Claude M. Millman was quoted in a recent New York Post article entitled “De Blasio Admin’s $34B Health Insurance Contract Doesn’t Add Up: Rival Bidder,” published on November 28, 2021. In the article, Millman comments on the City of New York’s recent procurement of a
The Internal Revenue Service Advisory Council (“IRSAC”) issued its yearly Public Report (the “2021 report”) on November 17, 2021, outlining recommendations to the IRS on new and ongoing tax administration issues. The purpose of IRSAC is to provide the Commissioner of the IRS with policy
Megan L. Brackney was quoted in a recent Tax Notes article entitled “Implementing the New Crypto Reporting Guidance,” published on November 22, 2021. Brackney analyzes the IRS’s existing verification rules for cash in 26 CFR 1.6050I in consideration of potential new verification rules for digital
Caroline D. Ciraolo was quoted in a recent Tax Notes article entitled “IRS Wants Seat at Debtors’ Bankruptcy Proceedings,” published on November 16, 2021. The article explores new IRS plans for agents to attend debtor-creditor negotiations in bankruptcy proceedings. The article notes: Guillot and Ciraolo
Changes and quirks in New York City’s “revolving door” rules for public officials may make a mess of things in December if City Commissioners and other agency executives leave their posts early to avoid unanticipated effects of a 2019 referendum on the City’s Charter. In
Caroline D. Ciraolo was quoted in a recent Tax Notes article entitled “Tax Enforcement Announcements Are Overused, Defense Attorneys Say,” published on November 2, 2021. The article explores the intended and unintended consequences of the IRS and Justice Department publicizing enforcement efforts on tax compliance,
Caroline D. Ciraolo was quoted in a recent Tax Notes article entitled “Maryland Tax Court Won’t Issue Opinion on Foreign Earned Income Matter,” published on October 22, 2021. The article addresses the refusal of the Maryland Tax Court to issue a decision on the merits
On October 15, 2021, The U.S. Department of the Treasury announced new sanctions compliance guidance in the virtual currency industry from the Office of Foreign Assets Control (OFAC) and the publication of Ransomware Trends in Bank Secrecy Act Data by the Financial Crimes Enforcement Network
Megan L. Brackney was quoted in a recent CBS News article entitled “What’s Inside The Treasury’s Proposal To Track Nearly All Bank Accounts,” published on October 18, 2021. The article describes a recent Treasury proposal that would require banks to report annual gross in-flows and
