TAXLITIGATOR Blog

Posted by Hochman Salkin Toscher Perez P.C. Posted on Sunday, November 17, 2019

The IRS has spent over a decade using and refining a model for bringing into compliance those taxpayers who made mistakes in good faith or through non-willful ignorance, and for punishing bad actors. The renewed push to target cryptocurrency builds on its predecessor, offshore bank accounts, but is distinguishable in important ways. The IRS appears sensitive to the differences, has more to […] Read More…

Posted by Hochman Salkin Toscher Perez P.C. Posted on Monday, November 11, 2019

Last August, I blogged on the Court of Federal Claims (CFC) decision in the Mindy Norman FBAR willful penalty case.  Rejecting the decisions in Colliot and Waldham, the CFC held that 31 CFR § 1010.820 (which limited the willful FBAR penalty to $100,000) was invalid due to the 2004 amendment to 31 U.S.C. §5321(a)(5).  Disagreeing […] Read More…

Posted by Hochman Salkin Toscher Perez P.C. Posted on Wednesday, November 06, 2019

White-collar prosecutors and defense counsel have noticed a downward trend in the number of fraud cases, including tax cases, since the 9/11 attacks. The FBI and other agencies since then have reallocated their resources to counterterrorism investigations.  However, this re-orientation only accounts for part of the drop; one of the other critical factors has been […] Read More…

Posted by Hochman Salkin Toscher Perez P.C. Posted on Wednesday, November 06, 2019

Cryptocurrency is an East Coast versus West Coast problem. On the West Coast, proponents  believe they’re creating a brave new world, connecting people, enabling the unbanked, with their vague good intentions marred by a belief that Washington’s rules don’t apply to them. On the East Coast, business and government are controlled by financiers, and there are rules.  Cryptocurrency is a financial instrument, […] Read More…

Posted by Hochman Salkin Toscher Perez P.C. Posted on Friday, November 01, 2019

The Internal Revenue Service has made cryptocurrency tax compliance one of its top priorities and has recommended that virtual currency users come clean  to the agency if they haven’t disclosed transactions in the past. While filing an amended return along with paying all tax and interest due is generally recognized as a way to correct noncompliance, there are […] Read More…

Posted by Hochman Salkin Toscher Perez P.C. Posted on Friday, November 01, 2019

In a court reviewed opinion[1], a divided Tax Court held that IRC section 280E is not a penalty and therefore does not violate the Eighth Amendment prohibition on excessive fines.  This case provided a different spin on the usual 280E challenges and although the Court ruled that 280E was constitutional, there were three judges who […] Read More…

Posted by Hochman Salkin Toscher Perez P.C. Posted on Wednesday, October 30, 2019

We are pleased to announce that Steven Toscher, will be speaking on “You can convince the IRS Your Client is Right- Some Helpful Suggestions to Resolve EO Controversies” at this year’s Western Conference on Tax Exempt Organizations, December 5th and 6th at the Convene, Los Angeles. Click Here for more information.  

Posted by Hochman Salkin Toscher Perez P.C. Posted on Sunday, October 27, 2019

We are pleased to announce that Sandra Brown, will be speaking on “What Do You Mean There Is a $10,000 Penalty” at this year’s California Tax Bar and California Tax Policy Conference, Friday, November 8th at the Hyatt Regency, Mission Bay.  Click Here for more information. This panel will discuss reporting requirements and penalties relating […] Read More…

Posted by Hochman Salkin Toscher Perez P.C. Posted on Sunday, October 27, 2019

We are pleased to announce that two of our principals will be speaking at the upcoming CalCPA 2019 Federal, State, Local & International Tax Conference, November 21-22, 2019 at the Sheraton, Universal City. Stay on top of the latest developments surrounding California, international and federal tax standards and regulations when you attend this conference. Sessions […] Read More…

Posted by Hochman Salkin Toscher Perez P.C. Posted on Friday, October 25, 2019

This Notice alerts Chief Counsel attorneys to procedures for working and coordinating cases with issues involving virtual currency, including digital assets, digital currency, crypto-assets, and cryptocurrency. These cases may involve information received from various third-party sources, such as information returns, and information received from a summons of a virtual currency exchange. They may involve a […] Read More…

Posted by Hochman Salkin Toscher Perez P.C. Posted on Sunday, October 20, 2019

On October 11, 2019, the IRS announced its non-acquiescence with the United States Tax Court’s holding in GreenTeam Materials Recovery Facility PN. [3]  In this case, the court held that (1) the sales of businesses which had local government service contracts were considered franchises pursuant to I.R.C. §1253(a); and (2) the sale of franchises were allowed capital-gains […] Read More…

Posted by Hochman Salkin Toscher Perez P.C. Posted on Thursday, October 17, 2019

We are pleased to announce that Sandra Brown, will be speaking on “From the Experts: Tax Controversy and Tax Litigation – Civil and Criminal Update” at this year’s NYU 78th Institute on Federal Taxation, Sunday, October 20th at the Grand Hyatt, New York and Sunday, November 10th at the Fairmont Hotel, San Francisco. Click Here for more […] Read More…