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

Looking Ahead for Tax in 2013

Posted on January 1, 2012February 19, 2019 by Moskowitz LLP Tax Planning & Compliance,

i. Will Bush Tax Cuts remain in Effect? Remember those Bush tax cuts enacted in 2001 and 2003? These cuts will expire December 31, 2012. Without Congressional action, there will be significant tax increases and tax rate changes beginning in 2013, including, but not limited to: a. Tax Rate increases...

Congress Passes Temporary Extension of Payroll Tax Cut

Posted on December 30, 2011February 19, 2019 by Moskowitz LLP Tax Planning & Compliance,

Just in time for the holidays, Congress passed, and President Obama approved, a short-term extension of the Temporary Payroll Tax Continuation Act of 2011. The deal ensures that the social security withholding tax on employees stays at the current rate for the next few months. Instead of the payroll tax...

Excerpt of California Watch Article Featuring Steve Moskowitz

Posted on November 29, 2011February 19, 2019 by Moskowitz LLP Tax: Audits, Litigation & Collection,

San Francisco tax attorney Steve Moskowitz said this year's program was structured so that participants had to admit to intentionally evading taxes. "I found that horribly offensive," Moskowitz said. "A lot of people inadvertently violated a law they hadn't even heard of." Moskowitz said some immigrants don't know they have...

RETIREMENT PLANS FOR SMALL BUSINESS OWNERS AND SOLO PRACTITIONERS

Posted on November 22, 2011February 19, 2019 by Moskowitz LLP Estate Planning & Taxation,

Small business owners are always looking for a way to save money; especially in this economy. Many small business owners are not aware of the tax incentives that certain retirement plans offer. This post will outline some of the cost-saving ways that can make a real difference to your bottom...

RETIREMENT PLANS – AN OVERVIEW

Posted on November 8, 2011February 19, 2019 by Moskowitz LLP Estate Planning & Taxation,

Having a sound retirement strategy is an important component of good tax planning. There are many different types of retirement plans that can provide you or your employees with substantial annual tax benefits. This blog post outlines the various types of retirement plans and touches upon some of the tax...

South Korea and the United States Enter Into Simultaneous Criminal Investigation Program (“SCIP”)

Posted on October 26, 2011February 20, 2019 by Moskowitz LLP International Taxation,

San Francisco CA - October 26, 2011 - The United States ("U.S.") and Korean Governments have entered into SCIP to combat tax evasion in the partnering countries. The agreement between the U.S. and South Korea will allow the IRS to obtain records from South Korea's National Tax Service (NTS) to...

SO YOU MISSED A CHANCE AT AMNESTY UNDER OVDI, OR DID YOU?

Posted on October 24, 2011February 20, 2019 by Moskowitz LLP Tax: Audits, Litigation & Collection,

The federal Offshore Voluntary Disclosure Initiative (OVDI) ended on September 9, 2011. This means that taxpayers with unreported foreign bank accounts have to make some tough choices about how to proceed if they intend to voluntarily disclose those accounts to the IRS. 2011 OVDI Recap OVDI offered immunity from criminal...

CALIFORNIA VOLUNTARY COMPLIANCE INITIATIVE 2 ENDS OCTOBER 31, 2011

Posted on October 24, 2011February 20, 2019 by Moskowitz LLP Tax Planning & Compliance,

California taxpayers who underreported their state income tax liabilities through the use of offshore entities have until October 31, 2011 to avoid criminal and civil (monetary) penalties and interest by participating in the California Voluntary Compliance Initiative 2. Due to the information sharing agreement between the IRS and the states,...

Challenging an Unfavorable Tax Audit Decision

Posted on September 29, 2011February 20, 2019 by Moskowitz LLP Tax: Audits, Litigation & Collection,

This next post in the "anatomy of an audit" multi-post series outlines why a person or a business should strongly consider appealing an unfavorable tax audit decision and how they can go about seeking such an appeal. Why Appeal an Adverse Audit Decision Most taxpayers do not challenge an unfavorable...

Tax Indictment and Plea Round-up

Posted on September 23, 2011February 20, 2019 by Moskowitz LLP Criminal Tax Law,

If you thought that federal and state law enforcement officials have more important things to do these days than prosecute tax offenders, think again. This multi-page post outlines recent cases involving Californians who have paid the price - in jail time, fines and restitution - for defrauding the government out...

August 26, 2011 IRS extended the deadline for new applicants to the OVDI Program

Posted on August 26, 2011February 20, 2019 by Moskowitz LLP International Taxation,

On August 26, 2011, the IRS extended the deadline for new applicants to the OVDI program and to those previously admitted to the program but seeking extension to: September 9, 2011. For those admitted to the program but need more time to gather required documents, including but not limit to,...

Immigration Criminal Tax Consequences of Failing to Disclose Foreign Bank Accounts and Foreign Source Income

Posted on August 22, 2011February 20, 2019 by Moskowitz LLP Criminal Tax Law,

with thanks to Liz Prehn, Law Clerk Introduction The recent crackdown by the Internal Revenue Service (IRS) on United Sates taxpayers with previously undisclosed foreign bank accounts and unreported foreign income has resulted in an unprecedented wave of criminal prosecutions. The IRS' initiative may also result in criminal convictions and...

2011 Offshore Voluntary Disclosure Initiative (OVDI) / Final Notice

Posted on August 20, 2011February 20, 2019 by Moskowitz LLP International Taxation,

For those taxpayers who are still considering whether to apply for amnesty under the 2011 Offshore Voluntary Disclosure Initiative (OVDI) or who have not yet completed the program, you should be aware that the August 31st deadline is not only to file the initial application to the program but also...

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