Source: https://directory.libsyn.com/shows/view/id/theaterofthecourtroom
Timestamp: 2020-05-27 03:52:29
Document Index: 608353928

Matched Legal Cases: ['art 2', 'art 2', 'art 2', 'art 2', 'art 2', 'art 1', 'art 1', 'art 1', 'art 2']

Theater of The Courtroom | Libsyn Directory
info_outline An Introduction to IRS Appeals 06/17/2019
An Introduction to IRS Appeals Join me as I walk you through an introduction to IRS Appeals. In this podcast, I discuss the IRS Appeals process along with the following: •The Role of Appeals •Hazards of Litigation •What does Appeals Consider? •What issues can the TP Raise? •Overview of Appeals Process •Role of the Appeals team manager •What if agreement is reached? •What if agreement is not reached? •Independence of Appeals & Ex Parte •Non-docketed versus Docketed cases To access the slides, click . /episode/index/show/theaterofthecourtroom/id/10179212
info_outline Anatomy of a Civil Tax Controversy: Eggshell Audits and the Kovel Accountant 06/17/2019
Anatomy of a Civil Tax Controversy: Eggshell Audits and the Kovel Accountant Join me as I walk you through the anatomy of a civil tax controversy from A through Z. This webinar will cover each step in the process, and will take a closer look at what to do during an eggshell audit. Other topics to be discussed include cases typically recommended for prosecution, attorney-client privilege in the tax realm, Kovel Agreements, IRS Appeals, and more. Learning Objectives: Gain an in-depth overview of the anatomy of a civil tax controversy from A through Z Develop best practices for walking your client through an eggshell audit Review attorney-client privilege in the tax realm Discuss the use of a Kovel Accountant and drafting an airtight Kovel Agreement Comprehend the IRS Appeals Process Evaluate the hazards of litigation To access the slides, click . /episode/index/show/theaterofthecourtroom/id/10178858
info_outline Is that Worker an Employee? Q & A's on Worker Classification Including the TFRP 03/12/2019
Is that Worker an Employee? Q & A's on Worker Classification Including the TFRP This is a webinar from a recent presentation that I did for CPA Academy. I am honored to lecture for such a fine CPE provider. /episode/index/show/theaterofthecourtroom/id/8977310
info_outline How the IRS Reconstructs Income In Tax Fraud Cases - A Deep Dive 02/27/2019
How the IRS Reconstructs Income In Tax Fraud Cases - A Deep Dive This was a presentation that I did for CPAAcademy on February 26, 2019. I am honored to be a guest lecturer for this fine CPE provider. Enjoy. /episode/index/show/theaterofthecourtroom/id/8808686
info_outline Is that Worker An Employee? Part 2 - Requesting a Tax Court Determination 12/26/2018
Is that Worker An Employee? Part 2 - Requesting a Tax Court Determination This is the last part of my presentation on, "Is that Worker An Employee? Questions and Answers on Worker Classification." The topic is "Requesting a Tax Court Determination." /episode/index/show/theaterofthecourtroom/id/8045072
info_outline IS THAT WORKER AN EMPLOYEE? QUESTIONS AND ANSWERS ON WORKER CLASSIFICATION 12/26/2018
IS THAT WORKER AN EMPLOYEE? QUESTIONS AND ANSWERS ON WORKER CLASSIFICATION Course Description If you own or manage a business that uses independent contractors, you need to know when you can or cannot treat a worker as an independent contractor. This presentation answers some of the common questions about worker classification. INTRODUCTION Misclassification of employees as independent contractors is now a common phrase uttered by state and federal legislators and regulators. State task forces have been formed to crack down on businesses that do not pay unemployment insurance and workers’ compensation premiums or withhold taxes for workers whom the state believes are employees and not independent contractors. /episode/index/show/theaterofthecourtroom/id/8044976
info_outline On the Brink of Insanity: How to Calculate the Miscellaneous Offshore Penalty under the Streamlined Domestic Procedures 12/23/2018
On the Brink of Insanity: How to Calculate the Miscellaneous Offshore Penalty under the Streamlined Domestic Procedures In this podcast, I discuss how to calculate the 5 percent miscellaneous offshore penalty under the streamlined domestic procedures. The miscellaneous offshore penalty is equal to 5 percent of the highest aggregate balance/value of the taxpayer’s foreign financial assets that are subject to the miscellaneous offshore penalty during the years in the covered tax return period and the covered FBAR period. For this purpose, the highest aggregate balance/value is determined by adding the year-end account balances and year-end asset values of all the foreign financial assets subject to the miscellaneous offshore