Jay R. Nanavati was quoted in a New York Times article published May 28, 2024 titled “I.R.S. Failed to Police Puerto Rico Tax Breaks, Whistle-Blower Says.” The New York Times reported that an I.R.S. insider has accused the agency of failing to police tax breaks taken in Puerto Rico. From
Caroline D. Ciraolo was quoted in a Tax Notes article titled “IRS Penalty Practice May Be Due for Reset,” published on August 16, 2023. The article addresses the current state of penalty administration and notes Caroline Ciraolo’s concerns regarding the Internal Revenue Service’s current approach to the consideration and assessment
On August 15th, 2023, Caroline Ciraolo participates in a webinar panel titled “IRS Penalty Policy and Practice” as part of a webinar series titled “Transforming Tax Administration” presented by Center for Taxpayer Rights. Description: Center for Taxpayer Rights presents a series of webinars from March 23, 2023 through August 31,
On June 8, 2023, Jay Nanavati moderates a panel titled “Puerto Rico’s Act 20/22 Tax Incentive Program: Residency And Sourcing Under The IRS’s Microscope” at the 2023 NYU Tax Controversy Forum. Description: Since their passage in 2012, Puerto Rico’s Acts 20 and 22, known together as Act 60 since 2019,
On April 5, 2023, the IRS announced the final entries to its annual Dirty Dozen list for 2023, sounding the alarm about various schemes and potentially abusive transactions that target taxpayers and businesses all year round, but particularly during tax season. The list warns of swindles through electronic communication, like
Jay Nanavati participates in a conference entitled “Cocktails & Compliance” for the the 20/22 Act Society in San Juan, Puerto Rico, on March 31, 2023. Description: Jay Nanavati and Tom Duffy will address members of the 20/22 Act Society regarding tax compliance, IRS and DOJ enforcement initiatives, and defending potential
