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

Tax Deadlines June 2014

Posted on June 1, 2014February 19, 2019 by Moskowitz LLP Tax Planning & Compliance, International Taxation,

Client Bulletin June 2014 What's Inside Offshore Practice Group: China, Hong Kong, and South Korea Update June 30th Deadline - FBAR Civil Tax Matters & Tax Planning: How Inherited Assets Differ From Gifts Prime Points for Your Buy-Sell Criminal Corner: The IRS & Identity Theft Enforcement Alert to tax scam...

The Potential Tax Benefit to Donald Sterling of a Forced Sale of the Clippers

Posted on May 15, 2014February 19, 2019 by Moskowitz LLP Business Law, Tax: Audits, Litigation & Collection,

As tax attorney, Steve Moskowitz discusses on his weekly segment as the legal analyst on Comcast TV, the NBA is trying to take the Clippers away from Donald Sterling (as well as his estranged wife); forcing them to sell, in spite of the fact that neither owner wishes to do...

US Supreme Court to Rule on the Extent of the IRS’ Summons Power

Posted on April 23, 2014February 19, 2019 by Moskowitz LLP Tax: Audits, Litigation & Collection,

Time and time again, Courts have found the Internal Revenue Services' authority broad and that it was Congress' intent to 'encourage' effective tax investigations. Part of these powers include the power of the IRS to issue Summons to parties or third parties to examine documents and take testimony as part...

Client Bulletin, April 17 2014

Posted on April 17, 2014February 19, 2019 by Moskowitz LLP Tax Planning & Compliance,

Client Bulletin April 2014 What's Inside Offshore Bank Account & Asset Alert Making Expense Accounts Accountable Funding your Business: IRA Source Funds Did you know?: Personal Injury Cases Tax Calendar Post-April 15 Tax Time April 15th is a great equalizer because I don't know anyone who enjoys paying taxes. Looking...

Another Way to Identify Income Underreporting – 1099K

Posted on April 10, 2014February 19, 2019 by Moskowitz LLP Business Law, Tax Planning & Compliance,

Form 1099-K is a new information return sent to businesses by "payment settlement entities" (i.e., organizations responsible for reporting payments made by credit cards) reporting the amount of credit card and other electronic receipts that were processed for the business. The IRS also receives a copy of Form 1099-K and...

Offshore Bank Account and Asset Alert: March 2014

Posted on March 31, 2014February 19, 2019 by Moskowitz LLP International Taxation,

Another 106 Banks will be turning over customer information to the United States Department of Justice (DOJ) - What this means for those with Offshore Bank Accounts and Assets - Especially in Japan, Hong Kong, Taiwan, Mainland China, and South Korea The United States has succeeded in obtaining huge fines...

Think the Government isn’t serious about Offshore Bank Accounts?

Posted on February 19, 2014February 19, 2019 by Moskowitz LLP International Taxation, Criminal Tax Law,

Think that if you have offshore assets and you get caught, that you can just pay the Government? Think Again. Beanie Babies creator Ty Warner was sentenced to two years probation as a result of his offshore bank accounts. Remember, he tried to come forward and take part in the...

Offshore Voluntary Disclosure and Tax Compliance

Posted on February 9, 2014February 19, 2019 by Moskowitz LLP International Taxation, Tax Planning & Compliance,

Our team of experienced tax attorneys can help you become compliant with the Internal Revenue Service and minimize or eliminate your exposure to any offshore penalties and other problems. Offshore Voluntary Disclosure Representation One option individuals who have unreported foreign bank accounts and have underreported or failed to disclose foreign...

Happy Lunar New Year!

Posted on January 30, 2014February 19, 2019 by Moskowitz LLP Tax Planning & Compliance,

We hope that you had a wonderful and joyous winter holiday season with your family and friends. Looking ahead, all of us at Moskowitz LLP, A Tax Law Firm would like to wish you a Happy Lunar New Year! Lunar New Year marks the beginning of spring, traditionally a time...

Pre-Immigration Tax Planning

Posted on January 22, 2014February 19, 2019 by Moskowitz LLP International Taxation, State & Local Taxation, Tax Planning & Compliance,

The decision of a nonresident alien to move to the United States and become a U.S. citizen or resident alien will invoke significant tax considerations involving the interaction of the tax systems of the United States and the alien's current country of residence. This includes both consequences under U.S. law...

January 2014, Tax Tips & More

Posted on January 15, 2014February 19, 2019 by Moskowitz LLP Tax Planning & Compliance,

We wish you a happy and prosperous New Year! In keeping with this spirit, and since we are in the business of legally minimizing taxes, here are a few tax related tips for a profitable 2014: IRS to Audit flow through entities As we previously reported, the IRS has announced...

Qualified Quiet Disclosure

Posted on January 14, 2014February 19, 2019 by Moskowitz LLP International Taxation, Tax Planning & Compliance,

Several options exist for individuals with prior undisclosed foreign assets and/or income to become compliant with the IRS. Two of the more commonly used choices are the Qualified Quiet Disclosure and the Offshore Voluntary Disclosure Program ("OVDP"). Taxpayers entering into the Offshore Voluntary Disclosure Program must agree to several requirements. ...

Final Net Investment Income Tax Regulations: December, 2013 Update

Posted on December 31, 2013February 19, 2019 by Moskowitz LLP Tax Planning & Compliance,

Final regulations were issued December 2, 2013, for the net investment income tax imposed under Section 1411. The final regulations adopt with amendments the proposed regulations that were issued in December 2012. Section 1411 imposes a 3.8 percent tax on certain individuals, estates, and trusts with respect to passive income....

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