Sanford Millar
Law Offices of Sanford I. Millar

1900 Avenue of the Stars
Suite 650
Greater Los Angeles Area, California 90067, United States
Phone: 310-556-3007
Fax: 310-556-3094
Areas of Practice
  • Business Organizations
  • Taxation

Coinbase to turn over information to IRS. What does it mean for the bitcoin day trader?

On December 6, 2016 the Department of Justice (DOJ) served a “John Doe” summons to Coinbase, a San Francisco based exchange of cryptocurrency, to produce records of accounts held by U.S. taxpayers for the period of 2013 through…more
 /  Criminal Law, Finance & Banking, Science, Computers, & Technology, Taxation

What would happen to the value of cryptocurrencies if Exchanges had to Issue a Form 1099 on an annual basis?

The IRS issued a John DOE Summons for records of U.S. account holders of Coinbase, Inc. (“Coinbase”) a cryptocurrency exchange based in San Francisco, California. Coinbase objected to production of the records and a Summons…more
 /  Commercial Law & Contracts, Finance & Banking, International Law & Trade, Science, Computers, & Technology, Taxation

Thanksgiving Message - Thanksgiving 1967 and 2017

My Thanksgiving Message is that our country is strong and there is reason to be optimistic. Why, look at some of the challenges we overcame 50 years ago; here is a brief recap using random points of comparison…more
 /  Elections & Politics

What If You Are Ineligible For The Offshore Voluntary Disclosure Program? Attorney Proffers versus Quiet Disclosures

Since the beginning of the current Offshore Voluntary Disclosure Programs (OVDP) in 2009 tens of thousands of U.S. taxpayers have come forward to report previously undisclosed foreign financial accounts. The addition of the…more
 /  Commercial Law & Contracts, Criminal Law, Finance & Banking, International Law & Trade, Taxation

Will Your Offshore Bank or Cryptocurrency Exchange Turn You In to the IRS?

Well the results of the Foreign Account tax Compliance Act (“FATCA”) are coming in and the IRS will be stepping up audit of “holder” of unreported account. The exam targets will be U.S. taxpayers who own or control foreign…more
 /  Finance & Banking, International Law & Trade, Taxation

Avoiding the “Automatic” $10,000 Penalty for Late Filing of International Information Returns

Taxpayers who fail to timely file international information returns, such as Form 3520, Annual Return of a Controlled Foreign Corporation are subject to an automatic assessment of $10,000 per return per year up to a maximum of…more
 /  Business Organizations, International Law & Trade, Taxation

Offshore Assets May Be Subject to Enforced Collection by the IRS

The fact that you may have assets offshore does not mean that they are immune from seizure by the IRS. A recent case illustrates how the IRS can enforce collection outside the United States…more
 /  Finance & Banking, International Law & Trade, Taxation

The Manafort Indictment and what it means to you.

On October 30, 2017 Paul Manafort, the former campaign chair for president Donald Trump was indicted by a Federal Grand Jury in the District of Columbia. The charges arise from Manafort's unregistered consulting and lobbying…more
 /  Elections & Politics, Finance & Banking, International Law & Trade, Taxation

A valid marriage is required to file a Joint Return. What is a valid marriage?

Assuming that you have a valid marriage for federal income tax purposes, as defined in “Section 301.7701-18(b) (1) of the Procedure and Administration Regulations that a marriage of two individuals is recognized for federal tax…more
 /  Family Law, Taxation

Is there a crypto-currency (Bitcoin) investment in your future?

Crypto-currencies, such as Bitcoin have been generally talked about in the context of the "dark Web) and as a mechanism to pay for illegal activities. But there is another aspect to crypto-currencies and that is as an…more
 /  Business Organizations, Finance & Banking, Science, Computers, & Technology, Securities Law

Do Not Expect Anonymity from Virtual Currency

There is a widely held misconception that using virtual currency such as BitCoin assure the users that their transaction is anonymous. For this reason virtual currency is used to move money from countries with currency control…more
 /  Finance & Banking, Science, Computers, & Technology, Taxation

Cash Purchasers of Real Property Face Renewed Focus

In the course of our practice we represent foreign investors in real property. In addition to providing tax advice on how to best structure a real property investment we focus on advising our clients on how comply with…more
 /  Business Organizations, Finance & Banking, Privacy, Real Estate - Residential

How Not to Avoid Paying Taxes

Don't turn a civil tax liability into a criminal tax case. One of our missions at MillarLaw is to help clients avoid making mistakes that can turn a civil tax case into a criminal tax case. The typical scenario is a taxpayer…more
 /  Bankruptcy, Taxation

Government Refuses to Define "willfulness" for FBAR Purposes

Whether a taxpayer's conduct in failing to report foreign financial accounts is "willful" or "non-willful" makes a huge difference in penalty determination. However the government refuses to publish a definition of…more
 /  Finance & Banking, International Law & Trade, Taxation

Properly structured foreign gifts of real property property can be estate and gift tax free

The investment in U.S. real property by Non-residents can be structured to minimize estate and gift taxes. The key is to structure the investment through a limited liability company, limited partnership or corporation so that…more
 /  Business Organizations, Real Estate - Commercial, Real Estate - Residential, Taxation, Wills, Trusts, & Estate Planning
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