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Full-Text Articles in Law
Severity Under Scrutiny: The U.S. Supreme Court Battle Over The Fbar Penalty, Beckett Cantley, Geoffrey Dietrich
Severity Under Scrutiny: The U.S. Supreme Court Battle Over The Fbar Penalty, Beckett Cantley, Geoffrey Dietrich
The Journal of Business, Entrepreneurship & the Law
In recent years, Congress strengthened federal regulation of foreign bank accounts held by United States citizens. In 1970, Congress passed the Bank Secrecy Act (BSA), requiring U.S. citizens to report their foreign bank accounts using a form called the Foreign Bank Account Report, or “FBAR.” However, the Treasury Department rarely enforced this requirement. After the Patriot Act’s passage came the Bank Secrecy Act 2004 amendment, allowing the Treasury Department to delegate enforcement of U.S. foreign bank account reporting to the Internal Revenue Service (IRS) through the FBAR. The amendment’s major change to the law concerned new penalties for non-willful FBAR …
How To Accomplish A Successful Tax-Free Pension Plan Rollover, Steven T. Graham
How To Accomplish A Successful Tax-Free Pension Plan Rollover, Steven T. Graham
Pepperdine Law Review
Advising a client how to accomplish a tax-free rollover from one pension plan to another has been an area of confusion for the general practitioner. In order to end this confusion the author examines recent statutory amendments, Internal Revenue Service rulings and the Employee Retirement Income Security Act. The author then outlines, in conjunction with the recent changes in the law, potential pension plan rollover scenarios that can aid the client. After a thorough discussion of the available rollovers and the benefits and drawbacks of each, the author concludes with a chart designed to provide quick identification of the most …
Horse Syndication: A Sure Footed Winner In The Investment Sweepstakes, Thomas R. Catanese
Horse Syndication: A Sure Footed Winner In The Investment Sweepstakes, Thomas R. Catanese
Pepperdine Law Review
Recent changes in the scheme of federal taxation coupled with increasing interest in the equine industry has propelled that industry into the forefront of tax sheltered investments. In this article the author takes an in-depth look at the federal securities and tax law aspects of a typical equine syndication as a tax sheltered investment.