Sanford Millar – Law Offices of Sanford I. Millar

1900 Avenue of the Stars Suite 650
Greater Los Angeles Area, California 90067, United States

  • 310-556-3007
  • 310-556-3094

Don’t Stop Corporate Inversions

If you want to see specific stocks take a hit then stop corporate inversions. Corporate inversions are the relocation of a U.S. company’s corporate domicile, (its formal headquarters) to a lower tax jurisdiction. Inversions are…more
| Commercial Law & Contracts, Elections & Politics, International Law & Trade, Taxation

What Does a Fiduciary Do When Advised of an Offshore Account?

On June 18, 2014 the IRS announced changes to the Offshore Voluntary Disclosure Program (OVDP). The changes include the following..…more
| Criminal Law, Finance & Banking, International Law & Trade, Taxation

Forget About Hiding Money Offshore!

On July 21, 2014 the OECD released the full version of a new global standard for the exchange of financial information in tax matters “OECD\Standard for Automatic Exchange of Financial Account Information in Tax Matters”…more
| Criminal Law, Finance & Banking, International Law & Trade, Taxation

Streamline Certification Advice

Effective July 1, 2014 new Streamline Procedures for voluntary disclosures may provide some taxpayers the opportunity to pay a substantially reduced or no penalty FBAR penalty depending upon whether they are domestic or…more
| Finance & Banking, International Law & Trade, Taxation

Reporting Foreign Account Gifts

One of the areas of inquiry that is certain to receive increased attention by the IRS and Department of Justice (DOJ) is the claim that the funds in offshore accounts were the result of a “gift”. The proper documentation of…more
| Finance & Banking, International Law & Trade, Taxation, Wills, Trusts, & Estate Planning

False Foreign Gift Claims and Wire Fraud

A scheme that some dual national taxpayers have used involves claiming exemption from foreign jurisdiction taxation because they are U.S. taxpayers and then not reporting the offshore account or its income as required by U.S…more
| Criminal Law, Finance & Banking, International Law & Trade, Taxation, Wills, Trusts, & Estate Planning

Traps Within the new Streamline Offshore Account Disclosure Program

The new Streamlined Filing Compliance Procedures (the Streamline Procedures) go into effect July 1, 2014. Under the terms of the procedures some taxpayers will suffer no penalty for failure to timely file FBARs, (in the case of…more
| Finance & Banking, International Law & Trade, Taxation

Updated Roadmap To IRS’ 2014 Offshore Voluntary Disclosure Program For Taxpayers With Undisclosed Offshore Accounts

On June 18, 2014 the Internal Revenue Service (“IRS”) announced a modification to the 2012 Offshore Voluntary Disclosure Program (“OVDP”). The 2014 OVDP is a continuation of the 2012 program with modified terms. The voluntary…more
| Criminal Law, Finance & Banking, International Law & Trade, Taxation

IRS Offshore Enforcement Update

In a recent appearance before THE U.S. Conference for International Business the IRS Commissioner stated the following: “One of the most exciting aspects of our current times is to see governments working so…more
| Criminal Law, Finance & Banking, International Law & Trade, Taxation

Roadmap To IRS' Offshore Voluntary Disclosure

In January of 2012 the Internal Revenue Service enacted the Offshore Voluntary Disclosure Program, or OVDP for short. This is actually the third recent version of the offshore voluntary disclosures. The voluntary disclosure…more
| Criminal Law, Finance & Banking, International Law & Trade, Taxation

DOJ Waging War Against Offshore Shell Companies

A Florida doctor was recently sentenced to multiple years in prison for income tax evasion. The taxpayer hid income and assets through the use of offshore bank accounts concealed by the use of offshore shell companies. This is a…more
| Criminal Law, Finance & Banking, International Law & Trade, Taxation

Indicted Banker May Provide Valuable Leads

The following is an excerpt from a press release issued April 30, 2014 by Department of Justice, Tax Division (DOJ) announcing the indictment of a former senior officer of the Beverly Hills branch of an Israeli bank. The…more
| Criminal Law, Finance & Banking, International Law & Trade, Taxation

FBARS Are Due June 30, Who Must File

The IRS recently released an FBAR Reference Guide, pertinent portions of which are reprinted below. Who Must File the FBAR? A United States person must file an FBAR if that person has a financial interest in or…more
| Criminal Law, Finance & Banking, International Law & Trade, Taxation

Offshore Disclosure: What Needs To Be Disclosed? A Checklist

The following is a list of questions that should lead to the discovery of offshore assets, whether properly reported or not. If you answer yes to any of these questions, then you may have filing obligations and should seek…more
| Finance & Banking, International Law & Trade, Taxation, Wills, Trusts, & Estate Planning

Are you an innocent spouse for FBAR purposes?

The U.S. Tax Court (Tax Court) has restated the basic principles for a person to obtain “innocent spouse” relief from tax assessments. The criteria are as follows..…more
| International Law & Trade, Taxation
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Areas of Practice
  • Business Organizations
  • Taxation
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