Monday, February 1, 2010
CA SOS San Diego Office Closure
Due to budget cuts, the California Secretary of State has decided to close its San Diego regional office. The closure will go into effect on April 2, 2010. Documents which would normally have been submitted at the San Diego office should now be submitted (via mail or in person) to the Sacramento location (1500 11th Street, Sacramento, CA 95814). Documents may also be delivered to the Los Angeles regional office (300 South Spring Street), which will continue to offer services previously available at the San Diego branch. If you need assistance with filing or retrieving public documents with the CA SOS, Parasec can help make the process seamless. Give us a call today at 800.533.7272.
Wednesday, January 27, 2010
State Turnaround Times
Well, we’re wrapping up the first month of the new year and I am happy to report that we are seeing some improvements in the economy and hearing good things from some of our clients about their businesses improving – two things that give me a very positive feeling as I look further into the year and beyond.
That said, I am still concerned with the ability of our governmental agencies to handle the volume of a growing workload as the economy begins to pick up and improve. I’ll use the California Secretary of State (CA SOS) as an example. At the end of the calendar year things tend to get a little wild in the corporate-filings division. Volume rises dramatically, special date requests are more frequent and the number of expedited filings increases. In past years, the CA SOS has accommodated this boost in business by working overtime – especially on weekends – to get the backlog completed and get back to business as usual.
With the state’s poor budget and mounting deficits, the CA SOS can no longer utilize overtime as they have, so timeframes have jumped exponentially. Documents that used to take five to seven business days to process are now taking 15 business days. As of today, January 27th, the state is working on documents filed on January 7th. I’m not sure how long it will take them to work through the holiday workload and bring the timeframes down to a reasonable range. The CA SOS isn’t even participating in furloughs as most other state departments are. What would things be like if their staff was taking an additional two days off a month?
While most states are not faced with quite the fiscal crisis that California is, many are still confronted with some significant financial belt tightening, which may well affect the turnaround times on document filing and retrieval. We are monitoring state timeframes on a daily basis and will continue to provide our clients with estimates based on the most up-to-date information.
That said, I am still concerned with the ability of our governmental agencies to handle the volume of a growing workload as the economy begins to pick up and improve. I’ll use the California Secretary of State (CA SOS) as an example. At the end of the calendar year things tend to get a little wild in the corporate-filings division. Volume rises dramatically, special date requests are more frequent and the number of expedited filings increases. In past years, the CA SOS has accommodated this boost in business by working overtime – especially on weekends – to get the backlog completed and get back to business as usual.
With the state’s poor budget and mounting deficits, the CA SOS can no longer utilize overtime as they have, so timeframes have jumped exponentially. Documents that used to take five to seven business days to process are now taking 15 business days. As of today, January 27th, the state is working on documents filed on January 7th. I’m not sure how long it will take them to work through the holiday workload and bring the timeframes down to a reasonable range. The CA SOS isn’t even participating in furloughs as most other state departments are. What would things be like if their staff was taking an additional two days off a month?
While most states are not faced with quite the fiscal crisis that California is, many are still confronted with some significant financial belt tightening, which may well affect the turnaround times on document filing and retrieval. We are monitoring state timeframes on a daily basis and will continue to provide our clients with estimates based on the most up-to-date information.
Wednesday, November 18, 2009
Sacramento Valley Paralegal Association Luncheon
Today I was invited to sit in on the Sacramento Valley Paralegal Association’s monthly CLE luncheon. I was unable to attend, so I sent my right-hand person, Erin Sierchio. Here is her recap of the event:
Nearly 20 SVPA members attended today’s Sacramento Valley Paralegal Association meeting, which was held in the conference room here at Parasec’s Sacramento office. The featured speaker was Gregory Axten, CEO of American Geotechnical, who gave an unexpectedly interesting presentation on "Diagnosing Soil Problems."
Mr. Axten is a civil/geotechnical engineer with more than 37 years of experience in the fields of soil engineering, foundation engineering, geology, materials engineering and hydrology. He has acted as an expert witness for problem analysis and dispute resolution in nearly 100 trials.
One of the interesting tidbits that Axten discussed was the impact landscaping, and trees in particular can have on soil and therefore on structures built nearby. Tree roots can lift foundations and slabs as well as create soil shrinkage so it’s important to consider this when planting them near structures. When determining where to plant trees, Axten suggested that we estimate that the roots will grow to extend out from a tree at a distance equivalent to the tree height, and simply trimming a tree will not stop the roots from growing!
Axten also discussed common indicators of structural problems, such as cracks and separations, slope movement, wall tilt, soil features, seepage and poor drainage. Axten was able to illustrate – in layman’s terms – how analyzing soil samples, investigating damage, and running field and laboratory tests can help determine what caused specific structural damages. It’s his keen eye and expertise in identifying these problems that have led people from the legal community to seek out his assistance with cases.
Nearly 20 SVPA members attended today’s Sacramento Valley Paralegal Association meeting, which was held in the conference room here at Parasec’s Sacramento office. The featured speaker was Gregory Axten, CEO of American Geotechnical, who gave an unexpectedly interesting presentation on "Diagnosing Soil Problems."
