On March 6, 2024, Caroline D. Ciraolo speaks on a panel titled “Criminal Tax Enforcement – The Powers and Perils of Parallel Criminal and Civil Investigations” at the ABA’s 39th Annual National Institute on White Collar Crime. Parallel investigations involving the IRS and federal tax matters by different state or federal
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
On February 22, 2024, Kostelanetz LLP, AlixPartners, and the Bahamas Financial Services Board will host a seminar on “Financial Crime Enforcement Across Borders” for financial industry professionals in Nassau, Bahamas. Caroline D. Ciraolo and Jay R. Nanavati will be featured speakers. Panel topics will include: Bahamas Regulatory Update Cross-Border Criminal
Proposed Bill Would Bar ERC Claims After January 31 and Increase Promoter Penalties Today, House Ways and Means Committee Chairman Jason Smith (R-Mo.) and Senate Finance Committee Chairman Ron Wyden (D-Ore.) proposed a bipartisan bill that would bar the filing of Employee Retention Credit (“ERC”) claims after January 31, 2024. The proposed
By Sharon L. McCarthy and Daniel C. Davidson New York Law Journal September 15, 2023 “Attorney-client privilege is dead!” So declared then-President Donald Trump in a tweet after a 2018 law enforcement raid on his former lawyer Michael Cohen’s office. In fact, various investigations into the former president demonstrate that
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
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 Sharon McCarthy and Christopher Ferguson American Bar Association Criminal Justice Section, The White Collar Crime Committee Newsletter Summer/Fall 2023 Edition We are all familiar with the aphorism that those who forget history are condemned to repeat it. The Department of Justice’s (“DOJ” or the “Department”) recent amendments to its
