Robert M. Russell quoted in Bloomberg Tax article entitled "IRS Fixes to Foreign Tax Credit Rules Could Boost New Virus Perk"
In a recent Bloomberg Tax article by Siri Bulusu entitled "IRS Fixes to Foreign Tax Credit Rules Could Boost New Virus Perk," Robert M. Russell discussed how benefits, such as a net operating loss carry back provision, restored in response to the COVID-19 crisis could affect and interact with prior deductions and perks.
Kostelanetz & Fink is pleased to announce that this year’s NYU Tax Controversy Forum will be held on Thursday and Friday, June 18 and 19, 2020 as an online webinar featuring senior IRS personnel. The entire program will be provided free of charge.
While we are sorry we won’t see you in person, the Forum’s Planning Committee, which includes Forum founder and Kostelanetz & Fink partner Bryan Skarlatos, and the New York University’s School of Professional Services have decided to offer this program remotely via Zoom webinar in order to ensure the health and safety of conference attendees and panelists during the COVID-19 pandemic.
Given the circumstances, NYU SPS is waiving all registration fees and bringing this year’s Forum to you for free!
Megan Brackney presented a webinar entitled "IRS Summons and Other Methods of Obtaining Taxpayer Information, Enforcement, and Defenses" for Celesq Attorneys Ed Center, on May 21, 2020
The IRS has several methods for obtaining information about taxpayers. This program discussed the IRS’s methods of obtaining information, focusing primarily on the IRS’s summons authority, including the scope of that authority, taxpayer’s rights and privileges, summons enforcement litigation, and the attorney’s ethical obligations when responding to IRS requests for information under Circular 230.
Paul Butler quoted in Tax Notes article entitled "Work-From-Home Technology Comes With New Privilege Concerns"
In a recent Tax Notes article by Nathan J. Richman entitled “Work-From-Home Technology Comes With New Privilege Concerns," Paul Butler discussed concerns about how to safeguard attorney-client privilege and protect the work product doctrine when using videoconferencing and other new technological tools that tax professionals are relying on during the coronavirus pandemic.
Caroline Ciraolo was interviewed for the American Citizens Abroad (ACA) TaxCast podcast. Part 1 of her interview was posted May 15, 2020, and Part II is due to post on May 31, 2020. During Part 1 of the program, Ms. Ciraolo discussed non-filers and the CARES Act stimulus payments, voluntary disclosure, streamlined filing compliance procedures, delinquent international information return submission procedures, and other compliance-related matters.
Bryan C. Skarlatos participated in a panel entitled “Balancing Tax Planning, Advocacy, and Professional Ethics: The Rules That Every Tax Advisor Should Know" at the Tax Planning for Partnerships 2020 web conference for PLI on May 14, 2020
Bryan C. Skarlatos and Bradley M. Seltzer reviewed the ethical rules related to advising clients on transactions involving partnerships and other passthrough entities, using a real-life hypothetical, including tax motivated transactions, and the pitfalls encountered by the advisor at every stage – from the planning of the transaction, to providing tax opinions and recommending return positions, to dealing with the IRS in audit; ethical rules covered include standards derived from the Internal Revenue Code, Circular 230, the AICPA Statements on Standards for Tax Services, and the ABA Model Rules of Professional Conduct.
Paul T. Butler participated in a webinar entitled “Practical Privilege Issues in Income Tax Disputes" for the ABA Tax Section , on May 14, 2020
This panel discussed the rules protecting communications from disclosure, including attorney-client, work product, and I.R.C. section 7525 privileges. The panelists demonstrated application of those privileges using real-world examples, touching on hot topics, and providing best practices to use in disputes with taxing authorities.
Megan Brackney presented a webinar entitled "Form 8300 Reporting Requirements and Penalties" for the CPA Academy, on May 13, 2020
This program discussed the requirements to file Forms 8300 to report cash transactions in a trade or business of over $10,000 and to furnish annual statements to customers. Ms. Brackney outlined the basics of Form 8300 compliance, and then went into further discussion about the potential penalties, defenses to penalties, and the methods of challenging Form 8300 penalties.
Chambers USA Recognizes K&F and Five Attorneys as Leaders in Tax Controversy And White-Collar Defense
“One of the Top Tax Boutiques in the Country,”
“A Deep Bench and a Stellar Reputation”
NEW YORK, NY (May 5, 2020) – Kostelanetz & Fink LLP is pleased to share that Chambers and Partners has recognized the firm and five attorneys in its 2020 USA Guide in the areas of tax controversy, tax fraud, tax law, and white-collar defense and government investigations. Chambers USA ranks the top lawyers and law firms across all the United States of America through assessment of a firm’s work and opinions from external market sources, with an emphasis on client feedback.
Sharon L. McCarthy quoted in Global Investigations Review article entitled "Lacklustre Early Cooperation Fuelled US Tax Evasion Penalty to Israeli Bank"
In a recent Global Investigations Review article by James Thomas entitled “Lacklustre Early Cooperation Fuelled US Tax Evasion Penalty to Israeli Bank," Sharon L. McCarthy reacted to the announcement by the US Department of Justice (DOJ) on April 30, 2020 that Bank Hapoalim’s Swiss subsidiary had pleaded guilty to conspiring with US taxpayers to hide over $7.6 billion in more than 5,500 secret Swiss and Israeli
bank accounts between 2002 and 2014. As Sharon noted, "the settlement sends a loud message to financial institutions that are under investigation for helping US taxpayers hide money in offshore accounts."