IRS Also Forecasts ERC Settlement Program On September 14, 2023, IRS Commissioner Danny Werfel ordered an immediate moratorium on the processing of Employee Retention Tax Credit (“ERC”) claims. According to the IRS, the moratorium will be in place through at least December 31, 2023. The moratorium
Caroline D. Ciraolo and Director of Investigations Don Fort recently attended the 40th Cambridge International Symposium on Economic Crime held at Jesus College in Cambridge University. The two delivered keynotes and moderated panel discussions about some of the biggest challenges in financial crime cases today.
By Andrew Weiner and Jay R. Nanavati Law360 September 6, 2023 On Aug. 15, the Financial Crimes Enforcement Network within the U.S. Department of the Treasury issued Notice FIN-2023-NTC1 to advise U.S. financial institutions of the need to report payroll tax evasion and workers’ compensation
NEW YORK (September 5, 2023) — Kostelanetz LLP has been recognized by International Tax Review/World Tax as a top-tier firm for tax controversy in the publication’s 2024 rankings guide. Additionally, four of the firm’s partners have been recognized as “Highly Regarded” tax controversy practitioners. Both the
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Garrett L. Brodeur was quoted in an August 25th, 2023 Law360 article titled “IRS Floats First-Ever Broker Rules For Digital Asset Sales.” Treasury and the IRS recently released new proposed rules to govern transactions involving digital assets such as cryptocurrency and nonfungible tokens. Under the
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By Caroline Ciraolo, Don Fort, and Ian Weinstock Bloomberg Tax August 28, 2023 High-net-worth US taxpayers, working with professional advisers, have transferred assets into personal retirement plans established in Malta to limit and potentially eliminate tax on distributions. These so-called Malta pension plans rely on
Bryan C. Skarlatos, partner at Kostelanetz LLP, was quoted in an article published in Tax Notes on August 23rd, 2023 titled “The FATCA Haystack Remains Just That.” The article discusses unknowns regarding data collected by the Internal Revenue Service through the Foreign Account Tax Compliance
