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Results: 1-10 of 34

Repayment of embezzled funds is not a deductible business loss

  • Morrison & Foerster LLP
  • -
  • USA
  • -
  • January 3 2011

A New York State Administrative Law Judge has held that a taxpayer cannot claim trade or business losses for embezzled funds that she repaid, and could not receive the benefits of loss carryback provisions

A compilation of enforcement and non-enforcement actions (April 2013)

  • Foley & Lardner LLP
  • -
  • USA
  • -
  • April 30 2013

The ongoing debate about shoring up the oversight of federally registered investment advisers found another voice (or at least the reintroduction of

Grand jury indicts Swiss lawyer and banker in tax evasion scheme

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • April 26 2013

A New York federal grand jury recently indicted a Swiss lawyer and bank executive for their roles in allegedly assisting US citizens with hiding

In Re: Grand Jury Subpoena, 5th Cir., No. 11-20750 (09212012)

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • November 15 2012

The Fifth Circuit Court of Appeals reversed the district court's denial of the government's motion to compel production of foreign bank account records required to be kept under Treasury Department regulations by the target of a grand jury investigation (the "witness"

Final Treasury regulations on foreign bank account reporting

  • Hogan Lovells
  • -
  • USA
  • -
  • March 11 2011

On February 24, 2011, the Financial Crimes Enforcement Network of the Department of the Treasury (FinCEN) issued widely anticipated final regulations regarding the reporting of foreign financial accounts on Form TD-F 90-22.1, Report of Foreign Bank and Financial Accounts (commonly referred to as "FBAR"

Off-shore Madoff feeder fund lawsuit survives motion to dismiss

  • Winston & Strawn LLP
  • -
  • USA
  • -
  • May 9 2011

On May 2nd, the Southern District of New York partially denied defendants' motion to dismiss a Madoff feeder fund lawsuit

An attorney's guide to cross examining financial expert witnesses

  • Greenbaum, Rowe, Smith & Davis LLP
  • -
  • USA
  • -
  • December 9 2010

In recent years, challenges to the financial expert testimony have increased significantly

New Offshore Voluntary Disclosure Program: a carrot without a stick?

  • Morvillo Abramowitz Grand Iason & Anello PC
  • -
  • USA
  • -
  • July 13 2012

Since 2008, the Internal Revenue Service has used both the stick (the threat of criminal prosecution) and the carrot (a series of voluntary disclosure initiatives) to bring taxpayers into compliance with their obligations to report offshore accounts and assets

Looking for FBARs in all the wrong places? Limited relief in new interim guidance

  • Caplin & Drysdale
  • -
  • USA
  • -
  • March 15 2010

On February 26, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) released proposed regulations intended to clarify the filing requirements for FBARs (aka Report of Foreign Bank and Financial Accounts, Form TD F 90-22.1

What does the flap over Romney’s tax returns suggest about disclosure of his Swiss account?

  • Morvillo Abramowitz Grand Iason & Anello PC
  • -
  • USA
  • -
  • August 8 2012

As the “will he or won’t he” controversy continues to swirl around demands that Mitt Romney release multiple years of his federal income tax returns, some commentators have speculated that Governor Romney’s reluctance to produce those returns relates to his Swiss bank account

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