Jay R. Nanavati participated in a panel presentation titled "A World of Lies: The Truth Behind the Tax Protestor Arguments" at the 3rd Annual Criminal Tax Day
For decades lies and mistruths have been advanced by individuals and groups unhappy with the United States Income Tax. These individuals and groups often twist facts into more suitable positions to advance their agenda. Many of these fabrications were reviewed and dissected in the recent United States Tax Court Decision in Waltner vs. Commissioner. Our esteemed panel reviewed the case and enlightened the attendees to the truth and fiction of the arguments put forth by “tax protestors.”
Jay R. Nanavati participated in a panel presentation titled "The Interplay Between IRS and State Criminal Tax Investigations" at the 3rd Annual Criminal Tax Day
More frequently than ever, when targets of a criminal tax investigation open their door they will be confronted by three government agents: two from the IRS’s Criminal Investigation Division and one special-agent from the State Department of Revenue Services. This panel discussed the interplay between state and federal tax crimes, and what role the state tax crimes will play in the upcoming investigation and prosecution.
MICHAEL SARDAR PARTICIPATED IN A PANEL PRESENTATION TITLED "WHAT’S NEW IN CRIMINAL TAX" AT THE 3RD ANNUAL CRIMINAL TAX DAY
A panel of experts updated attendees on the latest priorities and trends in IRS criminal Enforcement, including cyber-crimes, crypto-currency, marijuana, payroll tax crimes, money laundering and good-old-fashioned income tax evasion.
Moderator: Lisa E. Perkins, Green & Sklarz LLC, West Hartford, CT
Caroline D. Ciraolo participated in a panel titled "Current Issues in Government Investigations" at the Federal Bar Association
Michael Sardar participated in the panel titled "Reports Of Subcommittees On Important Developments" at the ABA Section of Taxation, May Tax Meeting
Important developments in Offshore Compliance and Enforcement.
Caroline D. Ciraolo and Megan L. Brackney participated in the panel titled "Are Your Secrets Safe? A Discussion Of The Scope, Application And Protection Of Legal Privileges In The US And Abroad" at the ABA Section of Taxation, May Tax Meeting
Information is power and, in civil audits and criminal investigations, the government seeks to identify and obtain as much information as possible. To the extent such information falls within a recognized legal privilege, it is up to counsel for the taxpayer or target to timely and properly assert the applicable privilege and defend that privilege if the government seeks to compel production. This panel of experienced tax litigation and controversy attorneys addressed the common privileges that arise in tax matters, the holder and scope of those privileges, the extent to which such privileges can be waived or set aside, and how to navigate these waters in foreign jurisdictions and cross-border investigations.
Yoram Keinan and Stow Lovejoy participated in the panel titled "The Current State of the Economic Substance Doctrine and its Effect on Financial Institutions" at the ABA Section of Taxation, May Tax Meeting
The economic substance doctrine was “codified” in 2010, effective for transactions after March 31, 2010, and a new strict liability penalty added for economic substance understatements. While the IRS and Treasury provided initial guidance on the application of the codified doctrine and the penalty, only a handful of cases have considered post-codification transactions. This panel discussed how the economic substance doctrine has developed since codification and the extent to which the doctrine and the penalty should concern financial institutions in planning and examinations.
CAROLINE D. CIRAOLO PARTICIPATED IN THE PANEL TITLED "COLLECTION-BASED TAX CRIMES" AT THE ABA SECTION OF TAXATION, MAY TAX MEETING
Fraud referrals for collection-based tax crimes are on the rise as the IRS seeks to close the tax gap. This panel provided current statistics on, and review of, the tax crimes most likely to be encountered in collection, including willful failure to collect tax, fraud and false statements, and attempts to interfere with the administration of the internal revenue laws. The panelists also discussed practical approaches to handling civil collection cases with criminal implications and how to navigate a criminal collection case.
Michael Sardar participated in the panel "Asset Protection And Offshore Assets: Hide And Seek In The World Of Divorce" at the AAML/BVR National Divorce Conference
Brought to you by the American Academy of Matrimonial Lawyers (AAML) and Business Valuation Resources (BVR), the National Divorce Conference brought together the leading matrimonial attorneys and financial experts for the only event of its kind.
Paul Butler participated in the panel titled "Statutes of Limitations in Tax Litigation: Friend or Foe?" at the ABA Section of Taxation, May Tax Meeting
Statutes of limitations are an important, but often overlooked, aspect of tax litigation that can work to the advantage or the detriment of a party. Most practitioners are familiar with the general three-year period of limitation on assessment, as well as basic exceptions, including those for a false return, no return, or a substantial omission of gross income. This panel addressed more nuanced rules affecting statutes of limitations in tax, including the interplay of section 6511(a) and (b) in refund suits (and, as appropriate, Tax Court litigation), the failure to notify the IRS of certain foreign transfers, and the failure to disclose listed transactions. The panelists also discussed strategies for navigating statute of limitation issues in litigation, as well as the effect of the government shutdown on both statute of limitations and filing deadlines with courts and the IRS.