Megan L. Brackney was quoted in a Bloomberg Tax article published May 20, 2024 titled “Wealthy Taxpayers Prep Years-Late Returns Ahead of IRS Crackdown.” Following a February 2024 announcement from the IRS that the agency would be pursuing wealthy taxpayers who failed to file their returns, a flurry of wealthy
Christopher M. Ferguson was quoted in a Tax Notes article titled “Employee Retention Credit Adviser Urges Court to Lift Moratorium,” on May 16th. The article discusses the potential implications of an injunction filed on May 14th with the U.S. District Court for the District of Arizona that could require the
Andy Weiner was quoted in a Bloomberg Tax article titled “Wealthy Taxpayers Alerted to Leaked Data Years After IRS Breach,” on April 24th. The article discusses IRS notices going out to taxpayers whose tax return information was compromised by Charles Littlejohn, sentenced to five years in prison for mishandling the return information
On May 6, 2024, Kostelanetz attorneys Brian Wille and Usman Mohammad filed an amicus brief with the United States Court of Appeals for the D.C. Circuit in a tax whistleblower case captioned In re Sealed Case, D.C. Circuit Case No. 24-1001. Kostelanetz filed the amicus brief on behalf of another
The Internal Revenue Service recently wrapped up its 2024 “Dirty Dozen” campaign by warning taxpayers about promoters selling bogus tax strategies and fraudulent offshore schemes designed to reduce or avoid taxes. In its April 11 announcement, the IRS reminded taxpayers to “[r]ely on a reputable tax professional they know and
Ciraolo Named to Top 50 Women and Nanavati Selected Among Top 100 Lawyers for 2024 WASHINGTON, D.C. (April 22, 2024) — Super Lawyers has selected Caroline D. Ciraolo and Jay R. Nanavati as “Top” attorneys in Washington, D.C., with Caroline being named to the rating agency’s “Top 50 Women” and Jay being selected among
The upcoming 2024 ABA May Tax Meeting is the premier event for lawyers interested in all aspects of tax law. Among a variety of panels, forums, and discussions, program offerings include a Women in Tax Forum sponsored by Kostelanetz LLP and a panel on the importance of interview notes in
On April 10, 2024, as part of the Dirty Dozen campaign, the Internal Revenue Service warned the public about three tax traps specifically targeted at wealthy individuals. The three tax traps include: Improper art donation deductions Charitable remainder annuity trust Monetized installment sales Improper Art Donation Deductions While there are
By Megan L. Brackney and Vishan Chaudhary The CPA Journal January/February 2024, Featured Columns, Taxation In their article for The CPA Journal, Megan L. Brackney and Vishan Chaudhary outline an approach for tax advisors responding to clients who ask for advice or assistance on what might sound like evasion of
The Director of the Financial Crimes Enforcement Network (FinCEN), Andrea Gacki, recently highlighted FinCEN’s initiatives to boost transparency in the U.S. financial system. Beneficial Ownership Information Registry: Director Gacki described FinCEN’s launch of the beneficial ownership information registry (/boi), where small businesses can report information about their beneficial owners, i.e.,