penalty for each of the years in the covered tax return period and the covered FBAR period and selecting the highest aggregate balance/value from among those years. A foreign financial asset is subject to the 5-percent miscellaneous offshore penalty if the asset should have been, but was not, reported on an FBAR (FinCEN Form 114) for that year. A foreign financial asset is subject to the 5-percent miscellaneous offshore penalty in a given year in the covered tax return period if the asset should have been, but was not, reported on a Form 8938 for that year. A foreign financial asset is also subject to the 5-percent miscellaneous offshore penalty in a given year in the covered tax return period if the asset was properly reported for that year, but gross income in respect of the asset was not reported in that year. For information on the meaning of foreign financial asset, see the and the . For example, foreign financial assets may include: financial accounts held at foreign financial institutions; financial accounts held at a foreign branch of a U.S. financial institution; foreign stock or securities not held in a financial account; foreign mutual funds; and foreign hedge funds and foreign private equity funds. /episode/index/show/theaterofthecourtroom/id/8021963
info_outline Instructions for Making a Streamlined Domestic Offshore Submission 12/23/2018
Instructions for Making a Streamlined Domestic Offshore Submission In this podcast, I discuss the instructions for making a submission to the streamlined domestic offshore program. For each of the most recent 3 years for which the U.S. tax return due date (or properly applied for extended due date) has passed, submit a complete and accurate amended tax return using Form 1040X, Amended U.S. Individual Income Tax Return, together with any required information returns (e.g., Forms 3520, 3520-A, 5471, 5472, 8938, 926, and 8621) even if these information returns would normally not be submitted with the Form 1040 had the taxpayer filed a complete and accurate original return. Include at the top of the first page of each amended tax return "Streamlined Domestic Offshore" written in red to indicate that the returns are being submitted under the streamlined procedures. Complete and sign a statement on the certifying: (1) that you are eligible for the Streamlined Domestic Offshore Procedures; (2) that all required FBARs have now been filed (see instruction 9 below); (3) that the failure to report all income, pay all tax, and submit all required information returns, including FBARs, resulted from non-willful conduct; and (4) that the miscellaneous offshore penalty amount is accurate (see instruction 5 below). You must maintain your foreign financial asset information supporting the self-certified miscellaneous offshore penalty computation and be prepared to provide it upon request. Submit payment of all tax due as reflected on the tax returns and all applicable statutory interest with respect to each of the late payment amounts. Your taxpayer identification number must be included on your check. You may receive a balance due notice or a refund if the tax or interest is not calculated correctly. Submit payment of the Title 26 miscellaneous offshore penalty as defined above. If you seek relief for failure to timely elect deferral of income from certain retirement or savings plans where deferral is permitted by an applicable treaty, submit: a statement requesting an extension of time to make an election to defer income tax and identifying the applicable treaty provision; a dated statement signed by you under penalties of perjury describing: the events that led to the failure to make the election, the events that led to the discovery of the failure, and if you relied on a professional advisor, the nature of the advisor’s engagement and responsibilities. The documents listed above, together with the payments described above, must be sent in paper form (electronic submissions will not be accepted) to: Internal Revenue Service 3651 South I-H 35Stop 6063 AUSC Attn: Streamlined Domestic Offshore Austin, TX 78741 Finally, for each of the most recent 6 years for which the FBAR due date has passed, file delinquent FBARs according to the FBAR instructions and include a statement explaining that the FBARs are being filed as part of the Streamlined Filing Compliance Procedures. You must file these delinquent FBARs electronically at . On the cover page of the electronic form, select “Other” as the reason for filing late. An explanation box will appear. In the explanation box, enter “Streamlined Filing Compliance Procedures.” /episode/index/show/theaterofthecourtroom/id/8021912
info_outline Making Sense of the Statute of Limitations in Tax Cases 12/17/2018
