The IRS and the State Department are preparing to implement 2015 tax law changes that will allow the government to revoke or deny passports to individuals with seriously delinquent tax debt. About 270,000 taxpayers fall into this category.
In the article, Sardar expresses doubt that the changes will promote voluntary tax compliance.
“Taxpayers that don't pay their taxes usually don't do so, not because they don't want to, but because they have an issue. Will it get you compliance, now that there's more pressure points? Perhaps on the margins,” Sardar said. “But there's generally still a lack of ability to pay.”
Henry Stow Lovejoy interviewed NYU Law Professor David Kamin at the Town Hall On The Hot Tax Issues Of 2018: Tax Reform And Passport Revocation
Taxpayers and tax professionals are preparing for the tax changes we will see in 2018. What does this mean for the taxpayer in terms of rates and deductions and what will be the economic impact? What about businesses owned by attorneys and accountants?
Megan L. Brackney presented "Use Of Reasonable Cause To Avoid Penalties" at the 2018 PrimeGlobal North America Annual Tax Conference
For over 35 years, the PrimeGlobal Annual Tax Conference has proved its worth. Delegates leave with the very best in tax planning ideas, up-to-the-minute federal and state tax updates, strong relationships with some of the smartest tax partners in the industry, and a wealth of practice management tips and tools to make the busy season run smoothly.
Would Require Non-U.S. Banks to Comply with U.S. Subpoenas on Pain of Losing Ability to Conduct U.S. Correspondent Banking
The U.S. Senate is advancing legislation that could create substantial challenges for non-U.S. banks operating in the United States. Senate Bill 1241, known as the “Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017,” has strong bipartisan support and could be passed and signed by the President into law in this year.
Caroline D. Ciraolo volunteered for the IRS Military Volunteer Income Tax Assistance Adopt-A-Base Program at Fort Meade in Maryland
This program provided free tax assistance, preparation and filing for authorized customers. This free service was available to all active-duty, retirees and family members in the Fort Meade area.
Caroline D. Ciraolo quoted in "New Tools In Money Laundering Bill Could Be Used In Tax Cases", Tax Notes
A proposal under consideration in the Senate is facially targeted at money laundering, with only one overt mention of tax crimes, but it would provide a host of new tax enforcement tools.
Former DOJ Tax Division Head Among Best to ‘Help Clients Handle the IRS’
WASHINGTON — Washingtonian magazine has named Kostelanetz & Fink partner Caroline Ciraolo one of the D.C.-area’s top tax lawyers in 2017.
Jerald David August lectured on "The Attorney-Client Privilege And Work Product Doctrine In Tax Controversies" at the American Law Institute Video Webcast
When a federal tax dispute arises, government officials often seek to obtain attorney-client communications such as letters, e-mails, and statements.
Caroline D. Ciraolo presented "Penalties Above 20%: What Are They, When Are They Applied, And How Do You Defend?" at the 65th Annual Taxation Conference
During this panel, attendees discussed the various penalties, when they may apply, and applicable defenses, when the IRS seeks to impose accuracy-related penalties in excess of 20%.
Bryan C. Skarlatos quoted in "Washington Is Trying to Regulate Bitcoin. These People Are Trying to Stop It", Fortune
Cryptocurrency surged this year as bitcoin enthusiasts struck it rich. Bryan C. Skarlatos lends his expertise to the matter in the article "Washington is Trying to Regulate Bitcoin. These People Are Trying to Stop It." With bitcoin skyrocketing past $17,000 this year there are rising concerns that there is not enough regulation surrounding cryptocurrency. In an excerpt from the article:
"The IRS classified digital currency as property in 2014, meaning transactions are subject to capital gains tax. Using bitcoin or other virtual currency to purchase goods and services is considered exchanging property, and all the transactions must be tracked for gains and losses, said Bryan Skarlatos, a tax attorney at Kostelanetz & Fink LLP who has lectured and written about bitcoin."