Fred Westcott, Enrolled Agent, is located in Beaumont CA and offers tax services and tax help.
Unlike CPA firms, we are tested and licensed by the US Treasury to provide tax representation, audit representation for tax appeals, tax collections, tax examination including correspondence audits and all types of tax negotiation.
This is a tax accounting Enrolled Agent firm providing CFO services as needed for personal tax preparation,business tax accounting, general accounting services, tax planning, tax advice, tax services for estate tax, conservatorship accounting, family foundations and other nonprofit and charitable activities including estate planning, trusts, trust administration, financial planning, retirement planning and wealth management.
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Chronic and long-term care medical deductions
Chronic and long term care can be a deductible medical expense and may be paid by Medicare. But, there are certain steps that must be taken in advance. Read more–>
Identity theft and IRS agent impersonation scams are a serious problem.
The IRS has stated that they will never send an e-mail to a taxpayer or call a taxpayer on the telephone regarding a tax bill and they will never demand immediate payment of any tax bill. By policy, the first contact with the IRS will be through a letter. They claim that they will never knock on your door.
So now that they have spent a lot of time telling taxpayers that message, the IRS is sending letters to taxpayers asking them to log on to a website to verify their identity. This certainly sounds like a scam; but, it is not. Read more–>
What is the 2014 tax law for health insurance?
The intent of the federal ACA law is to force all Americans and every member of their household to carry health insurance. Government subsidies are available to many of those who cannot afford the cost of health insurance in the past. If you do not have or obtain health insurance, the law carries stiff penalties added to your annual tax bill. More–>
Caregivers and the Granny Tax
We are an ageing population. With age comes physical and/or mental impairment requiring in-home care. If the caregiver is paid, there are tax implications. More-->
Foreign Asset Reporting
FATCA and FBAR
The USA and several international agencies are progressing along a path intended to make transparent the ownership of private assets world-wide. The purpose is to open the investigation of such assets to governmental authorities. The most extensive set of regulations is referred to in the USA as FATCA, the name of a Congressional act. As of this writing, over 100 jurisdictions have agreed to report under a variation of FATCA. The second set of regulations is called FBAR. The focus of FBAR, administrated by the Treasury department Financial Crimes Enforcement Network, is to identify foreign bank and investment accounts. There is a lot of overlap between these two programs. More-->