Curious What Countries Are Sharing Banking Information with the USA?

The IRS has just issued a list of the countries with which the United States has in effect an income tax or other convention or bilateral agreement relating to the exchange of information.   The United States agrees to provide, as well as receive, information and under which the competent authority is the Secretary of the Treasury or his delegate.  The exchange of information includes the reporting of certain deposit interest paid to nonresident alien individuals on or after January 1, 2013.

To see the list of countries click here:  LIST OF COUNTRIES.

Contact Joseph P. Wilson of the Wilson Tax Law Group at 714-463-4430 if you should have any questions.

Curious What Countries Are Sharing Banking Information with the USA?

The IRS has just issued a list of the countries with which the United States has in effect an income tax or other convention or bilateral agreement relating to the exchange of information.   The United States agrees to provide, as well as receive, information and under which the competent authority is the Secretary of the Treasury or his delegate.  The exchange of information includes the reporting of certain deposit interest paid to nonresident alien individuals on or after January 1, 2013.

To see the list of countries click here:  LIST OF COUNTRIES.

Contact Joseph P. Wilson of the Wilson Tax Law Group at 714-463-4430 if you should have any questions.

Cannot Afford Your Property Taxes? New State Program Pays them for You

The California State Board of Equalization (BOE) has issued a letter concerning the law that reinstated the State Controller’s Property Tax Postponement Program, under which the Controller can pay property taxes to county tax collectors on behalf of qualifying individuals who are over the age of 62 or disabled.  Under the program, a claimant must have an annual income of $35,500 or less and at least 40% equity in his or her home. The BOE generally discusses:
  • requirements for county assessors who receive from the Controller a notice of lien for postponed property taxes;
  • assessors’ notice requirement to the Controller when property with a postponement lien changes ownership or a claimant transfers ownership, changes his or her mailing address, or dies; and
  • the Controller’s duty to record a release of the lien when the amount of the obligation secured by that lien is paid in full or otherwise discharged.
Applications may be filed with the Controller beginning September 1, 2016.  If you or your client want more information about this exciting new program, contact a property tax attorney who can assist you.  The  Wilson Tax Law Group specializes in property tax and income tax matters.  Joseph P. Wilson of the Wilson Tax Law Group can be reached at 714-463-4430 if you have any questions.
 

Cannot Afford Your Property Taxes? New State Program Pays them for You

The California State Board of Equalization (BOE) has issued a letter concerning the law that reinstated the State Controller’s Property Tax Postponement Program, under which the Controller can pay property taxes to county tax collectors on behalf of qualifying individuals who are over the age of 62 or disabled.  Under the program, a claimant must have an annual income of $35,500 or less and at least 40% equity in his or her home. The BOE generally discusses:
  • requirements for county assessors who receive from the Controller a notice of lien for postponed property taxes;
  • assessors’ notice requirement to the Controller when property with a postponement lien changes ownership or a claimant transfers ownership, changes his or her mailing address, or dies; and
  • the Controller’s duty to record a release of the lien when the amount of the obligation secured by that lien is paid in full or otherwise discharged.
Applications may be filed with the Controller beginning September 1, 2016.  If you or your client want more information about this exciting new program, contact a property tax attorney who can assist you.  The  Wilson Tax Law Group specializes in property tax and income tax matters.  Joseph P. Wilson of the Wilson Tax Law Group can be reached at 714-463-4430 if you have any questions.
 

Wilson Tax Law Group - The Newport Beach Tax Attorney Blog: Property Tax: Ten Counties Allow Intercounty Base ...

Wilson Tax Law Group - The Newport Beach Tax Attorney Blog: Property Tax: Ten Counties Allow Intercounty Base ...: Effective November 20, 2014, 10 California counties will have property tax ordinances implementing the intercounty base year value transf...

Wilson Tax Law Group - The Newport Beach Tax Attorney Blog: Property Tax: Ten Counties Allow Intercounty Base ...

Wilson Tax Law Group - The Newport Beach Tax Attorney Blog: Property Tax: Ten Counties Allow Intercounty Base ...: Effective November 20, 2014, 10 California counties will have property tax ordinances implementing the intercounty base year value transf...

Property Tax: Ten Counties Allow Intercounty Base Year Value Transfers

Effective November 20, 2014, 10 California counties will have property tax ordinances implementing the intercounty base year value transfer provisions for persons who are at least age 55 or are severely and permanently disabled. The counties are Alameda, El Dorado, Los Angeles, Orange, Riverside, San Bernardino, San Diego, San Mateo, Santa Clara, and Ventura. The latest county to be added was San Bernardino, which adopted an ordinance in October 2014 that applies to replacement dwellings that are purchased or newly constructed in the county on or after January 1, 2014.  Be careful when deciding where to move because numerous counties do not honor the base year transfer.

If you or your client is at least age 55 and is considering whether to  move to a new residence be sure to contact a property tax expert to make sure you don't lose your low property tax base.  The  Wilson Tax Law Group specializes in property tax and income tax matters. Please contact Joseph P. Wilson at 714-463-4430 if you have any questions.

IRS Announces Late Filing Penalty Relief For 2019 and 2020 Tax Returns Filed Before September 30

Press Release - (IR-2022-163) In recent news the IRS has announced that, individual taxpayers and businesses, impacted by the pandemic may q...