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Taxcode Nano: The On-going Discussion of Tax Reform and Simplification

Taxcode Nano: The On-going Discussion of Tax Reform and Simplification GUEST BLOGGER Matthew Walsh WithumSmith+Brown Princeton, NJ     In what seems to be one of the most prevalent campaign pitches in each election of recent memory, the reformation of the U.S. tax code has once again begun (continued) in Washington. In the most recent...

INVESTMENT COMPANY ACCORDING TO GAAP

INVESTMENT COMPANY ACCORDING TO GAAP Last week the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No 2013 – 08 – Amendments to the Scope, Measurement and Disclosure Requirements contained in Topic 946 – Financial Services – Investment Companies. I know, blogs are typically meant to be more light in nature and not...

Criminal Results of IRS Offshore Push Prove Lenient

Criminal Results of IRS Offshore Push Prove Lenient GUEST BLOGGER Matthew Walsh WithumSmith+Brown Princeton, NJ     Starting in 2009, the U.S. government began an outward push to punish those taxpayers who hold foreign bank accounts and have previously neglected to report them on the informational Foreign Bank Account Report. While multiple amnesty programs have...

RESCISSION – LOSE YOUR SHIRT AND GET A REFUND PLUS INTEREST

RESCISSION – LOSE YOUR SHIRT AND GET A REFUND PLUS INTEREST Reading in the Wall Street Journal, yesterday, I came across an article that troubled me. The article discussed a recent speech given by David Blass, chief counsel of the division of trading and markets of the Securities and Exchange Commission, to a group of...

SEC EXAMINATIONS TO LOOK OUT FOR

SEC EXAMINATIONS TO LOOK OUT FOR I thought I would get back into the saddle and write this week’s blog. Seems Tony and Bob are knee deep in reviewing tax returns, literally. I walked by and for an office that is supposed to be paperless there were returns piled on their desks so high that...

Inside the Life of a Dutch Entrepreneur

Inside the Life of a Dutch Entrepreneur GUEST BLOGGER Corney Versteden, LLM Senior Tax Partner HLB Van Daal & Partners NV in Waalwijk, The Netherlands   While I was flying to Hong Kong last week, I realized that Dutch entrepreneurs no longer sail the oceans in big ships.  They now fly around the world in...

The Most Complicated Partnership Tax Return, Ever

The Most Complicated Partnership Tax Return, Ever I told Frank that I, Bob Demmett, would write the blog this week to publicly thank him for giving me one of the most complicated partnership tax returns, ever. As Frank mentioned in last week’s blog, this client had everything: contribution of appreciated property, foreign partners, Section 754...

VALUATION, VALUATION, VALUATION

VALUATION, VALUATION, VALUATION Ok, I had to come back.  All this talk of me lying on some beach in the Caribbean is all wrong.  After I got back from San Diego, I became buried in audits.  I did pass Bob’s office and, as I suspected, his feet were up on the desk as he was...