Claude Millman was quoted in an article entitled “’Definitely Not a MeToo Thing’: Chair to CEO Accused of Sexual Misconduct,” Agenda on August 30, 2019
Agenda, the magazine for board directors about corporate board news, turned to Kostelanetz & Fink partner Claude Millman for comments about how members of a corporate board should handle an investigation of #MeToo allegations.
Law360 quoted Kostelanetz & Fink LLP partner Bryan Skarlatos in their recent article on the Internal Revenue Service’s major initiative to ensure that cryptocurrency users pay their fair share of tax.
Mr. Skarlatos told Law360 that "...the 2014 guidance, though incomplete, combined with the assumption that cryptocurrency users would comply with generally accepted tax principles, is likely sufficient for the vast majority of cryptocurrency users to at least make a good-faith effort when filing. I think that for 95% of the transactions out there, you have enough guidance to know what you should do” under the current regulatory framework, Skarlatos said.
Caroline D. Ciraolo participated in the panel “Cooperation or Compulsion: The Emerging U.S. Experience with Voluntary and Involuntary Disclosures of Foreign Transactions,” at the 37th Annual Cambridge International Symposium on Economic Crime
In considering how to better discourage and control economic crime we examined the real threats facing our economies and, in particular, those who look after other people’s wealth not just from criminals and terrorists, but also indirectly as a result of law enforcement and regulatory intervention. We also contexted these risks and the responses not only in terms of the law, but also regulation and especially compliance practice.
Caroline D. Ciraolo presented "Preserving Confidentiality in Cross Border Investigations," at the 37th Annual Cambridge International Symposium on Economic Crime
The focus for the 37th symposium was the shared responsibility borne by public and private bodies, across international borders, to fight economic crime. In particular, it looked at the flow of information between agencies and the business world, and how to tackle the issues that this presents. In addition to its keynote speeches and focal discussions each day, there were a host of alternative programmes, plenary sessions and workshops that enabled attendees to share their knowledge, garner new skills, and build new connections.
Bryan C. Skarlatos quoted in "IRS to Cryptocurrency Owners: Come Clean, or Else!", The Wall Street Journal
The Wall Street Journal quoted Kostelanetz & Fink LLP partner Bryan Skarlatos in their recent article on the Internal Revenue Service’s crackdown on Americans who have not reported income from cryptocurrencies. On his advice to clients who may have made money from crypto, Mr. Skarlatos said, “I tell them, ‘It’s time to put your running shoes on.’ You must get to the IRS before they find you, especially if you got a letter.”
NEW YORK (August 15, 2019) — Kostelanetz & Fink is pleased to announce that The Best Lawyers in America has recognized six of its attorneys in its 2020 edition. The Best Lawyers in America (2020 edition), released August 15, 2019, recognizes the firm’s attorneys in the areas of Litigation and Controversy – Tax, Tax Law, Commercial Litigation, and Criminal Defense: White Collar. The annual list is based on a peer review process and reflects the consensus opinion of leading lawyers about the professional abilities of their peers within the same geographical regions and practice areas, according to the Best Lawyers website.
The IRS has selected two longtime agency executives, Eric Hylton and Tamera Ripperda, to take over as heads of the Small Business/Self-Employed Division and the Tax-Exempt and Government Entities Division, respectively.
Current SB/SE Deputy Commissioner Ripperda will replace TE/GE Commissioner Sunita Lough, who will take over as deputy commissioner of services and enforcement starting September 1. IRS Criminal Investigation Deputy Chief Hylton will then become head of SB/SE, according to an IRS release.
NEW YORK AND WASHINGTON (July 29, 2019) – Kostelanetz & Fink, LLP is pleased to announce that it is expanding its Washington, D.C. office by bringing on Robert Russell, a prominent domestic and international tax planning and controversy attorney with broad experience in government enforcement and tax policy developed during his tenures with the Internal Revenue Service, U.S. Department of Treasury Office of Tax Policy, and Joint Committee on Taxation. Mr. Russell’s arrival, the latest in a handful of recent additions to the D.C. office, enhances Kostelanetz & Fink’s already impressive tax controversy and tax planning practice.
Some cryptocurrency holders are now disclosing past tax lapses to avoid potential criminal prosecution.
Bryan Skarlatos, a lawyer with Kostelanetz & Fink with several such cases, reminds cryptocurrency investors of the IRS’s success in piercing the veil of Swiss bank secrecy. Since 2009, more than 56,000 Americans who hid money in offshore accounts have paid more than $11 billion to resolve tax issues.
"Digital currency holders shouldn’t think they can hide from the IRS," he says.
Smaller investors are also feeling heat. Many traded during last year’s price spike, and tax preparers are now asking clients routinely about cryptocurrency sales. They aren’t supposed to sign returns with unreported income.
Caroline D. Ciraolo moderated a panel titled "Ethical Pitfalls and How to Avoid Them When Representing Clients in IRS Collections and Audits," at the University of San Diego School of Law - RJS LAW Tax Controversy Institute 2019
The Institute is the premier tax controversy event in San Diego. The region's top tax attorneys, CPAs, and law/business school professors discussed topics including passthrough planning, Wayfair, ethical pitfalls to avoid in practice, and employee classification issues in California.