In a recent New York Times article entitled “An Accidental Disclosure Exposes a $1 Billion Tax Fight With Bristol Myers,” Bryan C. Skarlatos weighed in on the potential outcome of a tax controversy between the Internal Revenue Service and Bristol Myers Squibb, an American drugmaker.
By Dan Davidson and Destiny Reese PLI Chronicle March 2021 Issue Over 70% of federal tax filings in 2019—including almost 90% of individual income tax returns—were filed electronically. Yet, as tax practitioners know, many federal tax forms continue to require “wet” signatures. Even before the COVID-19
Caroline D. Ciraolo was quoted in a recent Tax Notes article entitled “Practitioners Fear Pandemic’s Impact on Voluntary Disclosures,” published on March 25, 2021. The article focuses on discussion from a recent panel hosted by the District of Columbia Bar Taxation Community entitled “IRS Undeterred:
The Ninth Circuit Court of Appeals recently ruled in favor of a taxpayer subject to a non-willful civil penalty for failure to timely file an accurate Foreign Bank Account Report (FBAR), agreeing with a position advanced in a friend of the court brief written by
By Christopher M. Ferguson and Hannah Ambinder On March 3, 2021, the Financial Action Task Force (FATF) and Egmont Group of Financial Intelligence Units (Egmont Group) released Trade-Based Money Laundering: Risk Indicators, a publication outlining anti-money laundering risk factors. The FATF Report’s purpose is to
New York, NY (March 16, 2021) — Kostelanetz & Fink partner Claude M. Millman has been recognized for the second consecutive year in City & State NY’s “Law Power 100” list. According to City & State NY, the “Law Power 100” is a list of “leading legal professionals” who
In a recent Bloomberg article entitled, “Tax Hikes on Rich Loom If Treasury Revives Hard Look at Estates,” Ian Weinstock weighed in on the new Biden administration’s potential priorities regarding stepped up audits of high-wealth individuals’ estate tax, gift tax and fiduciary income tax returns.
John D. (Don) Fort was quoted in a recent Tax Notes article entitled “IRS Data Analytics Pros Still See Need for Human Touch,” published on March 8, 2021. Fort commented on the limits that bound the usefulness of the computerized tools that the IRS uses