Making Sense of the Statute of Limitations in Tax Cases Enjoy the content. /episode/index/show/theaterofthecourtroom/id/7949300
info_outline Eggshell Audits: Don't Get Cracked 12/17/2018
Eggshell Audits: Don't Get Cracked In this episode I discuss eggshell audits and what to do when it comes to filing returns for tax periods subsequent to periods under examination. /episode/index/show/theaterofthecourtroom/id/7949093
info_outline After the Dust Settles: Civil Tax Considerations Post-Conviction 11/28/2018
After the Dust Settles: Civil Tax Considerations Post-Conviction In this podcast, I discuss the important inter-connections between civil tax and criminal tax. Below is a quick and dirty outline to help you follow along. Timing Since time and memorial, the government has proceeded w/ criminal tax investigation and prosecution first, suspending audit and collection until completion of the criminal proceedings This policy reflects several considerations, the most important of which is that civil discovery could reveal too early, too much of the government’s criminal case. The gov’t was concerned that TPs could use civil discovery procedures to find out more about its case than what the criminal discovery procedures otherwise allowed Why is the gov’t afraid of discovery of its case? Is the gov’t trying to send people to jail by secrecy or by ambush? That historic rationale has diminished. Prosecutors today are more inclined to err on the side of caution and tend to voluntarily disclose more in light of recent and notable cases admonishing prosecutors for withholding relevant - and in some cases - exculpatory evidence from the defense. Nonetheless, the gov’t strictly adheres to its historical practice of doing the criminal side first, with the sole exception being tax shelter cases. The gov’t works the civil and criminal sides simultaneously. Outside of the tax shelter context, the historic policy of “criminal first, civil later” is the norm Even if the gov’t doesn’t suspend civil proceedings, a judge might. Civil liability and pleas A judge may be more inclined to allow a downward adjustment for acceptance of responsibility if TP-def. has paid or agreed to pay the tax liability TP loses nothing. Payment is n/ an admission of liability or an admission that the limitations period remains open. TP will still be able to argue about liability later. Nor does paying the tax eliminate the possibility of adjudicating this matter in a civil forum, such as U.S. Tax Court. TP can file a refund claim w/ the IRS Civil Penalties When the gov’t gets around to the civil side, it will assert against TP n/ just deficiency and interest but also civil penalties Civil fraud penalties The most frequently asserted civil penalty is s. 6663 – the 800 pound gorilla of civil tax penalties A TP who fraudulently prevents (or minimizes) assessment of taxes may: (1) File a false return (S. 6663 penalty applies only to filed returns) or (2) Refrain from filing a return Filed returns 6663(a) imposes a penalty equal to 75% of the portion of the underpayment that is attributable to fraud Joint returns: In the case of married-filing-jointly returns, fraud by one spouse is n/ attributed to the other. Under 6663(c), the penalty applies only to the spouse who the IRS proves to have committed fraud In order to assert fraud against one spouse, the gov’t must have evidence of fraud as to that spouse. The wife does n/ become liable for the 6663 penalty simply b/c the husband committed tax fraud. If the gov’t wants to pursue the wife for fraud, it must independently prove fraud as to the wife, separate and apart from the husband How is fraud established? By badges of fraud Failing to maintain adequate books and records, Failing to file returns, Concealing assets 3. Accuracy-related penalty S. 6662 accuracy-related penalty is an alternative to the fraud penalty Under 6662(a), the penalty amount is 20% of the underpayment The penalty applies whenever any of six conditions is present 6662 comes up in the civil-criminal context in one of two ways: TP is acquitted for tax evasion. Gov’t doesn’t have a strong case of tax fraud when it gets to the civil side. Gov’t might assert 6663, or in the alternative, 6662. If the gov’t loses the fraud penalty, at least it can get the accuracy-related penalty which does not require a showing of fraud and thus might be easier to prove There is a jointly-filed return. The gov’t thinks that it can prove fraud against one spouse but n/ the other. The gov’t will assert fraud against one and 6662 (accuracy related penalty) against the innocent spouse 4. Delinquency penalties The civil penalty for failing to timely file returns is 6651(a)(1) 5. Other civil penalties There are a plethora of other civil penalties that parallel criminal penalties or could apply in circumstances in which criminal tax prosecution is a potential A number of civil penalties relate to tax advisers. For example, 6694(a) penalizes income tax return preparers who negligently advise TPs leading to tax understatements. And 6700 penalizes tax preparers who organize, sell interests in, or promote abusive tax shelters /episode/index/show/theaterofthecourtroom/id/7718189
