Month: September 2014

IRS Telephone Scams: Simi Valley and Chatsworth Offices

Posted on by Craig Mathias

Don’t Be Taken in by Phony IRS Requests

 

The phone rings. The caller says they are from the Internal Revenue Service and they claim you owe taxes and must submit payment through a wire transfer or prepaid debit card. Or you receive an email supposedly from the IRS asking you to share your bank account, credit card or Social Security number.  What should you do?

 

The sad truth is that many scammers pretend to be IRS agents as part of identity theft or other criminal activity. If you receive a surprising or suspicious communication purportedly from the IRS, we would urge you to call us immediately. We can help you identify a bogus request for information and work with you to respond to a legitimate IRS contact.  You can also call the IRS directly at 800-829-1040 to verify any communication you receive.

Possible Prop 13 reassessment avoidance: Camarillo, Chatsworth and Simi Valley Offices

Posted on by Craig Mathias

Reference: Ocean Avenue LLC v. County of Los Angeles and R&TC Section 46(a).

In the above case, three individuals/entities bought all of the membership shares of Ocean Avenue LLC without any of them having a controlling interest.  Because there was no change in controlling interest, there was no new assessment of the underlying property owned by Ocean Avenue LLC (a hotel in Santa Monica). The case hinged on close relationships between the three buyers.  Although the case cannot be cited or relied upon in court (decertified), it does highlight the rules under CA Revenue & Tax Code Section 64(a) where a change in control of the underlying ownership entity does not exist.

This is a possible planning tool, but must be undertaken only after careful consultation with a real estate tax attorney familiar with the complexities of R&TC Section 46.