Lawyers Have Heart 5K Race – May 31, 2017

Boston Lawyers Have Heart
May 31, 2017 marks the 10th anniversary of Lawyers Have Heart Boston There is still time to sign up and race or support a runner Lawyers Have Heart Lawyers Have Heart Boston is a 5K road race and summer celebration. Since 2008, Lawyers Have Heart in Boston has raised more than $2 million to benefit the American Heart Association and American Stroke Association in support of the organization’s mission to build healthier lives, free of cardiovascular diseases and stroke. More than 2000 members...

ABA 31st Annual National Institute on White Collar Crime

The American Bar Association's (ABA) 31st Annual National Institute on White Collar Crime is March 8-10, 2017 in Miami, FL. I will be there along with more than 1,200 other attorneys, judges, accountants and other professionals practicing in the white collar crime area. Be sure to complete Matt Kaiser's ABA White Collar Conference Bingo Card and check out his guide to the conference. See you at the Collora party!

Howard Stern sued after airing private call between IRS agent and taxpayer

IRS Phone Scams
A U.S. taxpayer is suing Howard Stern and Howard Stern Production Company in Massachusetts District Court in Boston for airing her private call with an Internal Revenue Service (IRS) agent. Prior to taking the taxpayer's call, the IRS agent had called into the Howard Stern show and had been placed on hold. Somehow the lines crossed and the Howard Stern show broadcast the private call. In a statement to WBZ, the IRS stated, “We are aware of this troubling situation, and we are currently reviewin...
Posted in IRS

New IRS Compliance Campaigns for large businesses and International taxpayers

Boston Tax Attorney IRS Audit
The Internal Revenue Service (IRS) Large Business and International (LB&I) division announced a new series of campaigns targeting fraud and tax evasion by businesses with assets over $10 million and wealthy individuals with international tax compliance obligations. The new strategy moves towards issue-based examinations and a compliance campaign process in which LB&I decides which compliance issues present significant risk to require a response. LB&I identified the 13 campaigns th...

Court Authorizes IRS to Seek the Identities of U.S. Taxpayers Who Have Used Virtual Currency

Boston Tax Attorney Blog Money
A federal court has granted the Internal Revenue Service (IRS) authority to serve a John Doe summons on Coinbase Inc., seeking information about U.S. taxpayers who conducted transactions in a convertible virtual currency during the years 2013 to 2015. IRS Definition of a John Doe Summons In the typical scenario, the IRS issue a summons to a third party to obtain information regarding a specific taxpayer whose identity is known. In contrast, a John Doe summons allows the IRS to obtain informati...

Justice Department Reaches Final Resolutions Under Swiss Bank Program

Tax investigation
In a press release, the Department of Justice announced that “it has reached final resolutions with banks that have met the requirements of the Swiss Bank Program.  The Program provided a path for Swiss banks to resolve potential criminal liabilities in the United States, and to cooperate in the Department’s ongoing investigations of the use of foreign bank accounts to commit tax evasion.  The Program also provided a path for those Swiss banks that were not engaged in wrongful acts but nonethele...

IRS Warns Taxpayers of Numerous Tax Scams Nationwide

The Internal Revenue Service (IRS) is once again warning taxpayers of tax scams. “Whether it's during the holidays or the approach of tax season, scam artists look for ways to use tax agencies and the tax industry to trick and confuse people,” said IRS Commissioner John Koskinen. “There are warning signs to these scams people should watch out for, and simple steps to avoid being duped into giving these criminals money, sensitive financial information or access to computers." Here are some tips...
Posted in IRS

William J. Lovett Named to Irish Legal 100 List

Bill Lovett and Frank Morrissey at the Irish Embassy
Congratulations to William J. Lovett for being recognized by the Irish Legal 100, the preeminent award for lawyers of Irish heritage in North America. Bill, whose paternal grandparents are from County Kerry, is the managing partner at Collora LLP, a Boston litigation boutique. Bill's practice focuses on complex civil and white collar criminal litigation, internal and government investigations, and enforcement actions related to sophisticated financial matters. Bill joined Collora LLP i...

Offshore Voluntary Disclosure and FATCA Stats

Boston Tax Attorney Blog FATCA
The Internal Revenue Service (IRS) has been actively targeting U.S. taxpayers with undisclosed foreign bank accounts for several years. It has promoted the Offshore Voluntary Disclosure Program (OVDP) and the streamlined version of the program to encourage U.S. taxpayers with previously undisclosed foreign bank accounts to come into compliance and pay back taxes while avoiding heavy fines and criminal prosecution. The U.S. government also has been cracking down on foreign financial institutio...

IRS Urges Taxpayers with International Tax Issues to Come Into Compliance

Offshore Voluntary Disclosure Program OVDP
The Internal Revenue Service's (IRS) offshore voluntary compliance announcement stated that more than 100,000 taxpayers have come into compliance on their international tax obligations since 2009. The IRS has also collected more than $10 billion in tax, interest and penalties since 2009. IRS Commissioner John Koskinen said, “As we continue to receive more information on foreign accounts, people’s ability to avoid detection becomes harder and harder. The IRS continues to urge those people wit...