New Mandatory Filing Requirement for U.S. Persons with an Ownership Interest in a Foreign Business

taylorlaw | 06/01/2015

Most taxpayers are familiar with the need to file forms to report to the IRS foreign financial accounts and interests in foreign corporations and partnerships. There is one other filing requirement, Form BE-10, which is called the Benchmark Survey of U.S. Direct Investment Abroad. The survey is conducted every five years. The survey for 2014 was originally required to be filed by May 29, 2015.  Due to the lack of publicity, the due date has been extended to June 30, 2015.  It is to be filed with the Department of Commerce ‘s Bureau of Economic Activity.

Congress enacted legislation in 1976 authorizing the Commerce Department to collect information about U.S. ownership of foreign business entities every five years. The legislation is codified at 22 U.S.C. secs. 3101 et seq. Prior to the report for the 2014, year, filing was discretionary. The form for 2014 is mandatory and is required to be filed by June 30, 2015. By law, the information provided is to be confidential and is only to be used for statistical and analytical purposes.

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Court Jurisdiction: It’s Not Just for Law Professors

taylorlaw | 03/12/2015

This article appeared in the January 2015 issue of CCH’s Journal of Tax Practice & Procedure. Download article here.

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Discretionary Disallowance of Compensation Paid to Workers: The Need for Guidance under R&T Code Sections 17299.8 and 24447

taylorlaw | 03/05/2015

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Download publication here. 

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Tax Collection

taylorlaw | 11/29/2014

  • Attorneys in the firm have authored articles and a number of legislative and administrative proposals, including proposals dealing with “Innocent Spouse” laws and Collection Due Process appeals. A number of the ideas contained in these proposals were eventually enacted into law, including a) the expansion of the Tax Court’s jurisdiction in Collection Due Process cases, b) modification of the Tax Court’s jurisdiction in Innocent Spouse cases, and c) an increase in the amount of damages available when the IRS violates the law while seeking to collect taxes.
  • ““Litigating the FBAR Penalty in District Court and the Court of Federal Claims,” California Journal of Tax Litigation (March, 2014)
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Bankruptcy and Insolvency Tax

taylorlaw | 11/29/2014

The following is a list of several bankruptcy and insolvency tax publications.

2009

“Does a State Court’s Approval of a Final Account and Report Bind Federal Entities?”, California Receivership News, a magazine publication of the California Receivers Forum (Summer 2009)

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What Constitutes an Attempt to Evade or Defeat Taxes

taylorlaw | 11/29/2014

What constitutes an attempt to evade or defeat taxes for purposes of Section 523(a)(1)(C) of the bankruptcy code: the ninth circuit parts company with other circuits.

BY A. LAVAR TAYLOR

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IRS Criminal Investigation Division Announces New Policy on Structuring Cases

taylorlaw | 03/05/2015

The IRS has recently issued a new policy relating to civil forfeiture in structuring cases. Structuring is the practice of executing financial transactions in a pattern calculated to avoid the creation of certain records or reports. Pursuant to 31 CFR §103.22, financial institutions are required to report each deposit, withdrawal, exchange of currency or other payment or transfer, by, through, or to such financial institution which involves a transaction in currency of more than $10,000. When an individual or business deposits or withdraws more than $10,000 in currency through a financial institution, the institution files a currency transaction report (CTR). CTRs are used by the government as a way to verify income and to catch individuals engaged in illegal transactions and money laundering.

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Court Jurisdiction: It’s Not Just for Law Professors By A. Lavar Taylor

taylorlaw | 03/05/2015

Lavar Taylor is the Founder of Law Offices of A. Lavar Taylor, APC, in Santa Ana, California. He has li8gated cases in all of the courts discussed in this article, as well as in the federal Courts of Appeals and the U.S. Supreme Court.

INTRO Lavar Taylor discusses the statutes governing the jurisdiction of the four key courts which have jurisdiction over almost all civil tax disputes at the trial level (i.e., the Tax Court, District Courts, the U.S. Court of Federal Claims, and Bankruptcy Courts) and also examines some of the case law which interprets these jurisdictional provisions.

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Can the IRS collect from the general partner for the partnership’s tax liabilities?

taylorlaw | 03/05/2015

Brief filed with the United States court of Appeals for the  Ninth Circuit.

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