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

Cryptocurrency and Money Laundering

In a recent enforcement action FinCEN, the Financial Crimes Enforcement Network levied an $8 million fine on a California card club for violation of the Anti-Money Laundering provisions of the Bank Secrecy Act. (“BSA”). One of…more
 /  Finance & Banking, Science, Computers, & Technology, Taxation

Internet Gambling, Cryptocurrency and IRS Enforcement

Could Internet Gambling Sites be one of their targets? There are numerous on-line interactive casinos that accept cryptocurrency as a medium of funding player accounts. The use of cryptocurrency presents a new enforcement…more
 /  Art, Entertainment, & Sports Law, Criminal Law, Finance & Banking, Taxation

Investor Risks of Direct Foreign Investment in the U.S.

The Tax Cuts and Jobs ACT of 2017 (TCJA) may have made direct foreign investment in the U.S. more attractive for foreign investment. The reduction of the corporate tax rate, favorable tax treatment of pass-through entities and a…more
 /  Business Organizations, International Law & Trade, Securities Law, Taxation

A “Perry Mason” Moment

Perry Mason was a television drama about a criminal defense lawyer who somehow managed to get his clients acquitted through clever cross examination of the real criminal. His techniques often managed to get the witness to…more
 /  Criminal Law

Tax Evasion in the Age of Bitcoin

The 21st Century could well become known as the “Age of Anonymity”. Why, because of crypto-currencies. Crypto-currency uses blockchain technology which is a fancy way of saying without that without the password it is forever…more
 /  Business Organizations, Science, Computers, & Technology, Taxation

Here Are A Few Tax Planning Options for 2017

Congress passed and the president signed the Tax Cuts and Jobs Act, which is the biggest tax reform law in thirty years, one that will make fundamental changes in the way you, your family and your business calculate your federal…more
 /  Business Organizations, Taxation

Warning!!! Pre-paid State and Local Taxes are NOT DEDUCTIBLE in 2017 If they are due in 2018!

Assuming that the Tax Cuts and Jobs Act (“TCJA”) passes both Houses of Congress and is signed by the president, there will be monumental changes in the Internal Revenue Code on the individual and corporate tax levels…more
 /  Elections & Politics, Taxation

US prosecutors seek tenfold increase in offshore evasion sentences

A conviction for failure to report offshore financial account now carries a far greater risk of a lengthy prison term according to Mark Daly, senior litigation counsel at the U.S. Department of Justice. US prosecutors seek…more
 /  Business Organizations, Finance & Banking, International Law & Trade, 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
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