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Caroline D. Ciraolo quoted in Tax Notes article entitled "Direct Deposit Portal May Be New Vehicle for Old Scams"

Caroline D. Ciraolo was quoted in a Tax Notes article, entitled “Direct Deposit Portal May Be New Vehicle for Old Scams.”

“There will always be those who seek to abuse the system, but I suspect that individuals caught stealing much-needed relief funds will face law enforcement determined to hold them accountable and harsh consequences,” Caroline D. Ciraolo, a former head of the Justice Department’s Tax Division and now with Kostelanetz & Fink LLP, told Tax Notes.

Ciraolo said she expects the substantial time and resources the IRS devoted to the fight against identity theft refund fraud, and the filters developed in that process, will be put to good use protecting the direct deposit information portal.

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Yoram Keinan Quoted in Bloomberg Article Entitled “IRS Tries to Plug Timing Loophole in Anti-Abuse Rule Proposal”

Yoram Keinan was quoted in a Bloomberg Tax article, entitled “IRS Tries to Plug Timing Loophole in Anti-Abuse Rule Proposal.” The article details how, ”The proposed rules are Treasury’s attempt to bar companies from keeping a 100% deduction on early payments of their royalties agreements.” Mr. Keinan noted  that shareholders will “now have to track this new concept of a hybrid dividend account, which generally leads to a higher compliance burden.”

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Bryan C. Skarlatos quoted in Law360 Tax Authority article entitled "Pandemic Payment Program Will Add Nonfilers To IRS Rolls"

Bryan C. Skarlatos quoted in Law360 Tax Authority article entitled "Pandemic Payment Program Will Add Nonfilers To IRS Rolls," which explored the effects the coronavirus-related stimulus payments may have on the IRS’s ability to “to collect substantially more revenue in the future from individuals who had previously stayed below its radar.”

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IRS Provides Guidance on Collection and Other Enforcement Efforts

On March 30, the IRS Small Business/Self-Employed Division’s (“SBSE”) Director of Collection issued a Memorandum for All Collection Executives (the “Collection Memo”) ordering the implementation of a period of suspension of “most collection activities” by the IRS as part of the broader effort to provide temporary relief for taxpayers amid the COVID-19 pandemic. Under the guidance provided by the Collection Memo, taxpayers can expect most IRS collection activities to stop during the suspension period, which stretches from March 30, 2020 to July 15, 2020.

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Megan Brackney presented a webinar entitled "The New IRS Fraud Enforcement Office: Enforcement & Consequences of Tax Fraud," for the CPA Academy, on April 7, 2020

Now is a good time to enhance your understanding of tax fraud and the IRS’s antifraud enforcement tools  The IRS has created a new Fraud Enforcement Office to develop increased enforcement, both with criminal referrals from the field and additional civil fraud penalties. This webinar discussed the indicia of fraud, how the IRS identifies and proves fraud, and the civil and criminal consequences of tax fraud, and the relevant procedures.

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Information on IRS Stimulus Payments and Other Tax Implications of the Novel Coronavirus

The IRS has created a webpage on IRS.gov designed to answer taxpayer and business questions about stimulus payments and other guidance issued in response to the novel coronavirus pandemic. The webpage is being updated as needed to help individuals and businesses navigate the new guidance, obtain stimulus payments to which they are entitled and understand the new reporting and payment deadlines.  

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The IRS’s Offshore Voluntary Disclosure Program Has Ended—Now What?

By Christopher M. Ferguson
NYSSCPA Tax Stringer
April 1, 2020

On Sep. 28, 2018, the IRS’s Offshore Voluntary Disclosure Program (OVDP) came to an end; however, offshore tax and reporting noncompliance persists in today’s increasingly global economy. Tax advisors are still helping clients who have been—or continue to be—noncompliant with their offshore tax and reporting obligations. This Q&A addresses some of the common issues that taxpayers and their advisors are dealing with in a post-OVDP world.

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Caroline Rule Article on U.S. v Greenfield Selected for Inclusion in the March/April Magazine of the ABA General Practice Division

Caroline Rule’s article, “United States v. Greenfield:  A Triumph of the Fifth Amendment’s Act of Production Privilege; or Confirmation that the Privilege Can Be Entirely Abrogated by Any Act of Congress, or Even by a Treasury Regulation?” published in The Tax Lawyer, Winter 2018 (71:2), has been selected for inclusion in the March/April magazine of the ABA General Practice Division, which will focus on “The Best of ABA Sections”--a compilation of some of the best articles published by the ABA’s sections, forums, and divisions.

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Caroline Rule Article on U.S. v Greenfield Selected for Inclusion in the March/April Magazine of the ABA General Practice Division

Caroline Rule’s article, “United States v. Greenfield:  A Triumph of the Fifth Amendment’s Act of Production Privilege; or Confirmation that the Privilege Can Be Entirely Abrogated by Any Act of Congress, or Even by a Treasury Regulation?” published in The Tax Lawyer, Winter 2018 (71:2), has been selected for inclusion in the March/April magazine of the ABA General Practice Division, which will focus on “The Best of ABA Sections”--a compilation of some of the best articles published by the ABA’s sections, forums, and divisions.

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K&F in the Classroom: Taxation of Financial Instruments and Transactions at UMich and Georgetown

In his more than two decades of experience in both the U.S. and Israel, Yoram Keinan has developed extensive experience with respect to the domestic and international taxation of financial products and institutions, and he’s been bringing that knowledge to classrooms at both his alma mater, the University of Michigan Law School, and Georgetown Law Center in a class that is again being offered at both schools, “Taxation of Financial Instruments and Transactions.”

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