On the heels of a significant boost in funding brought by the August 2022 passage of the Inflation Reduction Act (“IRA”), the IRS this week announced new efforts to combat what it sees as abusive transactions and strategies utilized by businesses that are taxed as
“Big Law Quality Services in a Boutique Setting” “An Expert Tax Boutique” NEW YORK (June 11, 2024) —Kostelanetz LLP and five partners have been recognized by Chambers and Partners in its 2024 USA Guide in the areas of tax controversy, tax fraud, tax law, and white-collar defense and
Offices in NYC, DC, and Atlanta to Expand Reach of Combined Firm’s Sophisticated Tax Controversy and White-Collar Criminal Defense Practices NEW YORK (June 4, 2024) — Kostelanetz LLP, with one of the country’s premier boutique tax and white-collar criminal defense practices, has combined forces with
By Ian Weinstock and Heather Fincher For nearly thirty years, taxpayers have been waiting for the IRS to issue regulations related to foreign trusts and foreign gifts. Since 1996, when Congress enacted a myriad of provisions to prevent tax avoidance through the use of foreign
The Internal Revenue Service recently wrapped up its 2024 “Dirty Dozen” campaign by warning taxpayers about promoters selling bogus tax strategies and fraudulent offshore schemes designed to reduce or avoid taxes. In its April 11 announcement, the IRS reminded taxpayers to “[r]ely on a reputable
Ciraolo Named to Top 50 Women and Nanavati Selected Among Top 100 Lawyers for 2024 WASHINGTON, D.C. (April 22, 2024) — Super Lawyers has selected Caroline D. Ciraolo and Jay R. Nanavati as “Top” attorneys in Washington, D.C., with Caroline being named to the rating agency’s “Top 50
On April 10, 2024, as part of the Dirty Dozen campaign, the Internal Revenue Service warned the public about three tax traps specifically targeted at wealthy individuals. The three tax traps include: Improper art donation deductions Charitable remainder annuity trust Monetized installment sales Improper Art
Kostelanetz LLP has filed an amicus brief on behalf of the American College of Tax Counsel (ACTC) in Diane Zilka v. Tax Review Board City of Philadelphia (No.23-914), a case involving Philadelphia’s wage tax where the petitioner is seeking a writ of certiorari from the
NEW YORK (January 29, 2024) — Kostelanetz partner Claude Millman has been selected to City & State’s Fifty Over 50 list honoring “the contributions and legacies of fifty venerable New Yorkers,” according to City & State. The awards are also sponsored by AARP NY. Describing
Proposed Bill Would Bar ERC Claims After January 31 and Increase Promoter Penalties Today, House Ways and Means Committee Chairman Jason Smith (R-Mo.) and Senate Finance Committee Chairman Ron Wyden (D-Ore.) proposed a bipartisan bill that would bar the filing of Employee Retention Credit (“ERC”) claims after
