The Tax Lawyer Blog: Topical thinking from the lawyers at Moskowitz, LLP

Business Owners! Get Ready to Meet with Your Tax Professional

Posted on February 1, 2018March 4, 2019 by Moskowitz LLP Business Law, Tax Planning & Compliance, Tax: Audits, Litigation & Collection,

In our previous blog post we presented a list of tax forms and other documents that taxpayers should bring to their tax professional or accountant’s office for accurate preparation of their individual 1040. In this post, we are going to add more items to that list that are applicable to...

The Essential List of Tax Preparation Issues for 2018

Posted on January 30, 2018January 28, 2021 by Moskowitz LLP Tax Planning & Compliance, Tax: Audits, Litigation & Collection,

Tax season is here, and with it often comes at least some confusion and stress. The best way to combat the stress is with proper tax preparation. To reduce the chance of you arriving at your tax preparer's office or accountant’s office without some crucial document or information, we suggest...

Attorney General Jeff Sessions Rescinds Cole Memo

Posted on January 25, 2018February 14, 2019 by Moskowitz LLP 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...

Update on IRS Offshore Initiatives: Investigations and agreements with financial institutions worldwide

Posted on January 18, 2018February 14, 2019 by Moskowitz LLP 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...

Update on IRS Offshore Initiatives

Posted on January 16, 2018February 14, 2019 by Moskowitz LLP 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...

Six Reasons to Get Your Tax Return Prepared Early

Posted on January 12, 2018February 14, 2019 by Moskowitz LLP Tax Planning & Compliance, Tax: Audits, Litigation & Collection,

Don’t wait until April 17th to file your tax returns! The IRS begins accepting tax returns in January and we recommend filing as early as possible for numerous reasons, including but not limited to: 1. Faster Refund There is no reason to leave your tax refund in government hands any...

Upcoming Tax Reporting and Compliance Returns: What’s Due in January 2018

Posted on January 10, 2018February 14, 2019 by Moskowitz LLP 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...

How Four Different Areas of Life Are Affected by the New Tax Law

Posted on December 30, 2017February 14, 2019 by Moskowitz LLP Tax Planning & Compliance,

The Tax Cuts and Jobs Act, signed into law by President Trump on December 22, 2017, represents the biggest and most dramatic change to the U.S. tax code to take place in decades, and is expected to impact most everyone. Let’s explore just a few areas of most people’s lives...

When and Where are the Best Places to Donate?

Posted on December 21, 2017April 1, 2022 by Steve Moskowitz Tax Planning & Compliance,

Other Posts in this Series How Much Should You Give to a Charity? Benefits of Making Charitable Donations You should consider donating on or before 12/31/17 as the tax law appears to be going to make a major change for 2018. Although it appears that the charitable deduction will remain...

The Benefits of Making Charitable Donations

Posted on December 20, 2017April 1, 2022 by Steve Moskowitz Tax Planning & Compliance,

Other Posts in this Series How Much Should You Give to a Charity? When and Where are the Best Places to Donate? There are many benefits of making charitable donations that include the way people feel about themselves including their religious and spiritual feelings and giving back to the community....

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 December 20, 2017April 1, 2022 by Steve Moskowitz 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...

Franchise Tax Board Penalties: Accuracy-Related Penalties, Part III: Substantial Misstatements

Posted on December 15, 2017April 29, 2019 by Moskowitz LLP 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...

Franchise Tax Board Penalties: Accuracy-Related Penalties, Part II: Negligence

Posted on December 14, 2017April 1, 2022 by Moskowitz LLP Business Law, Tax Planning & Compliance,

Other Posts in this Series Part I: The Basics Part III: Substantial Misstatements The penalties for negligent errors on your tax return can be high, but they pale in comparison to those imposed if the government (federal and/or state) concludes that your mistakes were intentional. In this post, we are...

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