Publications Archives - Page 3 of 26

When Past Is Prologue: Why the Justice Department’s Revised Corporate Enforcement Policies May Create More Problems Than They Solve

By Sharon McCarthy and Christopher Ferguson American Bar Association Criminal Justice Section, The White Collar Crime Committee Newsletter Summer/Fall 2023 Edition We are all familiar with the aphorism that those who forget history are condemned to repeat it. The Department of Justice’s (“DOJ” or the

IRS Criminal Probe Spells Uncertainty For Malta Pension Plans

By Michael Sardar, Don Fort, and Caroline Ciraolo Law360 July 28, 2023 Malta pension plan arrangements under the U.S.-Malta income tax treaty have been a focus of the Internal Revenue Service and U.S. Department of the Treasury for more than two years. That focus intensified

An Inconvenient Truth About Remote Work

By Stephen A. Josey CPA Journal May/June 2023 The “convenience of the employer” rule for sourcing income to a particular state is anything but convenient for tri-state taxpayers. Most states that levy an income tax look to where an employee’s work is performed in determining

Revisions to Form 14457 Could Facilitate Crypto Disclosures

By Garrett L. Brodeur and Mia Bailey Tax Notes Federal July 10, 2023 The IRS considers voluntary compliance to be the “cornerstone of our tax system,” but the application form for the IRS’s voluntary disclosure practice (VDP), Form 14457, “Voluntary Disclosure Practice Preclearance Request and

IRS’s Efforts in Providing Cryptoasset Guidance are Clear

By Garrett L. Brodeur Tax Notes Federal July 3, 2023 In a recent Letter to the Editor, Garrett L. Brodeur noted that several recent informal guidance documents on the tax treatment of cryptoassets suggest that the IRS is striving to provide meaningful direction, even under

The State of the Tax Whistleblower Law

By Usman Mohammad and Ashley Morales ABA Tax Times June 2023 Internal Revenue Code section 7623(b) provides mandatory awards to whistleblowers who provide information to the IRS that results in the collection of additional tax, interest, penalties or fines from corporations, high net worth individuals,

What CPAs Need To Know About Employee Retention Credit Fraud

By Christopher M. Ferguson and David Taylor The CPA Journal March/April 2023 Most taxpayers have likely received a solicitation recently claiming that they may be entitled to thousands of dollars in employee retention tax credits. The solicitations involve the Employee Retention Credit (ERC), a payroll

ChatGPT – A Piece Of The Puzzle, Not A Panacea

By Garrett L. Brodeur and Liz Grant Bloomberg Tax Management Memorandum May 1, 2023 After a string of failures in the cryptocurrency industry and the emergence of artificial intelligence (‘‘AI’’), many observers would likely agree that crypto is tired and AI is wired. AI is

Puerto Rico’s Act 60 Tax Incentive Program Attracting Heightened IRS Scrutiny Of Sourcing And Transfer Pricing

By Jay R. Nanavati and Mariana Gusdorf Journal of Tax Practice & Procedure Volume 25, Issue 1, 2023 Since their passage in 2012, Puerto Rico’s Acts 20 and 22, known together as Act 60 since 2019, have encouraged many individuals and businesses, especially from the

Natural Disasters And Tax Consequences: Individuals And Businesses Take Note

By Sidney Kess New York Law Journal April 26, 2023 It seems that natural disasters are occurring more frequently. Both the East Coast and West Coast have recently been devastated by various storms, and some central states have been hit by tornadoes. The IRS has