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 Originally enacted in 2020 as part
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
Justices Avoid Addressing the Limits of Congress’s Authority to Tax Income Under the Sixteenth Amendment The U.S. Supreme Court in Charles G. Moore v. United States (No. 22-800), by a 7-2 vote, rejected a constitutional challenge to the Mandatory Repatriation Tax (“MRT”) imposed by IRC 965. The MRT is a
On the heels of a significant boost in funding brought by the August 2022 passage of the Inflation Reduction Act (“IRA”), the IRS this week announced new efforts to combat what it sees as abusive transactions and strategies utilized by businesses that are taxed as partnerships. This is another IRS
“Big Law Quality Services in a Boutique Setting” “An Expert Tax Boutique” NEW YORK (June 11, 2024) —Kostelanetz LLP and five partners have been recognized by Chambers and Partners in its 2024 USA Guide in the areas of tax controversy, tax fraud, tax law, and white-collar defense and government investigations. Chambers this year has
On May 30, 2024, Bryan Skarlatos presented on “Recent United States Initiatives to Enforce Integrity” with Ian M. Comisky of Fox Rothschild LLP as part of Lawline’s CLE programming. Description: The Corporate Transparency Act was enacted as part of the Anti-Money Laundering Act of 2020. In particular, 31 U.S.C. § 5336
Offices in NYC, DC, and Atlanta to Expand Reach of Combined Firm’s Sophisticated Tax Controversy and White-Collar Criminal Defense Practices NEW YORK (June 4, 2024) — Kostelanetz LLP, with one of the country’s premier boutique tax and white-collar criminal defense practices, has combined forces with Atlanta-based WELTY PC to create
By Ian Weinstock and Heather Fincher For nearly thirty years, taxpayers have been waiting for the IRS to issue regulations related to foreign trusts and foreign gifts. Since 1996, when Congress enacted a myriad of provisions to prevent tax avoidance through the use of foreign trusts and gifts, taxpayers have
Daniel C. Davidson was quoted in a February 14, 2024 Law360 article titled “First Purely Tax Crypto Indictment Signals More On Tap” on the financial activities likely to capture the IRS criminal unit’s attention in the crypto sphere. The article discusses possible implications of the Department of Justice’s early February
