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. On September 3, Don delivered
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 fraud involving shell companies prevalent
Megan L. Brackney will moderate a panel titled “Enforcement Trends: What’s Hot and What’s Not” at the 2023 IRS Representation Conference on December 1st, 2023. The conference will be held both in-person and virtually. The events are hosted at the Mohegan Sun Hotel & Casino, CT and by the Quinnipiac
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 a specific interpretation of the
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 Act. Though the IRS strategic
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
Caroline Ciraolo Also Selected ‘Lawyer of the Year’ NEW YORK (August 17, 2023) — Thirteen Kostelanetz attorneys, including all ten partners, have been recognized by “Best Lawyers in America®” in the 2024 edition, and Caroline D. Ciraolo has been named “Lawyer of the Year” for Litigation and Controversy – Tax
As part of a broader effort reflected by the Corporate Transparency Act to combat the use of shell companies for illicit purposes, the Financial Crimes Enforcement Network within Treasury, or FinCEN, issued FinCEN Notice FIN-2023-NTC1 (Aug. 15, 2023) designed to promote reporting by U.S. financial institutions regarding payroll tax evasion and workers’
By Daniel Cady Davidson New York State Bar Association Journal August 16, 2023 For the trial attorney, familiarity with prosecution witnesses’ statements is fundamental to effective trial preparation. A recent federal health care fraud case in Texas (U.S. v. Swiencinski) underscores just how critical it is for defense counsel to
More than four years ago, the Internal Revenue Service (“IRS”) expressed serious concern about monetized installment sales that, through the use of an intermediary and an installment note, purport to defer recognition of gain and income tax due on the sale of appreciated assets despite the seller’s effective, immediate receipt