info_outline Criminal Tax Liabilities & Sentencing Part III: The Pre-sentence Investigation Report 11/21/2018
Criminal Tax Liabilities & Sentencing Part III: The Pre-sentence Investigation Report In this podcast, I discuss the pre-sentence investigation report. Below is a quick and dirty outline: After conviction and prior to sentencing, a probation officer will interview the def. and prepare a PSR. In the PSR, the probation officer will: Calculate the defendant’s offense level and criminal history category, State the resulting sentencing range and kinds of sentences available, Identify any factors relevant to the kind of sentence (e.g., probation, imprisonment), Recommend a sentence w/in the applicable sentencing range, and Identify any basis for departing from the applicable sentencing range The PSR includes: The defendant’s prior criminal record, The defendant’s financial condition, and Information sufficient to calculate restitution The defendant is entitled to be represented by an attorney at the interview w/ the probation officer and I strongly recommend it. Why is the pre-sentence investigation report important? For the following two reasons: Judges give deference to the recommendations of the probation officer. Thus, the PSR is instrumental in the sentencing judge’s determination. Both the defense and the gov’t may make formal objections to the PSR but the judge resolves all such disputes under the preponderance of the evidence standard - a low standard indeed. Apart from the judge and sentencing, the PSR follows def. throughout his time in prison and can affect various decisions as to def. after the judge imposes sentence (i.e., the defendant’s life in prison and any period of probation or supervised release). Procedurally, once the PSR is prepared, the probation officer will provide a copy to the def., the defendant’s attorney, and the prosecutor. The defense and the gov’t have the opportunity to make objections to the PSR at the sentencing hearing, which consists of oral arguments before the judge. The rules of evidence do n/ apply to the admission of testimony or other evidence at the sentencing hearing. There are three times when defense counsel can have a big impact on the sentence that the judge imposes: Situation 1: Defense counsel bargains w/ the prosecutor. Situation 2: Defense counsel can work w/ the probation officer independently of the prosecutor – i.e., w/o forming an agreement w/ the prosecutor as in situation one. The goal is to try and get the probation officer to include favorable facts in the PSR. Situation 3: If the PSR contains something that you don’t like, you can make objections at the sentencing hearing that the PSR is wrong or should be modified by the judge and ask the judge to redact it from the pre-sentence investigation report. /episode/index/show/theaterofthecourtroom/id/7649153
info_outline Criminal Tax Liabilities & Sentencing Part II: If You Can't Stand the Heat ... 11/21/2018
Criminal Tax Liabilities & Sentencing Part II: If You Can't Stand the Heat ... Below is a quick and dirty outline of the steps that I cover in this podcast for determining the sentence of a defendant who has been convicted of a tax crime in federal court. If you would like the full outline, please email me or send me a message on Linked In. Enjoy! Step 1: Determine the base offense level by reference to the tax loss number Step 2: Adjust the offense level in light of specific offense characteristics Step 3: Calculating the sentence Step 4: Fines Step 5: Court will determine whether restitution should be imposed Step 6: Departures /episode/index/show/theaterofthecourtroom/id/7647818
info_outline HOW THE IRS RECONSTRUCTS INCOME IN TAX FRAUD CASES - A PRESENTATION 11/12/2018
