To help the tax community understand the recent Tax Cuts and Jobs Act (TCJA), the IRS has created a landing page on IRS.govhighlighting provisions of the new law. Major tax reform was approved by Congress in the Tax Cuts and Jobs Act (TCJA) on December 22, 2017. The IRS is working on implementing this major tax legislation…Read more
Marini & Associates, PA Traces its Roots Back to AA&Co
On 10/26/2017 I had the opportunity to go back to my roots at Arthur Andersen & Co. (AA&Co), which I get to do every other year, by being a sponsor of and attending AA&Co's South Florida's Semi-Annual Alumni Reunion. For those of you who don't know what I did before opening up our International & Tax Litigation Boutique 25 years ago…Read more
HSBC Faces $1.5B In Fines From Swiss Tax Evasion Probes
According to Law360, HSBC Holdings PLC could be hit with fines exceeding $1.5 billion from investigations around the world into allegations of tax evasion and money laundering at its Swiss private-banking subsidiary and other operations, according to the bank's annual report published Tuesday. Tax agencies, regulators and law enforcement authorities in the U.S., Belgium, Argentina,…Read more
Are Offshore Accounts Quiet Disclosures Becoming More Risky?
According to Tax Blawg the IRS is getting closer to ferreting out “quiet disclosures” by taxpayers who chose that route to address the problem of previously unreported offshore accounts rather than by participating in the Service’s offshore voluntary disclosure program (OVDP)? That's the Conclusion of an Increasing Number of Tax Professionals and If Taxpayers in This Predicament…Read more