By: Eli S. Noff, Partner & Mary Lundstedt The recent Tax Court’s Alterman v. Commissioner[1] decision is a lesson in Accounting 101 for Cannabisseurs. Well, technically it’s a valuable lesson about record-keeping to all taxpayers who ...
Read MoreVirtual and Economic Contacts Establish Nexus for Sales Tax
By: Eli Noff, Partner & Mary Lundstedt On June 21, 2018, the Supreme Court delivered its highly anticipated decision in South Dakota v. Wayfair, Inc., et al.[1] The 5-4 decision discards the antiquated “physical presence rule” –...
Read MoreHoweyCoin—Too Good To Be True
By Mary Lundstedt “If you’ve ever been tempted to buy into a hot investment opportunity linked with luxury travel, the Securities and Exchange Commission has a deal for you.” Sound too good to be true? It is. This announcement was made in...
Read MoreIRS Responds to States’ Attempts to Circumvent SALT Cap
By Mary Lundstedt On May 23, 2018, the IRS issued Notice 2018-54,[1] making it abundantly clear that when it comes to state efforts to circumvent the recently enacted state and local tax (SALT) deductions cap, “taxpayers should be mindful that ...
Read MoreDistrict Court Maintains $100,000 Regulatory Cap For Willful FBAR Violations
By: Eli Noff, Partner & Mary Lundstedt, Esq. On May 16, 2018, in United States v. Colliot,[1] the District Court for the Western District of Texas held that the Internal Revenue Service (IRS) is precluded from assessing a willful Report of Foreig...
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