HOW THE IRS RECONSTRUCTS INCOME IN TAX FRAUD CASES - A PRESENTATION This is a webinar that I presented in partnership with CPA Academy. I'm honored to lecture for such a fine CPE provider. For those who are interested in obtaining CPE credit, click to sign up. Below is more information about the program: Course Description In one of the climactic scenes from 1954’s On The Waterfront, Crime Commission prosecutors had to make their corruption case against union boss Johnny Friendly (a/k/a Michael Skelly) by convincing a reticent yet pure-hearted Terry Malloy to come forward and tell what he knew about corruption in the International Longshoremen’s Association, beginning with the murder of Joey Doyle, because an underling insisted that “we were robbed last night and can’t find no books.” If that same case came up in 21st Century tax court, Eva Marie Saint and Karl Malden could’ve stayed at home rather than serving as Marlon Brando’s cheering section, because government prosecutors could reconstruct the ILA’s income, based on the records retention requirements in Section 6500 et seq. In other words, the conventional wisdom that only divine beings can create something out of nothing does not apply in income tax evasion cases. Is it enough for the government to pull a metaphorical rabbit out of a metaphorical hat, or are there some additional requirements? Learning Objectives: Elements of Tax Evasion Define Substantial Tax Deficiency Methods of Proof /episode/index/show/theaterofthecourtroom/id/7534091
info_outline Criminal Tax Liabilities & Sentencing: Part I 11/10/2018
Criminal Tax Liabilities & Sentencing: Part I This is the first of several parts. There is a lot of information to discuss that it might feel like drinking water out of a fire hydrant. Sentencing issues are arguably the most important part of a federal criminal tax case. Because the likelihood of conviction is so high, the best that defense counsel can do for his client is minimize the sentence. The law surrounding federal criminal sentencing is in a stage of upheaval. The Booker case fundamentally altered the legal landscape. This is an unsettled area. This podcast will cover five topics: The U.S. sentencing guidelines – generally Sentencing procedures Booker and its immediate aftermath Specific applications of the sentencing guidelines to criminal tax prosecutions. Recent developments Enjoy the show! /episode/index/show/theaterofthecourtroom/id/7510562
info_outline Demystifying the FBAR 11/07/2018
Demystifying the FBAR This presentation breaks down the FBAR, FinCEN's most common international reporting form. /episode/index/show/theaterofthecourtroom/id/7472501
info_outline Evidence 101 Masterclass - From Torts to Tony Soprano 09/02/2018
Evidence 101 Masterclass - From Torts to Tony Soprano This is a recent presentation that I did with Marino Legal Academy. I am honored to present with such a prestigious CLE provider. Enjoy. /episode/index/show/theaterofthecourtroom/id/6997113
info_outline What Items Are Taxable? 08/06/2018
What Items Are Taxable? A number of events can give rise to taxable income even though you haven't received any cash. In this podcast, we'll discuss constructive receipt and what it means to have a legal right to a payment; tax consequences for a plaintiff in a personal injury action or employment-related matter; cancellation of debt income; and phantom income from pass-through entities and how partners have an obligation to report it even if the partners don't receive a payout. /episode/index/show/theaterofthecourtroom/id/6894579
info_outline Masterclass: How Do I Patent My Mobile App Idea? 07/07/2018
Masterclass: How Do I Patent My Mobile App Idea? You've come up with a creative mobile app idea and you want to protect your idea with a patent. This is smart. Patenting a mobile app is a critical part of protecting your intellectual property and allowing you to seek damages in the event it is infringed upon. Here's what you should know. First, applying for a patent is not easy. It's a detailed and cumbersome process. In this masterclass, I hope to demystify this process by teaching you some key things about the patenting process so you don't have to rack your brain trying to figure it out for yourself. In this podcast, I'll cover the following topics: 1. Why Should You Patent a Mobile App? 2. The United State Patent and Trademark Office (USPTO) Rule; 3. The Requirements for a Patent; 4. How Much Does a Patent Cost? 5. Factors to Consider when Deciding Whether to Apply for a Patent; 6. Other ways to Protect your App Besides Patenting It; 7. Four Step-Process for Patenting Your App i. Step One: Do a patent search. ii. Step Two: Create designs for your App idea to expedite approval from the patent office. iii. Step Three: File for a Provisional Patent. iv. Step Four: Convert Your Provisional Patent Into a Non-provisional Patent. /episode/index/show/theaterofthecourtroom/id/6784137
info_outline Trademark Lessons Learned from a Red Hen 07/03/2018
Trademark Lessons Learned from a Red Hen This podcast deals with the importance of taking action against a third party who misappropriates your trademark and contains a valuable lesson. Enjoy. /episode/index/show/theaterofthecourtroom/id/6772197
info_outline Masterclass: Tips for Buying or Selling A Screenplay 07/01/2018
