Tax Controversy and Litigation
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Colliot and Its Effect on Penalties for Potential FBAR Violations: Ruling Provides for Significant Limitation on Amount of Penalties

On May 15, 2018, the United States District Court for the Western District of Texas issued an important ruling concerning the application of willful FBAR penalties under 31 U.S.C. § 5321.  In United States v. Colliot, Case No. AU-16-CA-01281-SS (W.D. Tex. 2018), the court held that the Internal Revenue Service (“the Service”) could not assess…

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Responding to an IRS Letter 5935 and IRS Form 15023: What to Do (and Not Do) to Resolve Your Offshore Tax Issues

In recent months, the Internal Revenue Service (“the Service”) began the process of issuing follow-up letters to taxpayers who either requested preclearance to participate in the Offshore Voluntary Disclosure Program (“OVDP”) or who submitted a voluntary disclosure letter within the OVDP.  For those that receive these letters – IRS Letter 5935 and IRS Form 15023…

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Planning to Travel Abroad? Don’t Let the IRS Stop You at the Border. Understanding Recent Guidance Regarding Passport Revocation Rules Under I.R.C. § 7345

As part of the Fixing America’s Surface Transportation Act (“FAST Act”) of 2015, Congress mandated that the State Department deny any passport application for an individual, or revoke any previously issued passport for an individual, if the Internal Revenue Service (“the Service”) certifies that the individual has a “seriously delinquent tax debt.”  In early 2018,…

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2017 Tax Act: Pass-Through Tax Cut Raises Questions

Since Congress passed the Tax Cuts and Jobs Act (the “Act”) on December 20, 2017,  tax professionals and the general public alike have been grappling to understand the Act’s full implications. One noteworthy change brought about by the Act is a new 20 percent deduction of certain business income for qualifying pass-through entities. The pass-through…

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Continuing an Annual Trend, Comptroller Opens Tax Season by Suspending Tax Preparers

On February 2, 2018, the Comptroller issued a press release announcing that he has suspended the processing of electronic tax returns for nine additional tax preparers.  A copy of the press release can be found here.)  The Comptroller acknowledged that these preparers were suspended based upon technology designed to spot instances of fraud used by…

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Gov. Hogan Seeks Legislation to Protect Maryland From State Tax Increases

One of the expected consequences of The Tax Cuts and Jobs Act enacted by the Federal government at the end of 2017 is that residents of higher-tax states, including Maryland, may see higher state tax bills. Maryland’s governor and legislature are examining ways to shield Maryland taxpayers from tax bill increases. The Maryland tax attorneys…

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Tax Changes for Nondisclosure Agreements Relating to Sexual Harassment and Sexual Abuse Lawsuits May Have Consequences for All Parties Involved

For those litigating cases involving alleged sexual harassment or sexual abuse, the Tax Cuts and Jobs Act of 2017 (“the Act”) made an important change that might easily be overlooked.  In pertinent part, Section 13307 of the Act amends Section 162 of the Internal Revenue Code (relating to the deductibility of trade or business expenses)…

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Brewing Interest: How Tax Changes Will Help to Grow the Craft Brew, Winery, and Distillery Industries

While the Tax Cuts and Jobs Act of 2017 (“the Act”) affects many small businesses, alcohol producers are among the few industries that have been specifically targeted for relief.  In addition to rate changes and additional deductions that are available many businesses, the Act benefits craft breweries, wine producers, and distilleries by temporarily reducing the…

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Tax Planning 101 with 529 Plans: How Marylanders Can Reduce Annual Private School Costs by $895 Per Child*

As a result of the tax reform of 2017, the application of qualified tuition programs (“529 Plans” has been broadened dramatically.  By coupling the federal tax benefits of 529 Plans with existing Maryland tax provisions, Marylanders may be able to use these plans to reduce the cost of private secondary education by roughly $895 per…

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Will the New Tax Plan Result in More Divorces in 2018? Eliminating Deductibility of Alimony Payments May Fast-Forward Some Divorces

One of the many changes contained within the Tax Cuts and Job Act of 2017 (“the Act”) may prove to be a boon for divorce (and tax) attorneys in 2018.  As explained in more detail below, section 11051 of the Act does away with the long-standing provision that allowed for the deductibility of alimony payments. …

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Rosenberg Martin Greenberg

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Phone: 410-727-6600
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Rosenberg Martin Greenberg

705 Melvin Avenue Annapolis, MD 21401
Phone: 410-727-6600
Map & Directions