Service Hopes Taxpayers Will Take a Second Look at Paid Claims The Internal Revenue Service (IRS) today announced the temporary reopening of the Voluntary Disclosure Program (VDP) for potentially erroneous Employee Retention Credit (ERC) claims. Participation in the VDP allows businesses to repay improper ERC payments at a 15% discount
NEW YORK (August 15, 2024) — Best Lawyers in America® has recognized 15 Kostelanetz attorneys for its 2025 edition. Individual lawyers at Kostelanetz LLP have been recognized for their work in the firm’s key practice areas of tax law, tax controversy, and tax fraud, including litigation; white-collar criminal defense; commercial litigation; and trusts
50,000 low-risk claims could be paid as soon as September The Internal Revenue Service (IRS) touted its rejection of thousands of ERC claims in the agency’s latest update on Employee Retention Credit (ERC) claims today. The announcement contains updated information on claims disallowances but also some good news for businesses
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
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
By Daniel C. Davidson ABA White Collar Crime Committee Newsletter July 2024 Earlier this year, the Department of Justice (“DOJ”) and Federal Trade Commission (“FTC”) jointly announced updated language in the agencies’ documents requests (such as preservation letters and grand jury subpoenas) “to address the increased use of collaboration tools
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
“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
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