Masterclass: Tips for Buying or Selling A Screenplay Enjoy this Masterclass. /episode/index/show/theaterofthecourtroom/id/6763537
info_outline Updates on IRS Collection Issues 06/25/2018
Updates on IRS Collection Issues This is an update on IRS Collection issues as they affect taxpayers in the following areas: financial standards in Collection Information Statements (CIS), the updated offer in compromise booklet, and the impact of the new law on the time to file wrongful levy claims. /episode/index/show/theaterofthecourtroom/id/6742321
info_outline Let's Make a Deal - Buying or Selling a Screenplay: Part I 06/24/2018
Let's Make a Deal - Buying or Selling a Screenplay: Part I As both a lawyer specializing in entertainment law and an actor, this topic fascinates me. Because it's so broad, I'm splitting it up into two episodes. In Part I, I cover the basics. In Part II, I will delve into the most common issues that arise when it come to buying or selling a screenplay. See my blogpost on this topic . /episode/index/show/theaterofthecourtroom/id/6738626
info_outline How to Claim an IRS Whistleblower Award 05/16/2018
How to Claim an IRS Whistleblower Award Enjoy the podcast. /episode/index/show/theaterofthecourtroom/id/6600450
info_outline Top 12 Reasons Why New Businesses Fail - Part 2 05/09/2018
Top 12 Reasons Why New Businesses Fail - Part 2 I realize this is a topic entrepreneurs would rather not talk about. But with a recent statistic showing that approximately one in every three new businesses fail within the first two years, it can no longer be ignored. As harsh as this might sound, businesses don’t fail by themselves. Instead, businesses usually fail on account of the owner. The sad part about it is that in most cases, the business owner is oblivious to the fact that the ship is sinking until it is too late. However, with the availability of professional counsel and advice, inexperience no longer has to be "the Mean One (i.e. the Grinch)." It need not be an obstacle to success. Surrounding yourself with the "key players" will help you build a strong and healthy business for years to come. In this podcast, I discuss the twelve reasons why new businesses fail. I've assembled this list not because I want to discourage you or take the wind out of your sails but instead, so that you won't repeat these mistakes. I want to see your business succeed and ultimately thrive. To the extent that I can help you navigate the choppy seas of the start-up world and avoid common pitfalls along the way, I will have done my job. Before you launch your new business, stop and ask yourself: “Will I be making one or more of the following mistakes?” Below is the list. In this podcast (Part 2), I discuss reasons six through twelve. 1. Lack of business planning 2. Lack of Knowledge 3. Lack of Product/Service Differentiation 4. Poor Management and Operations 5. Not Knowing What Customers Need 6. Lack Access to Capital 7. Lack of an Exit Strategy 8. The Wrong Partner 9. No Online Presence 10. No Marketing and Public Relations 11. Significant Market Changes 12. Indifference Towards Cybersecurity /episode/index/show/theaterofthecourtroom/id/6574451
info_outline Top 12 Reasons Why New Businesses Fail - Part 1 05/09/2018
Top 12 Reasons Why New Businesses Fail - Part 1 I realize this is a topic entrepreneurs would rather not talk about. But with a recent statistic showing that approximately one in every three new businesses fail within the first two years, it can no longer be ignored. As harsh as this might sound, businesses don’t fail by themselves. Instead, businesses usually fail on account of the owner. The sad part about it is that in most cases, the business owner is oblivious to the fact that the ship is sinking until it is too late. However, with the availability of professional counsel and advice, inexperience no longer has to be "the Mean One (i.e. the Grinch)." It need not be an obstacle to success. Surrounding yourself with the "key players" will help you build a strong and healthy business for years to come. In this podcast, I discuss the twelve reasons why new businesses fail. I've assembled this list not because I want to discourage you or take the wind out of your sails but instead, so that you won't repeat these mistakes. I want to see your business succeed and ultimately thrive. To the extent that I can help you navigate the choppy seas of the start-up world and avoid common pitfalls along the way, I will have done my job. Before you launch your new business, stop and ask yourself: “Will I be making one or more of the following mistakes?” Below is the list. In Part 1 of this podcast, I discuss the first five reasons. In Part 2, I discuss reasons six through twelve. 1. Lack of business planning 2. Lack of Knowledge 3. Lack of Product/Service Differentiation 4. Poor Management and Operations 5. Not Knowing What Customers Need 6. Lack Access to Capital 7. Lack of an Exit Strategy 8. The Wrong Partner 9. No Online Presence 10. No Marketing and Public Relations 11. Significant Market Changes 12. Indifference Towards Cybersecurity /episode/index/show/theaterofthecourtroom/id/6574441
