Sharon L. McCarthy has been appointed as 2020-2021 Chair of the Federal Criminal Procedure Committee for the American College of Trial Lawyers (ACTL)
Sharon L. McCarthy, a Fellow of the American College of Trial Lawyers (ACTL), completed her term as Vice Chair of the Federal Criminal Procedure Committee and was appointed as Chair of the Committee for the 2020-2021 committee year.
The ACTL recently published a white paper drafted by members of the Federal Criminal Procedure Committee, including Ms. McCarthy, on Recommended Practices for Companies and Their Counsel in Conducting Internal Investigations.
Bryan C. Skarlatos interviewed Don Fort, Chief, IRS CID on "Current Developments in the Internal Revenue Service Criminal Investigation Division" for the CPA Academy
On September 24, 2020, Don Fort, the Chief of the IRS Criminal Investigation Division discussed current IRS initiatives and priorities including use of data to assist in criminal tax investigations, international cooperation among countries in tax fraud prosecutions, the use of crypto currency in tax crimes and the IRS role in investigating and prosecuting COVID-related stimulus fraud.
Bryan C. Skarlatos presented a webinar entitled “Ethical and Penalty Standards for Taking Positions on Tax Returns and Advising Clients” at the 51st Annual Sidney Kess New York Estate, Tax, & Financial Planning Conference
On September 23, 2020, Bryan C. Skarlatos presented major new developments in tax controversies and ethical considerations with Ernest Patrick Smith.
Yoram Keinan quoted in Bloomberg Tax article entitled “Interest Limitations Could Trip Anti-Abuse Tax for Some M&A”
In the article, Mr. Keinan comments on final IRS base erosion and anti-abuse tax (BEAT) rules (T.D. 9910; RIN: 1545-BP36), which Bloomberg explains “companies considering mergers or acquisitions will now need to account for the unused deduction of the companies they’re eyeing—or risk tripping an anti-abuse tax after the deal."
Bryan C. Skarlatos Presented a Webinar Entitled "Ethical & Penalty Standards: Taking Positions on Tax Returns & Advising Clients" for the CPA Academy
Bryan C. Skarlatos recently presented a webinar entitled "Ethical & Penalty Standards: Taking Positions on Tax Returns & Advising Clients" for the CPA Academy. This 2-hour webinar was originally offered on August 7, 2020, and re-broadcast on September 3 & 4, 2020.
Kostelanetz & Fink, LLP, is pleased to share that our offices in New York and D.C. have continued to grow. This summer was particularly exciting as we were joined by three summer associates and five new paralegals.
Yoram Keinan Quoted in Bloomberg Tax Article Entitled “U.S. Shareholders May See Second Tax After Offshore Tax Opt-Out”
In the article, Mr. Keinan comments on new final high-tax exclusion rules, under Section 954(b)(4) and Section 951A of the tax code, which Bloomberg explains has “expanded the kind of foreign income eligible to be free from U.S. tax if the income, known as global intangible low-taxed income (GILTI) is already taxed offshore at least 18.9%.”
SBA Issues Important New PPP Forgiveness Guidance – Owner Compensation and Nonpayroll Expenses, Including Related-Party Rentals
On August 24, 2020, the U.S. Small Business Administration (“SBA”) issued an interim final rule (“IFR”) with important guidance on previously unanswered questions about certain Paycheck Protection Program (“PPP”) loan expenses eligible for forgiveness. After months of silence from the SBA, the IFR, titled Treatment of Owners and Forgiveness of Certain Nonpayroll Costs, addresses who is subject to the owner-employee compensation rules and limits certain nonpayroll costs from eligibility for forgiveness, including related-party rent payments and expenses of home businesses.
NEW YORK (Aug. 27, 2020) — Eight Kostelanetz & Fink attorneys have been recognized by U.S. News – Best Lawyers® in the 2021 edition of The Best Lawyers in America
Robert Russell participated in a webinar entitled "IRS & Treasury Panel: Partnership Reporting (Inbound)" for the ABA
The American Bar Association (ABA), the American Institute of Certified Public Accountants (AICPA), and the Tax Executives Institute (TEI), along with the U.S. Treasury Department and the IRS, held a two-part series of webinars to discuss the proposed redesigned partnership form for tax year 2021 (filing season 2022). Robert Russell participated in part two, on August 18, 2020.