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Federal District Court in Alabama Rules Corporate Transparency Act Unconstitutional … But Don’t Dismiss It Yet!

On March 1, 2024, the U.S. District Court of the Northern District of Alabama ruled that the Corporate Transparency Act (“CTA”) is unconstitutional because it “exceeds the Constitution’s limits on the legislative branch” and...more

Corporate Transparency Act Will Soon Impose New Disclosures to FinCEN

Beginning on January 1, 2024, the Corporate Transparency Act (the “CTA”) will impose a new obligation on many business entities formed or registered to do business in the United States to disclose their “beneficial owners”...more

IRS Announces September 2018 End to Offshore Voluntary Disclosure Program

The Internal Revenue Service (“IRS”) announced it will close the highly successful Offshore Voluntary Disclosure Program (“OVDP”) on September 28, 2018, which presumably will be the final date for taxpayers to submit a...more

Overview of IRS Penalties for Individuals with Foreign Bank Accounts and Investments

Earlier this spring, the Internal Revenue Service ("IRS") Large Business and International Division identified several "campaigns" or areas where it plans to focus its audit resources. One campaign involved taxpayers who...more

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