info_outline District Court of Connecticut Expands Scope of Willfulness Requirement for FBAR Violations 05/08/2018
District Court of Connecticut Expands Scope of Willfulness Requirement for FBAR Violations A new U.S. District court case has zeroed in on the definition of “willful” for purposes of applying the more serious penalties for failure to file tan FBAR. In U.S. v. Garrity, 2018 U.S. Dist. LEXIS 56888 (D. Conn. 2018), the United States District Court of Connecticut dealt taxpayers with undisclosed foreign accounts a hard blow. In advancing to the next stage of trial, the court said that the IRS could prove the elements of its FBAR penalty claim by a mere preponderance of the evidence. What's more, the IRS can carry its burden to prove willfulness by showing reckless conduct by the taxpayer, as opposed to the more stringent "intentional violation" standard required in the criminal context. In this podcast, I discuss the Garrity case and what it means for taxpayers with unreported foreign accounts. I also provide some background about the FBAR requirement and get into a robust discussion about the term, "willfulness" and willful blindness. Finally, I provide examples of situations in which willfulness may exist for purposes of asserting the civil FBAR penalty. /episode/index/show/theaterofthecourtroom/id/6570195
info_outline How Do I Keep An Airtight Corporate Veil For My Business? 05/08/2018
How Do I Keep An Airtight Corporate Veil For My Business? As a general rule, corporations and LLCs are separate and distinct from their shareholders and members. This means that the owners are typically not liable personally for the debts and obligations (including judgments and settlements) of the company. However, sometimes courts see fit to pierce the corporate veil, bypassing the company and finding one or more of the owners personally liable. In this podcast, I discuss best practices that company owners should implement in order to decrease the chances that the corporate veil will be pierced. /episode/index/show/theaterofthecourtroom/id/6570150
info_outline Which Legal Entity Is Best For My Small Business? 05/08/2018
Which Legal Entity Is Best For My Small Business? One of the key decisions you will have to make at the early stages of starting your new company is whether to operate your business as a sole proprietor or structure it as a limited partnership, limited liability company or corporation. In this podcast, I discuss the different legal entities, costs of formation and maintenance, tax consequences of each, and selecting the state in which your proposed entity will be formed. /episode/index/show/theaterofthecourtroom/id/6570107
info_outline Has the Final Curtain Fallen on The Jersey Boys Legal Woes? 05/02/2018
Has the Final Curtain Fallen on The Jersey Boys Legal Woes? Jersey Boys is by far my favorite Broadway musical. For those who are unfamiliar with Jersey Boys, you must be living under a rock! Jersey Boys was a 2005 with music by , and book by and . It is presented in a -style format that dramatizes the formation, success and eventual break-up of the 1960s group . The musical is structured as four "seasons", each narrated by a different member of the band who gives his own perspective on its history and music. Songs include "", "", "", "", "", "", "" and "", among others. The title refers to the fact that the members of The Four Seasons are from and are men. The musical ran on from 2005 to 2017, and since its debut has seen two North American national tours and productions in London's , Las Vegas, Chicago, Toronto, Singapore, South Africa, The Netherlands and elsewhere. Jersey Boys won four 2006 including Best Musical, and the 2009 . Jersey Boys was the behind the scenes story of Frankie Valli and The Four Seasons. From the streets of New Jersey to the Rock and Roll Hall of Fame, this was the musical that rocked the world. Let’s talk about some legal issues that surfaced during the running of the musical. Specifically, there are two cases that grew out of copyright infringement claims and shook the foundation of the Jersey Boys empire. They are and Corbello v. DeVito. In this episode, I'll discuss each case. For those who are die-hard fans of "Jersey Boys," you will love the new musical, "A Bronx Tale" that has taken Broadway by storm. /episode/index/show/theaterofthecourtroom/id/6548578