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U.S. News and Best Lawyers Release 2021 “Best Law Firms” Awards

November 11, 2020

On November 5th, 2020 the U.S. News & World Report and Best Lawyers® collaboratively announced the release of the “Best Law Firms” rankings. These firms are recognized for professional excellence with consistently impressive ratings from clients and peers. Only law firms with at least one lawyer recognized in The Best Lawyers in America© are eligible for a ranking. We are excited to announce that the Law Offices of A. Lavar Taylor have been included in this group of prestigious law firms.

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Was an IRS Penalty Correctly Imposed Against You or Your Client?

November 6, 2020

Section 6751(b)(1) provides that accuracy related penalties imposed by the IRS must have written approval from the immediate supervisor of the IRS employee making the “initial determination” to impose that penalty. But what exactly constitutes the initial determination? Is the initial determination made when the IRS internally decides the assessment of a penalty is appropriate?

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Taxpayers filing returns with Section 199A deductions—more likely to incur accuracy-related penalties under Section 6662

November 6, 2020

In 2017 and through the Tax and Jobs Act of 2017, Congress enacted a new section of the Internal Revenue Code that greatly benefits certain business owners. Internal Revenue Code Section 199A provides eligibility to certain taxpayers, to deduct up to 20% of qualified business income (“QBI”) from a domestic business operated as a sole proprietorship, partnership, S corporation, or trust or estate for taxable years, beginning after December 31, 2017.

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Battening Down the Tax Hatches for the Coming Economic Storm:

November 5, 2020

Please join our very own A. Lavar Taylor on Thursday, November 12, 2020 at 12:00 pm for a speaking presentation hosted by The Orange County Bankruptcy Forum. For this Zoom meeting you will learn taxpayer tips and strategies for large and small business owners. We encourage you to register online soon as the event will fill quickly.

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California Franchise Tax Board Penalties 101

November 4, 2020

When the California Franchise Tax Board conducts a state tax audit, the Franchise Tax Board looks to impose an additional tax liability upon the taxpayer. In addition, state tax liabilities may result from piggy-backing federal tax assessments imposed by the Internal Revenue Service. In this article, Rami M. Khoury, Attorney at Law Offices of A. Lavar Taylor, explores why taxpayers should be especially wary of penalties that are often imposed, and that may be able to be reduced or averted, with the right tax counsel.

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