The IRS celebrated National Whistleblower Appreciation Day on July 30 to recognize the important role whistleblowers play in supporting the United States tax administration, but, in issuing his statement of appreciation, IRS Whistleblower Office Director John Hinman clearly used the opportunity to respond to tax professionals’ growing dissatisfaction with IRS
Caroline D. Ciraolo will moderate a panel titled “Bringing your client into compliance without coloring outside the lines” as part of the 5th Annual International Tax Conference hosted by the International Fiscal Association (IFA). The conference will take place virtually on September 10 & 11. Description: Your client failed to
Taxpayers Could Face Penalties, Interest, and Audits If Claims Are Found to Be Erroneous The Internal Revenue Service (IRS) is stepping up its rhetoric regarding potentially fraudulent Employee Retention Credit (ERC) claims, urging businesses to withdraw erroneous claims before the IRS reviews them and issues penalties. Today, the IRS shared
Before the end of the U.S. Supreme Court’s term in June, the Court issued a landmark decision in SEC v. Jarkesy, et al., holding that the Seventh Amendment entitles a defendant to a jury trial when the U.S. Securities and Exchange Commission (“SEC”) pursues civil penalties for securities fraud. The
Three Partners Also Named Leading Lawyers for High-Net-Worth Private Clients NEW YORK (July 22, 2024) — Kostelanetz LLP has been recognized by Chambers and Partners as a top-tier, Band 1 firm for high-net-worth private tax clients in its 2024 High Net Worth (HNW) Guide. In addition to the firm’s recognition, Megan L. Brackney, Bryan C. Skarlatos, and Caroline
Many nonprofits that were affected by the COVID-19 pandemic have financially benefited from claiming the Employee Retention Credit (ERC). But the ERC has become the source of considerable notoriety over the last several years and is now the focus of significant government enforcement activity. Originally enacted in 2020 as part
Michael Sardar was quoted in a July 5, 2024, MarketWatch article titled “What it’s like to be audited by the bigger, better-funded IRS. ‘They are pushing harder now.’” From the article: “With the IRS stepping up enforcement on upper-income taxpayers, Michael Sardar, a partner handling tax disputes at the law
On July 2, the IRS published proposed regulations providing that the IRS will assess as an underpayment of tax the interest paid to taxpayers on erroneous refunds of the employee retention credit (“ERC”), as well as other employment tax credits, such as the paid sick leave credit and the paid
On June 28, 2024, transgender activists, legal advocates, and currently unhoused transgender New Yorkers attended a press conference at Foley Square, regarding New York City’s obligation to provide transgender and gender nonconforming (“TGNC”) affirming shelter to unhoused New Yorkers. In a 2021 settlement resolving Mariah Lopez v. NYC Department of Homeless Services (DHS),
Over the years, the circuits have split on how to interpret the statute of limitations for bringing a facial challenge to a regulation or other agency action under the Administrative Procedure Act (“APA”). Yesterday, in Corner Post, Inc. v. Board of Governors of the Federal Reserve System, the Supreme Court
