.
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Sunday, July 16, 2017

Trump’s Tax Reform Plan Could Benefit Small Businesses


What should small business owners know about Trump’s tax reform plans?

President Trump ran on a platform of strengthening small businesses across the nation.  Small business owners everywhere are anxiously awaiting reforms that benefit them, and soon tax reforms could provide the relief they need.  In May, Trump released an outline of proposed tax changes.  These alterations could include a decrease in the individual income tax rate and a decline in the business tax rate from 35 percent to just 15 percent, which may include pass-through entities.  Our


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Tuesday, July 11, 2017

My spouse may have committed fraud when filing our taxes. What is Innocent Spouse Relief, and will I qualify for it?


Let’s face it: filing taxes is a complicated endeavor and sometimes, mistakes get made.  But sometimes “mistakes” are made on purpose, and if you’re married to the person making the mistakes you might find yourself in the middle of a tax fraud case.  Innocent Spouse Relief is one way the court can let a marital partner “off the hook” if they weren’t a part of the alleged tax fraud.
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Friday, June 30, 2017

Brazil’s President Charged in Bribery Scandal


What are the consequences of political corruption in the Brazilian government?

Brazilian President Michel Temer has been charged with taking multimillion-dollar bribes stemming from a scheme involving the world's largest meatpacker, JBS SA. Temer replaced impeached President Dilma Rousseff just over a year ago, but scandals continue to shake the country’s political and business  establishment.

In previous plea bargain arrangements, JBS executives claimed the president took bribes for resolving tax matters, orchestrating loans from state-run banks and other matters. In submitting the charge to the Supreme Court, federal prosecutor Rodrigo Janot said, "he fooled Brazilian citizens" that he owed the nation millions in compensation for accepting bribes.

Under Brazilian law, lawmakers must now vote on whether the president should face a trial.
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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.


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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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