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Caroline D. Ciraolo participated in the panel entitled "Ethics, Data Breaches, and More," at the Federal Bar Association's 2020 Tax Law Conference

This panel touched on a variety of ethics issues including those arising from limited representation of a client, from service as a personal representative under unified partnership audit procedures, and from a data breach.

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Megan Brackney Named One of Lawline’s “Top Women Faculty of 2019”

Megan Brackney was named by Lawline as one of the “Top Women Faculty of 2019” for a CLE program she taught entitled “Tax Procedure: IRS Methods of Obtaining Information From and About Taxpayers.” Lawline noted that the program “has received 500 views and counting since the December 2019 live broadcast.”

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Caroline D. Ciraolo moderated and Brian P. Ketcham participated in the panel entitled "Criminal Tax Sentencing - Best Practices," at the Federal Bar Association's 2020 Tax Law Conference

The panel reviewed the latest sentencing statistics in criminal tax prosecutions and discussed best practices in connection with negotiating the plea agreement, calculation of tax loss, impact of forfeiture, dealing with Office of Probation and Pretrial Services, character letters, payment of restitution, sentencing memoranda, allocutions, witnesses, conditions of probation or supervised release, and designations.

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Caroline D. Ciraolo co-chaired the Enforcement & Criminal Tax Program at the Federal Bar Association's 2020 Tax Law Conference

Caroline D. Ciraolo co-chaired the Enforcement & Criminal Tax Program at the Federal Bar Association's 2020 Tax Law Conference, on March 5 and March 6, 2020. 

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Caroline D. Ciraolo participated in the Forum on International Tax Disputes, Surrey, United Kingdom on February 26-28, 2020

Each year the Forum's steering committee welcomes up to 44 senior tax directors and leading lawyers personally selected from renowned regional and national firms and corporations around the world. With increased transparency and information sharing amongst tax authorities, as well as use of aggressive techniques like criminal investigations and digital taxation on the rise, there is a greater need to keep up-to-date on developments in key jurisdictions around the world.

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Bryan C. Skarlatos participated in a panel entitled "Mastering Bitcoin, Blockchain, & Digital Currency Law," hosted by Rossdale CLE on February 26, 2020

The huge expansion in Bitcoin & digital currencies in states across the nation and globally has led to a significant need for attorneys proficient in the cutting-edge use of related legal and regulatory issues. The laws vary greatly and have been in flux with the proliferation of Fortune 500 companies, governments, and start-ups seeking to take advantage of this growing use of currency. The faculty for this seminar featured several leading authorities on the subject.

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K&F in the Classroom: Civil and Criminal Tax Penalties and Procedures at NYU Law

Drawing on their deep experience representing clients facing some of the most challenging and complex tax controversy matters, Kostelanetz & Fink partners Bryan Skarlatos and Megan Brackney have for years been bringing their expertise into the classroom as adjunct professors at New York University School of Law.

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Megan L. Brackney presented the webinar, “IRS Summons: Use, Scope, and Enforcement in 2020” for CPA Academy on February 20, 2020

The IRS has various methods of obtaining information from and about taxpayers.  In this program, attorney Megan L. Brackney will discuss the IRS’s use of summonses to obtain information from taxpayers and third parties, the scope of the IRS’s authority, and summons enforcement.  The discussion will include the IRS’s use of John Doe Summonses and Formal Document Requests.  We will also discuss taxpayer rights and defenses, including the assertion of privileges, such as attorney-client, work product, federally-authorized tax practitioner, and Fifth Amendment privileges.

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Caroline D. Ciraolo and Jay R. Nanavati presented "Financial Crimes Enforcement, Compliance & Risk Mitigation" at the Bahamas Financial Services Board in Nassau, Bahamas on February 19, 2020

Washington, D.C.-based Kostelanetz & Fink partners Caroline D. Ciraolo and Jay R. Nanavati presented "Financial Crimes Enforcement, Compliance & Risk Mitigation" at the Bahamas Financial Services Board in Nassau, Bahamas on February 19, 2020.

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Reporting Foreign Retirement Plans on Required Information Returns

By Usman Mohammad
The CPA Journal
February 2020 Edition

Foreign asset reporting—including the reporting of foreign retirement plans—is a high priority for the IRS, which in 2019 listed the “failure to report offshore funds” as one of its “Dirty Dozen Tax Scams,” and has done so for several years running. Individuals with assets in foreign retirement plans, as well as their tax advisors, should become familiar with the various U.S. information reporting forms that may need to be filed to report those plans. This article provides information about different types of foreign retirement plans, the Department of Treasury forms used to report them, and the consequences of failing to do so.

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