Bryan C. Skarlatos and Juliet L. Fink Obtain Sentence Of Nine-Months Home Confinement For Defendant Facing 15 Years’ Imprisonment In Connection With $80 Million Art Fraud Scheme
The Long Island woman who fooled the art world by pawning off paintings by an unknown artist from Queens as the work of Modernist masters was sentenced to time served on Tuesday, more than five years after her actions helped lead to $80 million in fraudulent sales and the demise of New York’s oldest gallery.
Journal of Tax Practice & Procedure, October - November 2016
Tax practitioners often give tax advice on things like how to structure an investment in a business venture, sell an asset, plan for retirement or pass wealth to the next generation. Sometimes a practitioner’s tax advice turns out to be wrong and the IRS assesses a tax deficiency against the taxpayer.
Megan L. Brackney and Bryan C. Skarlatos presented "Effectively Representing Taxpayers Before the IRS" at the Sid Kess All-Star Series
On December 28th at the New York State Society of CPAs, we followed the journey of Joe & Mary through the IRS process. This full-day program used a particular client’s fact pattern to highlight the various areas of the IRS representation process and the opportunities and pitfalls for practitioners and their clients.
Bryan C. Skarlatos presented "The Next Wave: The Government’s Focus on U.S. Investments to Evade Foreign Taxes" at the ABA 33rd Annual National Institute on Criminal Tax Fraud and 6th Annual National Institute on Tax Controversy
There is increasing attention to the use of U.S. investments, structures and bank accounts to facilitate tax evasion in other countries. The last year has seen a number of initiatives to increase information reporting concerning these activities, as well as increased investigations in this area. This panel discussed these initiatives, the tools available to the government, and ways to be prepared for the next wave of enforcement.
Trump faces potential decision on IRS
by: Kevin McCoy
President-elect Donald Trump could face a decision that may affect whether his tax returns will continue to be audited throughout his four-year term of office.
IRS regulations call for annual audits of tax returns filed by U.S. presidents and vice presidents. But those rules, in place roughly 40 years, theoretically could be changed by the tax agency — whose current leader is under fire from Capitol Hill.
The rules are included in the Internal Revenue Service Manual, which guides actions by the nation's tax agency. It states that tax returns filed by the president and vice president "are subject to mandatory examinations," and should not get less-rigorous screening.
The protocol dates back to the Watergate era and President Richard Nixon. He refused to release his 1971 and 1972 tax returns, said they had been audited and initially opposed any re-check.