Mr. Axten is a civil/geotechnical engineer with more than 37 years of experience in the fields of soil engineering, foundation engineering, geology, materials engineering and hydrology. He has acted as an expert witness for problem analysis and dispute resolution in nearly 100 trials.
One of the interesting tidbits that Axten discussed was the impact landscaping, and trees in particular can have on soil and therefore on structures built nearby. Tree roots can lift foundations and slabs as well as create soil shrinkage so it’s important to consider this when planting them near structures. When determining where to plant trees, Axten suggested that we estimate that the roots will grow to extend out from a tree at a distance equivalent to the tree height, and simply trimming a tree will not stop the roots from growing!
Axten also discussed common indicators of structural problems, such as cracks and separations, slope movement, wall tilt, soil features, seepage and poor drainage. Axten was able to illustrate – in layman’s terms – how analyzing soil samples, investigating damage, and running field and laboratory tests can help determine what caused specific structural damages. It’s his keen eye and expertise in identifying these problems that have led people from the legal community to seek out his assistance with cases.
Tuesday, November 3, 2009
IRS Amnesty Program a Success
The IRS recently ran a very successful amnesty program which ended October 15, 2009, for individuals who have been maintaining offshore accounts to avoid US taxation. The hope was that citizens would voluntarily come forward to report their accounts rather than the IRS having to track them down at significant taxpayer expense. As a result of the program, nearly 7,500 citizens and residents came forward to report their offshore accounts. The amnesty provided said individuals with an incentive for reporting any illegally hidden assets, including a significant reduction to any unpaid taxes and penalties, and the removal of criminal penalties and/or prison time.
Of the citizens/residents that voluntarily came forward, the dollar amounts associated with the hidden assets varied from accounts as small as $10,000, and as large as $100,000,000. The IRS did not estimate how much tax income would be generated as a result of the program, but they were very pleased with the program’s turn out.
The benefits of the program are not limited to the individuals who have come forth thus far. As the IRS has time to process these accounts and speak at length with the individuals, they are certain they will be able to identify additional offshore account holders who did not come forward. For example, CPAs, investment advisors and others who have participated in helping citizens to hide their money off shore. As these individuals are identified, more offshore accounts will be identified and the monies will become available for taxation.
Another benefit is that the taxpayer will now be in the system for each year from now forward. Depending upon the number of tax avoiders found during this amnesty program and the follow up searches, that could be a significant addition to the state and national tax rolls for years to come.
If you have an offshore account that is hiding income and did not sign up for the amnesty program, all is not lost. The IRS is considering extending the program but has not made a decision yet. Also, there are other programs available to help you mitigate the penalties involved. Contact your CPA for assistance with bringing your offshore accounts into tax compliance.
Of the citizens/residents that voluntarily came forward, the dollar amounts associated with the hidden assets varied from accounts as small as $10,000, and as large as $100,000,000. The IRS did not estimate how much tax income would be generated as a result of the program, but they were very pleased with the program’s turn out.
The benefits of the program are not limited to the individuals who have come forth thus far. As the IRS has time to process these accounts and speak at length with the individuals, they are certain they will be able to identify additional offshore account holders who did not come forward. For example, CPAs, investment advisors and others who have participated in helping citizens to hide their money off shore. As these individuals are identified, more offshore accounts will be identified and the monies will become available for taxation.
Another benefit is that the taxpayer will now be in the system for each year from now forward. Depending upon the number of tax avoiders found during this amnesty program and the follow up searches, that could be a significant addition to the state and national tax rolls for years to come.
If you have an offshore account that is hiding income and did not sign up for the amnesty program, all is not lost. The IRS is considering extending the program but has not made a decision yet. Also, there are other programs available to help you mitigate the penalties involved. Contact your CPA for assistance with bringing your offshore accounts into tax compliance.
Thursday, October 29, 2009
Santa Barbara Paralegal Association Luncheon
It’s a beautiful Thursday afternoon and I just finished speaking at the Santa Barbara Paralegal Association (SBPA) luncheon in sunny downtown Santa Barbara. The event marked the association’s annual meeting, during which they held elections for next year’s officers and listened to me speak for an hour on “Legal Ethics and Corporate Officer Fraud.”
There was a great turnout at the event, with somewhere between 35 and 40 members in attendance. The group was very friendly and I didn’t catch a single person sleeping during the presentation. I’d love to think that it is because of the quality of my presentation, but I can’t quite be sure.
The meeting was held at the Santa Barbara Bank and Trust Community Conference Room, which is a beautiful facility and perfect for meetings of this type. Sandwiches and salads were served, the elections went smoothly and the results announced after the presentation. The results of the election should be posted on the SBPA website (www.sbparalegals.org) in the near future. I can guarantee they haven’t had time to update the site just yet!
I want to extend a warm thank you to this great association and group of paralegals for a very warm welcome as well as for their attentiveness and questions. I look forward to having the opportunity to speak with SBPA again soon!
