Offit Kurman’s Post

📢 Facing an IRS LT11 Notice? We’re Here to Help! 💼 The IRS can issue serious penalties, but at Moncarz Law Firm, we provide expert advice to help taxpayers avoid them. We work with you to find the best solution and protect your assets. 📲 Call us today at 786-541-2705 and let’s resolve your IRS issue before it escalates. 🛡️💡 #TaxHelp #LT11Notice #MoncarzLawFirm #IRSPenalties #TaxRelief #IRSAdvice #TaxLawyer #AssetProtection #TaxResolution

Should trial lawyers avoid depositing large recoveries into an IOLTA? Does that mean clients lose interest? If you create a Qualified Settlement Fund in a taxable state, are clients also paying more tax? When should you check for tax savings and government benefits? Trial lawyers coordinating settlement payment are subject to many ethics rules. Jeremy Babener discusses them and various ways to handle settlements payments. Expert quotes by ethics expert Kendra Basner, President-Elect of the ASSOCIATION OF PROFESSIONAL RESPONSIBILITY LAWYERS, tax attorney Matt Meltzer, and Chief Trust Officer Rachel McCrocklin. https://shorturl.at/UC0hQ #PlaintiffLawyer #LegalEthics #Settlements 

Important update for estate planning: The IRS has announced a new law regarding irrevocable trusts, eliminating the step-up in bases. Stay informed with #taxlaw changes #estateplanning #financialplanning

The time-barring chart is essential for authorities, as it limits their ability to issue Show Cause Notices (SCN) or Orders beyond specific deadlines. But it’s equally important for taxpayers to stay aware of these dates to safeguard against potential litigation. ✔️ Know the deadlines ✔️ Keep documentation ready ✔️ Stay prepared in case a notice comes your way Being informed can save you from unnecessary disputes! #TaxCompliance #TimeBarring #TaxLaw #GST #Documentation #TaxpayerRights

𝐓𝐫𝐮𝐬𝐭𝐞𝐞 𝐚𝐝𝐦𝐢𝐧𝐢𝐬𝐭𝐫𝐚𝐭𝐢𝐯𝐞 𝐝𝐮𝐭𝐢𝐞𝐬 𝐮𝐧𝐝𝐞𝐫 𝐭𝐡𝐞 𝐬𝐩𝐨𝐭𝐥𝐢𝐠𝐡𝐭 With new reporting obligations on trustees and SARS intensifying its submission requirements in respect of trust tax returns, no trustee can afford to ignore the administrative duties imposed upon them in terms of common law and statutory law. In this article, we briefly list some of the main administrative duties falling to any trustee. 𝐑𝐄𝐀𝐃 the full article: https://lnkd.in/dpTYDhjq 𝐖𝐫𝐢𝐭𝐭𝐞𝐧 𝐛𝐲: Elani Van Coller #yourpersonaladvisor #phthoughtleader #trust #Trustees #taxreturn

Learn from This S Corp Dispute: Protect Your Business! A recent Tax Court case (James J. Maggard v. Commissioner) serves as a reminder for S corporation owners: When ownership changes, failing to update bylaws and operating agreements can lead to disputes, IRS scrutiny, and costly litigation. Key Takeaways: 👉 Disproportionate Distributions: Unauthorized payouts caused financial and legal turmoil. 👉 S Status Preserved: The company’s governing documents were compliant, but outdated agreements escalated conflicts. 👉 The Lesson: Always update your bylaws and operating agreements promptly after ownership changes to ensure compliance and avoid disputes. #TaxTips #SCorporation #BusinessCompliance #SmallBusiness #OwnershipChanges

If you've received a Director Penalty Notice (DPN) from the Australian Taxation Office (ATO), understanding your rights and obligations is important. Ignoring it or mishandling the situation could lead to serious personal financial consequences. Keep reading to know the different types of DPNs, how to respond, and how to protect yourself from personal liability. https://lnkd.in/gcWAhNWZ But really — the best way to handle this is with expert legal advice. Speak with our team today. Call us at rcrlaw.com.au/contact-us #DirectorPenaltyNotice #ATODebt #LegalAdvice

The recent increase in investigations undertaken by HMRC, coupled with differing views as to the speed and cost of court litigation for matters that develop into disputes, has led  advisers and taxpayers to consider how best they can robustly defend their position in a cost-effective manner. https://buff.ly/4hmOtWv TaxInvestigations #Disputes

A NING Trust got a back name from the State of California recently, but Bridge Law clients were unaffected -- and that's because when we write NING trusts, we aren't really writing NING trusts! Confused? Good, you should be. If you have income - especially from a brokerage account - we can remove that income from California tax by using a specialized version of the NING Trust that is still available, if done right. - Are you exposed to high state income and tax burden? - Are you facing large amounts of capital gain taxes in California? - Are you in need of legal shielding seeing robust asset protection from creditors or potential lawsuits? These are some questions we will be asking you should you be interested in a specialized version of the NING Trust. 📞714-525-2400 https://lnkd.in/gKS_5wSP #lawfirm #estateplanning #beneficiaries #crossbordertax #ningtrust #hnwi #gifting #assetprotection

💼 Noncompliance with foreign ownership reporting could cost you big—$60,000 annually to be exact. Recently, the IRS issued hefty penalties for failing to disclose foreign company ownership. No court trials, just direct enforcement. With fines escalating by $50,000 for delayed compliance, the stakes are high. But is this legal? The controversy around such enforcement highlights the tension between taxpayers' rights and compliance demands. 👉 What’s your perspective? Should the IRS wield such power? Comment below and stay tuned for Part 2, where we’ll uncover the final verdict. #TaxMystery #IRS #TaxPenalties #ForeignOwnership #TaxLaw #TaxCompliance #TaxReporting #OffshoreTax #IRSRules #TaxNews #FinanceTips #TaxPlanning #IRSNotice #Penalty #ForeignInvestments #TaxSeason #TaxFraud #GlobalTaxation #ComplianceMatters #FinancialFreedom #TaxHelp #USLaw #AccountingLife #IRSRegulations #TaxTips #LawAndOrder #StayCompliant #AvoidPenalties #FinanceMatters #TaxAdvice