Attorney General Jeff Sessions Rescinds Cole Memo

Posted on by Moskowitz LLP Posted in Business Law, Tax Planning & Compliance
The 2013 Cole Memo was a significant step forward for the cannabis industry, providing practical and useful guidelines to keep the federal government from pursuing prosecutions in states that have legalized marijuana – guidelines such as harsh penalties for driving under the influence, prohibiting interstate distribution, and establishing a minimum...
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Update on IRS Offshore Initiatives: Investigations and agreements with financial institutions worldwide

Posted on by Moskowitz LLP Posted in International Taxation, Tax Planning & Compliance, Tax: Audits, Litigation & Collection
In our last post, we noted that the U.S. government goes to great lengths to identify and prosecute noncompliant taxpayers, as well as promoters and financial institutions who assist U.S. taxpayers avoid their tax obligations by hiding their offshore income and assets. Some recent plea agreements with large financial institutions...
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Update on IRS Offshore Initiatives

Posted on by Moskowitz LLP Posted in International Taxation, Tax Planning & Compliance, Tax: Audits, Litigation & Collection
Global tax issues are a top priority for the Internal Revenue Service Criminal Investigation Division (IRS-CI), which focuses its work on investigating taxpayers who willfully engage in tax evasion. Significant efforts are also being made to identify and take legal action against promoters and financial institutions who have assisted taxpayers...
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Upcoming Tax Reporting and Compliance Returns: What’s Due in January 2018

Posted on by Moskowitz LLP Posted in Tax Planning & Compliance
Tax season commences soon – let’s review some upcoming tax reporting and compliance returns that are due in January of 2018. January 16, 2018 Form 1040-ES: Estimated Tax Payment (4th Quarter 2017) If you don’t pay your income tax obligations through withholding because you are self-employed or are otherwise required...
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How Much Should You Give to a Charity: Or is There a Formula For Determining How Much You Should Give vs How Much You Can Afford

Posted on by Steve Moskowitz Posted in Tax Planning & Compliance, Tax: Audits, Litigation & Collection
Other Posts in this Series Benefits of Making Charitable Donations When and Where are the Best Places to Donate? This answer is something that an attorney often says to a client: “it depends”. This is a highly personal decision that can encompass many factors. The personal and or religious beliefs...
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Franchise Tax Board Penalties: Accuracy-Related Penalties, Part III: Substantial Misstatements

Posted on by Moskowitz LLP Posted in Business Law, Tax Planning & Compliance
Other Posts in this Series Part I: The Basics Part II: Negligence We continue our discussion of Franchise Tax Board (FTB) accuracy-related penalties with penalties relating to substantial understatements or misstatements of income and asset values. Substantial understatement of income tax obligations Individual taxpayers who understate their tax liabilities by...
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