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
By Abigail Burke ABA Tax Times Volume 43, No. 1 – Fall 2023 This article summarizes the tips for effective Tax Court advocacy presented in the ABA’s virtual CLE presentation titled “Making Your Case in Tax Court: Advocacy Tips.” […] Click here for the full
This spring, Caroline Ciraolo and Victor Jaramillo will bring their decades of experience in federal tax enforcement and tax controversy matters to Georgetown University Law Center and Graduate Tax Program in a class entitled, “International Tax Controversy.” Professors Ciraolo and Jaramillo will concentrate the course
By Don Fort Bloomberg Tax December 18, 2023 The Covid-19 pandemic brought about a once-in-a-generation health crisis, also creating a surge in fraud. Earlier this month, the IRS’s Criminal Investigation Division unveiled a conspicuously high conviction rate—over 98% for the more than 300 Covid-19 fraud
On December 21, 2023, the IRS announced a much-anticipated Voluntary Disclosure Program (“the Program”) that allows businesses to repay funds received as a result of filing erroneous Employment Retention Credit (ERC) claims. Program participants are required to pay back 80 percent of improper ERC refunds
BALTIMORE (December 14, 2023) — Caroline D. Ciraolo has been selected for inclusion on the 2024 Maryland Super Lawyers list as a “Top Rated Tax Attorney in Baltimore, MD.” Caroline co-founded Kostelanetz LLP’s Washington, D.C., office in 2017 and maintains an office in Baltimore to better serve Maryland-based clients.
Last week, partners and associates from Kostelanetz attended the American Bar Association’s 40th Annual National Institute on Criminal Tax Fraud and the 13th Annual National Institute on Tax Controversy. Partners Bryan C. Skarlatos, Caroline D. Ciraolo, Megan L. Brackney, and Michael Sardar, along with Director of Investigations
ERC Voluntary Disclosure Program Coming Later This Month The IRS announced today that it is sending an initial round of more than 20,000 letters disallowing questionable ERC claims. The IRS also advised that it will open a voluntary disclosure program later this month establishing procedures
On November 22, 2023, the U.S. Treasury Department Financial Crimes Enforcement Network (FinCEN) issued an alert urging financial institutions to be vigilant about identifying and reporting possible fraud schemes related to the COVID-19 Employee Retention Credit (ERC). FinCEN issued the alert “in close coordination” with
Andy Weiner was quoted in an article published by The Washington Post on November 27, 2023, titled “This lawsuit could disrupt the U.S. tax system. Key facts are in dispute.” The article discusses Charles G. Moore et al. v. United States (No. 22-800) in the Supreme
