Uncle Sam Enlists Another Collections Agent
Global-Tax-Weekly_July 30
Four More Banks Reach Resolutions with U.S. Government for NPAs
Global-Tax-Weekly_June 25
Trouble In Paradise
Former Congressman Barney Frank recently remarked that the financial reform law that partially bears his name is in a unique position, because “No program in American history could more clearly combine two elements: great success and absolute unpopularity.” While the jury is still out on the “great success” of Dodd-Frank, there is no doubt that […]
‘Justice Delayed Is Justice Denied’?
Wighead English jurist William Gladstone, the author of this famous quote, was obviously not a criminal defense lawyer. In many, if not most, cases, delay is a fundamental element of a successful defense, or even the lynchpin of the entire schmear. Over time, memories fade, evidence is lost (or at least becomes more difficult to […]
Simplifying “Tax Speak” So That It Is Accessible to the Average Joe
Have you ever gone to a technical talk or presentation excited about the topic, only to be frustrated by the speaker’s technical jargon and stiff delivery? If you’re a tax professional, you’ve likely been to more of these presentations than you care to remember (perhaps even reluctantly if you have waited until the eleventh hour […]
You Came Up Short
Governments will try to get away with almost anything during wartime. In the Civil War, President Abraham Lincoln suspended the writ of habeas corpus so federal authorities could lock up suspected Confederate sympathizers and throw away the keys. This action was more than mere ink on paper; it was very vigorously enforced, especially in Maryland […]
I’m Sorry
In 1811, President James Madison started the Federal Conscience Fund, which allows guilt-ridden Americans to surreptitiously atone for their financial sins. Over the years, generous benefactors have achieved various levels of catharsis. Typical donors range from guilty individuals, such as a Massachusetts woman who mailed in nine cents, because she re-used three postage stamps, to […]
‘I Wish I May Never Hear Of The United States Again!’
In a classic example of “be careful what you wish for,” the fictional Lt. Philip Nolan uttered these famous words during his treason trial as Aaron Burr’s accomplice, in Edward Everett Hale’s 1863 propaganda short story – “The Man Without A Country.” As the narrative progresses, and Lt. Nolan is quite literally adrift on an […]
FBAR Due Date Changed
The short-term highway funding extension was passed by the Senate and the House of Representatives and was signed into law by President Obama on July 31, 2015. It contains several important tax provisions (H.R. 3236 (https://www.congress.gov/114/bills/hr3236/BILLS-114hr3236ih.pdf)). The bill changes the due dates for several common tax returns, overrules the Supreme Court’s Home Concrete decision, mandates the reporting of additional information on […]
From Gumshoe To Gavel: The Required Records Doctrine And The Fifth Amendment Act-of-production Privilege Against Self-incrimination for Documents Relating to Foreign Accounts
Although it didn’t have the panache of Dark Justice, a vastly underrated drama, in my humble opinion, the Law & Order franchise was once almost as ubiquitous as stars in the sky or grains of sand on the seashore. These shows featured solid writing and good acting, along with a half cop show/half lawyer show […]