Many people are watching Julian Fellowes’ new series “The Gilded Age” on HBO. The show follows three prominent (think the social circles that included Rockefeller, Astor, and Vanderbilt) families through events of the 1880s in New York. The show is categorized as an “American historical drama” that takes place during […]
Property theft can fall under two different types of charges. One is embezzlement and the other is false pretenses. There is a difference and it can be helpful to understand what each term actually means. What embezzlement entails Most people think of embezzlement when they think of white-collar theft. Embezzlement […]
COVID-19 affected both the financial and physical health and well-being of many people. The U.S. government created a multi-faceted plan intended to help those who’ve suffered. It’s called the American Rescue Plan. It was signed into law about a year ago on March 11, 2021. While you may have heard […]
There is something known as innocent spouse tax relief which can relief one spouse from any IRS garnishment. However, there are several questions that need to be answered first. Five important questions Because of a reform of the Internal Revenue Code, the Internal Revenue Service Restructuring and Reform Act of 1998 (RRA […]
Those in the know are already thinking about federal taxes. History buffs will have a base understanding of why, in 1913, Congress ratified the law. Since Colonial times, a large percentage of Americans have eschewed paying taxes for intangibles (the Stamp Act) or paying taxes to a government that did […]
As attorneys who work in tax law, it is not far-fetched to think that the first question we get asked when someone first meets us is, “What was Anna Delvey (the fake heiress) charged with?” Those who watched Inventing Anna, the Netflix series produced by Grey’s Anatomy creator Shonda Rhimes, want […]
If you are wishing to avoid criminal prosecution and be compliant with The Foreign Account Tax Compliance Act (FATCA) you will need to accurately report on any foreign financial accounts and foreign assets you or your company or business entity holds. In November of 2018, the IRS issued new guidance […]
While certified public accountants (CPA) are people who have passed rigorous testing and are typically pretty keen with numbers, not all CPAs are tax specialists. What do CPAs do all day? A vast percentage of CPAs work as auditors. This means the motherlode of their work involves reviewing the financials […]
The pandemic has changed the way we think about working, socializing, our health, education, child care, and now taxes. The pandemic has forced many businesses and their employees to eschew meeting together to work. This has meant a shift to work from home, increased “side gigs,” more virtual meetings, and […]
Essentially a lifestyle is triggered when a person’s assets do not match their reported income. Through the lens of the IRS, the thinking goes something like this: If you own a mansion, a second or third vacation property, an expensive car, and a personal jet, it seems unlikely that your […]