Kostelanetz & Fink and the NYU School of Professional Studies were pleased to present the 10th Annual Tax Controversy Forum. The Tax Controversy Forum brought together representatives from the government and expert private practitioners to compare perspectives on a variety of topics involving federal tax audits, appeals, and litigation.
Michael Sardar participated in the panel titled "International Tax Enforcement Update" at the Hackensack Performing Arts Center
This year's update reviewed the life-cycle of an international tax controversy, including the most common errors on returns required to be filed by US Persons reporting foreign assets and income and the procedures used by the IRS to determine a liability based on foreign income, deductions, and assets.
The number of accuracy-related penalties assessed against individual taxpayers increased from 58,366 in 2005 to 499,190 in 2016. That is nearly a 900% increase over the past decade! Are there more bad taxpayers? Or, is the IRS just getting more aggressive about asserting penalties?
The IRS is continuing to focus its resources and attention on unreported foreign assets. Foreign financial institutions are implementing and executing procedures to identify US taxpayers and report them to the IRS.
Caroline D. Ciraolo participated in the panel titled "Answers Needed: Tax Research For Tax Problem Resolution Practitioners" at the 2018 IRS Tax Problem Resolution Spring Conference
Every Enrolled Agent, CPA, or attorney, on occasion, needs to research an important tax problem issue for their client. You may need to examine the required procedures for filing a lien or levy when you believe the IRS has violated proper procedure. When you encounter threats from a rogue Revenue Officer, you need to research her rights to do what she is threatening.
Sharon L. McCarthy participated in the panel titled "International Tax Enforcement And Offshore Reporting" at the 34th Annual Texas Federal Tax Institute
This panel included a lively discussion of current international tax enforcement issues and offshore reporting developments from seasoned legal experts and IRS counsel active in the field. The Institute provided high-level information and practical advice for tax practitioners and executives with a strong Federal tax background.
NEW YORK (MAY 25, 2018) — Kostelanetz & Fink, LLP, has been awarded the prestigious Chambers USA award for team excellence in tax, recognizing the firm’s impressive body of work, growth, and client service over the previous year.
Claude M. Millman participated in the panel titled "Ethics Is A Two-Way Street: Why Contractors, Grantees, And Lobbyists Can't Ignore NYC's Ethics Rules" at the 24th Annual Citywide Seminar on Ethics in City Government
It's often said that ethics is a "two-way street," with many questions turning on public servants' personal interactions with firms they deal in their official capacity.
Megan L. Brackney participated in the panel titled "Bringing Your Client In From The Cold" at the Quinnipiac University 2nd Annual Criminal Tax Day
Many clients either fail to report items or claim items on their tax returns that have no basis in fact. What do you do with the client who needs to clean up their issues before the IRS funds the issue? This panel reviewed options for cleaning up back tax issues, including amending tax returns and utilizing the voluntary disclosure program, and when practitioners should consider one option over the other.
Megan L. Brackney participated in the panel titled "Dealing With The Undocumented Worker" at the Quinnipiac University 2nd Annual Criminal Tax Day
Businesses that hire undocumented employees have many issues, not the least of which are payroll tax problems, Department of Labor issues and immigration violations. Our panel walked through these issues and what you can do for your client before the IRS shows up, and what can be done after its agents knock on the client’s door.