NEW YORK, Jan. 28, 2019 /PRNewswire/ -- Below are experts from the ProfNet network who are available to discuss timely issues in your coverage area.
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EXPERT ALERTS
- IRS Notices During Government Shutdown
- Bitcoin Losses and Tax Liability
- Gift Taxes and POTUS Tax Returns
MEDIA JOBS
- Latin America Reporter – Energy Intelligence (NY/TX/DC)
- Reporter, CMO Today – The Wall Street Journal (NY)
- Journalist Applicants – Columbia University Energy Journalism Initiative (NY)
OTHER NEWS & RESOURCES
- 9 Tips to Help You Conquer Writer's Block and Start Writing
- For Love of the Game: 5 Sites We Love for Sports News
- Book Publishing: What It Takes to Get Published in 2019
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EXPERT ALERTS
IRS Notices During Government Shutdown
Mark E. Matthews
Member
Caplin & Drysdale, Chartered
Washington, DC
"Although not the fault of the IRS or its employees, the IRS computers still send notices with required response dates, such as about liens or levies, that are alarming to our clients. Because we can't reach IRS employees, there is nothing we can do really, other than assure the clients that no such actions are likely until the shutdown is over." Matthews said the shutdown, in some respects, feels like a continuation of problems that have plagued the IRS over years of budget cuts and staff reductions. "It's just an exacerbation of the problem of insufficient resources in tax enforcement," he said. "It was sort of already bad enough, and this just makes it worse."
Matthews focuses his practice on criminal tax enforcement, broad-based civil tax compliance, the Foreign Corrupt Practices Act (FCPA), white collar matters, and anti-money laundering matters. He also advises clients on the IRS voluntary disclosure program, with focus on disclosure related to offshore banking accounts. Matthews was previously Global Co-Head of Anti-Money Laundering at Deutsche Bank, where he oversaw implementation of the Patriot Act. Prior to that, he was Chief of the IRS Criminal Investigation Division, the agency's investigative and law enforcement arm, renowned for its expertise in investigating financial crime, including tax, money laundering, narcotics, and terrorism-related matters. Other government positions Matthews has held include Deputy Assistant Attorney General of the U.S. Department of Justice Tax Division (1994-1998), where he led the Department's criminal tax enforcement program, and Senior Advisor to the Treasury Department's Assistant Secretary for Enforcement (1993-1994), where he was Director of the Treasury Department's Anti-Money Laundering Task Force. Matthews was also an Assistant U.S. Attorney in the Southern District of New York and then a Deputy Chief of that office's Criminal Division, as well as special assistant to Director William H. Webster, first at the FBI and then at the CIA.
Website: http://www.capdale.com/
Contact: Adam Fauerbach, adam.fauerbach@kglobal.com
Bitcoin Losses and Tax Liability
Victor Jaramillo
Member, Tax Attorney
Caplin & Drysdale, Chartered
Washington, DC
On Bitcoin Losses: "The people who are suffering right now are people who were buying at the end of last year, when Bitcoin was shooting up past five thousand, seven thousand, fifteen thousand. If you invested two years ago, you're still in the green. Given crypto's general trajectory, though, even those who haven't lost money might be thinking of selling their holdings. Those hoping to minimize their tax liability can offset those gains by selling other assets that have dropped in value. It's also possible to donate bitcoin, just as one might donate appreciated stock— but your recipient would need to be technically able to accept the donation.
Jaramillo advises multinational corporations, financial institutions, and individual clients on a broad range of tax matters, including tax controversies, risk management and international compliance, and cross-border structuring. He also utilizes his Spanish fluency to advise Spanish-speaking clients. His major areas of practice include subpart F, tax treaty issues and competent authority proceedings, FATCA entity classification and compliance, withholding and information reporting, financial products, and individual compliance. Jaramillo also advises on the international tax issues of high-net-worth clients with respect to pre-immigration and structuring cross-border investments. He has extensive experience advising both U.S. taxpayers and individuals living abroad with undisclosed foreign assets on U.S. tax compliance issues, especially those with foreign business and trust interests.
Website: http://www.capdale.com/
Contact: Adam Fauerbach, adam.fauerbach@kglobal.com
Gift Taxes and POTUS Tax Returns
Beth Kaufman
Member
Caplin & Drysdale, Chartered
Washington, DC
On POTUS Tax Returns to CBS News: "Gift taxes, one line of inquiry used in The New York Times' recent investigation of Fred Trump's real estate empire, could be similarly fruitful for his son. Gift tax returns could, for instance, show whether Mr. Trump has given away any assets and whether he has placed any into trusts. Your run-of-the-mill person never files one in their entire life; your millionaire or billionaire files one every year. They're going to have to dig down into returns filed by LLCs, partnership returns. Almost none of that is copied on [Mr.] Trump's returns. I think there are going to be waves of requests to get into this."
Kaufman was President of Caplin & Drysdale from 2015 to 2018 and continues as an active member of the firm's Board of Directors. She rejoined the firm's Private Client Group in 2001 after working for over six years in the Treasury Department's Office of Tax Policy. Serving first as Attorney Advisor and then as Associate Tax Legislative Counsel, Kaufman had principal responsibility for all tax policy matters affecting trusts and estates, including estate, gift, and generation-skipping transfer taxes, as well as income taxation of trusts and estates. She has continued her focus in these areas in private practice. While with the government, Kaufman was the primary Treasury representative involved in the legislative and regulatory developments affecting the taxation of trusts and estates. Legislative projects included the Taxpayer Relief Act of 1997 and the Economic Growth and Tax Relief Reconciliation Act of 2001. Regulatory projects included regulations on qualified domestic trusts, generation-skipping transfer tax, charitable remainder trusts, charitable lead trusts, adequate disclosure for gift tax purposes, separate share, definition of foreign and domestic trusts, and valuation tables.
Contact: Adam Fauerbach, adam.fauerbach@kglobal.com
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MEDIA JOBS
Following are links to job listings for staff and freelance writers, editors and producers. You can view these and more job listings on our Job Board: https://www.cisionjobs.com/jobs/united-states/
- Latin America Reporter – Energy Intelligence (NY/TX/DC)
- Reporter, CMO Today – The Wall Street Journal (NY)
- Journalist Applicants – Columbia University Energy Journalism Initiative (NY)
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OTHER NEWS & RESOURCES
Following are links to other news and resources we think you might find useful. If you have an item you think other reporters would be interested in and would like us to include in a future alert, please drop us a line at profnetalerts@prnewswire.com
- 9 Tips to Help You Conquer Writer's Block and Start Writing. Have a mental block while writing? Knowing the common causes and simple solutions for writer's block can help: https://prn.to/writersblocktips
- For Love of the Game: 5 Sites We Love for Sports News. Sports sites provide important info on breaking news as well as detailed feature stories: https://prn.to/5sportssites
- Book Publishing: What It Takes to Get Published in 2019. Aspiring authors need to know so much. We break things down (first in a four-part series): https://prn.to/bookpublishpart1
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