PRACTICE AREAS

Tax Law Services

We are an experienced tax law firm serving clients nationwide.

 

Foreign Asset Planning

It is not unlawful to have foreign bank accounts. However, U.S. taxpayers must disclose the existence of such accounts, and report any income derived from them to the Internal Revenue Service.

 

Wills Trusts And Estate Planing

Our law firm provides highly-personalized, responsive service to estate planning clients as we counsel them at all the critical stages of their lives.

 

Estate Administration

The death of a loved one may be difficult enough to endure without having to worry about the ensuing estate matters.

 

Our Latest Blog Posts

New Unreported Offshore Assets case: Bad facts leads to bad results

A resident of Connecticut who was originally from Korea has been hit with a record civil penalty of $14M, a six month prison sentence, and a fine of $100,000 for failing to report Swiss bank accounts totaling around $28M, the US Department of Justice (DoJ) has announced. The sentence is an indication that the US DoJ is seeking to significantly increase penalties it levies

FBAR statute of limitations court case ruling

In its first decision of 2018, the US Tax Court considered whether the six-year statute of limitations in Code Section 6501(e)(1)(A)(ii) applied to a taxpayer who failed to file Foreign Bank Account Reporting, or FBAR forms from 2006 through 2008. The court held that the Internal Revenue Service could not go back beyond the general three-year limitations period. FBAR

The 65-Day Rule: What Every Trustee Should Know about Taxes

Happy New Year!  With the close of the calendar year behind us, tax season is just beginning for individuals and many entities.  If you are serving as the trustee of a complex trust, however, it’s not too late to take action that may reduce total taxes paid overall.   First, a couple of definitions: A “complex trust” is a trust that either retains current

Some FBAR Deadlines Extended

Last week the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) again extended the deadline for certain financial professionals to file foreign bank accounting reporting forms known as FBARs. In FinCEN Notice 2017-1, FinCEN announced a further extension of time for certain FBAR filings in light of proposed rules issued on March 10, 2016. Specifically, one