There was a great turnout at the event, with somewhere between 35 and 40 members in attendance. The group was very friendly and I didn’t catch a single person sleeping during the presentation. I’d love to think that it is because of the quality of my presentation, but I can’t quite be sure.
The meeting was held at the Santa Barbara Bank and Trust Community Conference Room, which is a beautiful facility and perfect for meetings of this type. Sandwiches and salads were served, the elections went smoothly and the results announced after the presentation. The results of the election should be posted on the SBPA website (www.sbparalegals.org) in the near future. I can guarantee they haven’t had time to update the site just yet!
I want to extend a warm thank you to this great association and group of paralegals for a very warm welcome as well as for their attentiveness and questions. I look forward to having the opportunity to speak with SBPA again soon!
Wednesday, October 28, 2009
Continuing Reports Regarding Annual Report Scams
On October 8, 2009, California Attorney General Edmund G. Brown brought suit against six businesses and eight individuals all of whom were involved in scams perpetrated against small corporations and LLCs in the state.
Parasec has been working for at least the past couple of years to get the word out about these ongoing scams and will continue to try to warn our clients about the potential for being deceived by these clever scam artists.
All of the scams involve similar tactics, including the mailing of official-looking documents warning that if the forms are not returned with payment by a certain date, the companies will risk loss of their corporate or LLC status with the state of California. The fees requested in the scams have ranged from $195 to $239.
The forms all carry official-looking seals and come with titles such as: “Compliance Annual Minutes Board,” “Annual Review Board” and “Corporate Filings Division.” Sometimes these perpetrators claim that they will prepare the corporate minutes in return for payment, but the Attorney General has found that when this is the case the documents prepared are insufficient to qualify as legitimate corporate minutes.
While these cases are certainly a step in the right direction towards containing these scams, please stay alert because there are many other companies perpetrating similar types of scams. The scams are apparently quite lucrative and require very little effort. The warning we printed in the latest issue of our Alert resulted in numerous calls from our clients regarding documents they had received from companies similar to these.
Give us a call if you have ANY questions about documents you may receive. It is better to be safe than sorry, especially in these tough economic times. Any correspondence you receive from us will be clearly labeled with either Parasec or Paracorp on the documentation. If you don’t see our name, it’s definitely not from us. We’re happy to help make sure you don’t get caught in one of these scams!
If you do receive any solicitations of this nature, the California Attorney General is interested in seeing the material. Here is the information about where to file complaints:
Attorney General’s Office
California Department of Justice
Attn: Susie Lorden
110 West A Street, Suite 1100
San Diego, CA 92101
PHONE: 800-952-5225
Email: piu@doj.ca.gov
Parasec has been working for at least the past couple of years to get the word out about these ongoing scams and will continue to try to warn our clients about the potential for being deceived by these clever scam artists.
All of the scams involve similar tactics, including the mailing of official-looking documents warning that if the forms are not returned with payment by a certain date, the companies will risk loss of their corporate or LLC status with the state of California. The fees requested in the scams have ranged from $195 to $239.
The forms all carry official-looking seals and come with titles such as: “Compliance Annual Minutes Board,” “Annual Review Board” and “Corporate Filings Division.” Sometimes these perpetrators claim that they will prepare the corporate minutes in return for payment, but the Attorney General has found that when this is the case the documents prepared are insufficient to qualify as legitimate corporate minutes.
While these cases are certainly a step in the right direction towards containing these scams, please stay alert because there are many other companies perpetrating similar types of scams. The scams are apparently quite lucrative and require very little effort. The warning we printed in the latest issue of our Alert resulted in numerous calls from our clients regarding documents they had received from companies similar to these.
Give us a call if you have ANY questions about documents you may receive. It is better to be safe than sorry, especially in these tough economic times. Any correspondence you receive from us will be clearly labeled with either Parasec or Paracorp on the documentation. If you don’t see our name, it’s definitely not from us. We’re happy to help make sure you don’t get caught in one of these scams!
If you do receive any solicitations of this nature, the California Attorney General is interested in seeing the material. Here is the information about where to file complaints:
Attorney General’s Office
California Department of Justice
Attn: Susie Lorden
110 West A Street, Suite 1100
San Diego, CA 92101
PHONE: 800-952-5225
Email: piu@doj.ca.gov
Friday, July 31, 2009
The Alert is out!
If you notice any changes in the writing style in this latest issue of the Alert, it’s because my assistant, Erin Sierchio, took on the job for me. After years of writing our newsletter with little assistance and only one short break, I’ve finally found the perfect person to tackle this major task. Erin has a degree in English and has been with Parasec now for over a year. During her time with us, she has educated herself about what we do and she is now able to handle the vast majority of the writing requirements.I will still be actively involved in writing my column as well as in editing and assisting on any articles where Erin is uncomfortable with her knowledge of the subject. I’m looking forward to spending some of my newly freed time developing new and informative continuing legal education seminars, and getting those seminars onto the internet as Webinars, which will allow our clients to access the information more readily.
The Alert will continue to maintain its high standards for providing current and relevant information and we look forward to any input you may have that will help us to continue to improve on our format and presentation.
Read it in its entirety here.
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