COVID news for Taxpayers: Don’t worry about your FinCEN Form 114 (your FBAR) – it is not due until October 15, 2020 You may know that the FinCEN Form 114, Report of Foreign Bank and Financial Accounts (“FBAR”) is used to report a financial interest in or signature authority over a foreign financial account. The…

Incoming European Commission President Ursula von der Leyen has set out as her primary goal moving forward the mission of further unifying Europe and “protecting the European way of life.”  As a result, there will continue to be close oversight and aggressive regulation of non-European companies under the new EC administration set to take office…

Rimon’s Susan Klein was listed, for the third consecutive year, in Women in Tax Leaders by Euromoney’s International Tax Review. Women in Tax Leaders by Euromoney’s International Tax Review lists the women advisers who are making an impact in their specialized jurisdictions and industries. The women listed are clearly leaders in tax and have a proven track…

Ajay Whittemore joins Rimon Law as a Partner in its Tax and Trust and Estate groups. Mr. Whittemore’s practice focuses on international tax planning and controversies. In the planning area, Mr. Whittemore advises clients regarding both inbound and outbound matters, including tax treaty analysis, transfer pricing, tax deferral opportunities, and the architecture and implementation of tax-efficient business structures. He also advises private…

No topic in the state tax world is more controversial than the potential imposition of sales and use tax collection responsibilities on remote vendors (i.e.,retailers lacking substantial nexus with the state at issue). The dispute is loud and public, with battle lines that seem to offer no real hope for compromise. The states estimate that…

The Good News: The existing “Streamlined” procedure for non-resident, non-compliant taxpayers has been expanded significantly to permit many more non-filers to qualify for full abatement of penalties. Like the existing procedure, the new procedure (available here) requires taxpayers to file tax returns for the three most recent years and to file foreign bank account reports (FBARs) for…

Law firms need to take a lesson from their business-clients by utilizing technology to become more efficient and cut costs to clients. During the economic downturn, the quest for efficiency has been a primary focus for many companies struggling to adjust to the new business climate.  Many companies are finding that Web 2.0 technologies are…

Recent moves into Israel by companies from the Silicon Valley are a reminder that there are still many untapped opportunities for economic cooperation between two of the world’s foremost centers of high technology.  Innovative business cultures and common values make Israel and the Silicon Valley natural partners in the world of high-tech and venture capital.…

In his speech before the 23RD Annual Institute on Current Issues in International Taxation in Washington, DC on December 9, 2010, IRS Commissioner Douglas Shulman said that the IRS is “seriously considering” a new partial amnesty program for taxpayers who report secret offshore bank accounts. Shulman said that the IRS may repeat a voluntary disclosure…

On May 28th, the House passed H.R. 4213, the “American Jobs and Closing Tax Loopholes Act.” The Act addresses an array of issues, but has particular signficance for certain partnership and LLC “carried interests” for investment fund managers. If it goes through, the Act would prevent investment fund managers of venture capital, private equity, hedge…