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Jared R. Callister

California Tax Review

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IRS Delays New Section 6035 Basis Reporting Requirements

The IRS recently released Notice 2015-57, which provides that the due date for the new tax basis reports that are now required to be filed under Section 6035 is postponed until February 29, 2016. 

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How to Revive Your Suspended Business Without Paying Back Taxes

For any business owner with tax problems, one of the most devastating things the government can do is to suspend the business entity's privileges.

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Hillary Clinton Releases Eight Years Worth of Tax Returns

On Friday, presidential candidate Hillary Clinton released eight years worth of her personal income tax returns--a practice which has now become the norm for any presidential candidate.  Upon releasing the returns her campaing also released a statement which emphasized that she came into wealth later in life.  "We've come a long way from my days going door-to-door for the Children's Defense Fund and earning $16,450 as a young law professor in Arkansas — and we owe it to the opportunities America provides," she said.

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California "Waiting Time" Penalties NOT Classified as Wages for Payroll Tax Purposes

Anytime there is a judgment, award of damages, or settlement that involves the transfer of funds a careful analysis should be undertaken to determine the appropriate taxability and reporting related to the transfer.  Typically, during settlement negotiations, both parties will willingly attempt to allocate and classify a portion of the settlement proceeds as a class of payment that would not be subject to income or employment taxes.  For exam

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