Moskowitz LLP, Author at Moskowitz LLP

San Francisco man admits hiding foreign bank account

Posted on September 9, 2013February 19, 2019 by Moskowitz LLP Posted in International Taxation, Tax: Audits, Litigation & Collection

If you hold assets in a foreign bank account, you are required by law to report these funds to the Internal Revenue Service (IRS). Although many taxpayers have hidden foreign accounts from the government in the past, the government through its Offshore Initiative has drastically increased the identification of those...

Cayman Islands and the Foreign Account Tax Compliance Act

Posted on August 18, 2013February 19, 2019 by Moskowitz LLP Posted in International Taxation, Tax Planning & Compliance

The United States and the Cayman Islands have reached an agreement to begin implementation of the Foreign Account Tax Compliance Act (FATCA). The purpose of FATCA, enacted by the United States in 2010 taking effect in 2014, is to combat offshore tax evasion. Now that the Cayman Islands have signed...

Innocent Spouse, Expansion of Program

Posted on August 13, 2013February 19, 2019 by Moskowitz LLP Posted in Tax Planning & Compliance

The U.S. Internal Revenue Service has proposed rules to extend the amount of time taxpayers can apply for its "innocent spouse" relief program which stops collection of taxes in certain situations. The Innocent Spouse program is a safety net for as many as 50,000 taxpayers per year who have filed...

Offshore Initiative – Another NPA reached: DOJ 23.8 million settlement with Liechtensteinische Landesbank AG (LLB-Vaduz)

Posted on August 1, 2013February 19, 2019 by Moskowitz LLP Posted in Criminal Tax Law, International Taxation

On July 29, the United States Justice Department (DOJ) announced in a press release that it had reached a $23.8 million settlement with Liechtensteinische Landesbank AG (LLB-Vaduz), halting its criminal investigation of the bank in aiding US citizen's in evading their U.S. tax obligations. As part of the investigation, the...

Santa Clara County man pleads guilty to hiding Israeli bank account

Posted on July 29, 2013February 19, 2019 by Moskowitz LLP Posted in Criminal Tax Law, International Taxation

On July 17, the U.S. Justice Department announced in a press release that Moshe Handelsman of Saratoga, California, plead guilty to tax perjury. This case is the latest in a series involving un-reported foreign bank accounts and Israeli banks under scrutiny by the Justice Department and Internal Revenue Service (IRS)...

Alameda County, California

Posted on July 25, 2013February 19, 2019 by Moskowitz LLP Posted in State & Local Taxation, Business Law, Tax Planning & Compliance

The experienced tax attorneys at Moskowitz LLP are available to help the taxpayers and businesses of Alameda County. A few of the ways in which we can assist the unique needs of the county are listed below: Agriculture Farming in California generates over $30 billion a year and Alameda County...

FATCA withholding delayed for six months

Posted on July 12, 2013February 19, 2019 by Moskowitz LLP Posted in International Taxation

On July 12, the U.S. Treasury Department and the Internal Revenue Service (IRS) announced that the implementation of the Foreign Account Tax Compliance Act (FATCA) would be postponed for six months to allow foreign entities to finalize their intergovernmental agreements with the IRS. As such, FATCA withholding by foreign institutions...

U.S. Government to Use the Treasury Department to Identify Individuals Owning Foreign Assets

Posted on June 18, 2013April 1, 2022 by Moskowitz LLP Posted in International Taxation, Tax Planning & Compliance, Tax: Audits, Litigation & Collection

At the G8 meeting in Ireland, the White House announced it's intent to facilitate international tax and business arrangement transparency by promising a plan to assist law enforcement and tax authorities in identifying those who own and control entities outside of the United States. We have been reporting on the...

IRS to Target Virtual Currencies for Tax and BSA Violations

Posted on June 13, 2013February 19, 2019 by Moskowitz LLP Posted in Tax: Audits, Litigation & Collection

Already in the midst of cracking down on offshore tax and banking violations as part of its war on global tax evasion, the Internal Revenue Service (IRS) has recently revealed that it sees the rise of virtual currencies as an avenue for tax evasion and money laundering schemes. "Clearly the...

Joseph Bray: Giving clients a voice

Posted on June 5, 2013February 19, 2019 by Moskowitz LLP Posted in Criminal Tax Law, Real Estate Law, Tax: Audits, Litigation & Collection

Born and raised in San Francisco by an East Coast conservative father and West Coast liberal mother, Joseph Bray grew up in a divided household, one where heated political and legal debates were commonplace at the dinner table. By the time Bray was a high school sophomore, years of robust...

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