In 2018 the Supreme Court of the United States (SCOTUS) has essentially narrowed the ability of prosecutors to pursue criminal tax charges. The change was part of a recent holding, Marinello v. United States, where SCOTUS stated that obstruction charges for these...
Tax Collection
NY man sentenced to 18 months imprisonment for tax evasion
A local court recently sentenced a businessman with a thriving law practice in New York to over one-year imprisonment for tax evasion. The government accused the businessman, who specialized in bankruptcy and criminal defense matters, of tax evasion in both his...
Will coronavirus complicate NY versus Florida residency fight?
It all started with the Tax Cuts and Jobs Act (TCJA). This monumental piece of tax reform led to changes that impacted every taxpayer in the country in some way. One of the biggest hits for high tax states with the limitation on the State and Local Tax (SALT)...
Coronavirus laws trigger need to review taxes: Part 3
This is the third part in our series delving into how laws passed in response to the coronavirus pandemic have impacted tax obligations. The first addressed net operating losses (NOL) and the second discussed real estate qualified improvement property (QIP). This post...
Coronavirus laws trigger need to review tax returns: Part 1
The United States government passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act into law to help provide financial stability during these uncertain times. The piece of legislation led to many changes — changes that could directly impact tax returns...
New IRS program could help those who need to disclose taxes
Government agencies are making announcements about incentives to help people as we navigate the COVID-19 crisis. The Internal Revenue Service (IRS) recently unveiled its effort to help taxpayers, called the People First Initiative. What is the People First Initiative?...
Tips to avoid taxpayer identity theft
Taxpayer identity theft occurs when another fraudulently uses stolen personal information to get a taxpayer’s refund or stimulus check. This form of theft can be frustrating for many reasons, including the fact it can take weeks or even months to realize you are a...
When are taxes dischargeable in bankruptcy?
Can a Bankruptcy Court discharge unmanageable tax debt? The answer, like many things in the legal world, is maybe. The Bankruptcy Court will consider many things when determining whether or not to forgive tax debt. In a recent case, the court showed how the lifestyle...
Earn over $100,000? The IRS is reviewing your returns.
The Internal Revenue Service (IRS) recently announced it will take a closer look at tax returns for those who earn over $100,000. The agency’s efforts will focus on those who the agency believes has wrongly failed to file a tax return. The agency stated those in this...
Recent data shows IRS made millions using collection companies
The Internal Revenue Service (IRS) recently reported that its use of third-party debt collection companies has thus far proven successful. These companies have reportedly collected millions from taxpayers. Is this a new way to collect taxes? It is and it is not. The...