North Bay Business Journal

  • IRS clarifies ruling on tax-deductible donations

    August 1st, 2011

    The Internal Revenue Service recently issued guidance that clarifies the extent to which grantors, donors and contributors can rely on IRS databases and other publications to confirm an exempt organization’s tax status for purposes of deducting contributions or making grants.

  • IRS extends some foreign account deadlines

    June 27th, 2011

    WASHINGTON — Foreign bank account holders with no financial interest have been given a year extension in filing the required paperwork with the Treasury and Internal Revenue System.

  • Accounting: 1099 rule is repealed; CPA group honors BPM associate

    April 18th, 2011

    The U.S. Senate has voted 87-12 to repeal the new 1099 tax provision reporting requirement that was part of health care reform, which mandated that starting in 2012 all businesses must file a form 1099 when paying any business or individual $600 or more for goods or services. … The California Society of CPAs’ San Francisco Chapter awarded The Young & Emerging Professional of the Year Award to Ethan Lee, certified public accountant in the consulting practice of Burr Pilger Mayer’s Santa Rosa office.

  • Guest Contributor: Clarified IRS instructions to help nonprofits prepare for Nov. 15 filing

    November 1st, 2010

    The IRS substantially redesigned Form 990, Return of Organization Exempt from Income Tax, beginning with tax year 2008. After the 2008 filing season, the IRS has expanded and clarified the instructions and reporting requirements.

  • Experts see rise in inquiries on offshore accounts

    August 16th, 2010

    NORTH BAY – Tax attorneys and planners are being inundated by inquiries from clients with what they believed were perfectly innocent offshore accounts as the federal government seeks to crack down on intentional tax evasion.

  • Real Estate: After veto, governor asks lawmakers for new mortgage tax relief measure

    April 5th, 2010

    Because of a bill vetoed last week by Gov. Arnold Schwarzenegger, California homeowners who sell short will have to pay taxes on forgiven mortgage debt.

  • Wine industry, IRS closer on LIFO compromise

    September 21st, 2009

    NORTH BAY – An IRS audit sweep on winery inventory accounting methods in Napa and Sonoma counties may not bring as much financial impact as had been feared when it began earlier this year, following recent meetings with winery accountants.

  • Estate-tax audits by IRS may increase

    January 12th, 2009

    NORTH BAY – With the increase in the estate-tax exemption to $3.5 million this year, fewer filings are expected due to fewer people being subject to the tax.

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