Caroline Ciraolo was interviewed for the American Citizens Abroad (ACA) TaxCast podcast. Part 1 of her interview was posted May 15, 2020, and Part 2 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."
This spring, Caroline D. Ciraolo and Robert M. Russell have been bringing their decades of experience in federal tax enforcement and tax controversy matters to Georgetown University Law Center and Graduate Tax Program in a class entitled, “International Tax Controversy.”
Caroline D. Ciraolo quoted in Tax Notes article entitled "Another District Court Weighs in Favor of FBAR Survivability"
In a recent Tax Notes article by Andrew Velarde entitled “Another District Court Weighs in Favor of FBAR Survivability, Caroline Ciraolo reacted to recent rulings on whether penalties for willful failure to file foreign bank account reports can survive the death of the nonfiler. As Caroline noted, the court’s remedial determination ignores a decade of practice in how the civil FBAR penalty has been imposed.
Caroline D. Ciraolo and Bryan C. Skarlatos quoted in Tax Notes article entitled "Texas Law Firm Must Comply With IRS John Doe Summons"
Caroline D. Ciraolo and Bryan C. Skarlatos were quoted in Tax Notes article entitled "Texas Law Firm Must Comply With IRS John Doe Summons,” regarding a recent Fifth Circuit ruling upholding an order “requiring a Texas law firm to turn over information on clients with offshore structures in response to an IRS John Doe summons,” according to the article.
Bryan C. Skarlatos quoted in New York Times article entitled "From Afar, a Fugitive in the Knoedler Art Fraud Gives His Defense"
Kostelanetz & Fink partner Bryan Skarlatos was quoted and his photograph was featured in the New York Times this weekend regarding an art fraud case that has been described as “one of the largest art world scandals of recent times.” Mr. Skarlatos represents one of the co-conspirators in the case.