Tax Controversies

Taxpayer Brings Constitutional Challenge to Purported Link Between Tax Debt and Passport Denial

On behalf of Frost Law posted in on April 16, 2020.

Mary F. Lundstedt, Esq., Associate In 1958, the Supreme Court affirmed that an individual’s right to travel internationally is a liberty right, unable to be abrogated without due process of law under the Fifth Amendment.[1]Additionally, in 1948, the United Nations recognized “[e]veryone has the right to leave any country, including his own, and to return […]

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Retirement & Taxes in 2020: Are You Prepared for the Changes?

On behalf of Frost Law posted in on April 16, 2020.

Recent legislation significantly impacts retirement savings. One notable change involves required minimum distributions (RMDs). This post discusses the change, how it impacts retirement savings, and how taxpayers can minimize potential penalties. What are RMDs? Retirement funds may not be kept in an account indefinitely. The RMD is the minimum amount a taxpayer is required to […]

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Can Tax Penalties Apply to the Dead? In Some Cases, Yes.

On behalf of Frost Law posted in on December 17, 2019.

Benjamin Franklin is credited with saying that only two things are certain in life, death and taxes. Unfortunately, in some cases, it appears that in addition to being two certainties in life, the relationship can extend beyond death. How can tax obligations extend beyond death? Two recent court cases provide an example. The cases involve […]

Tags: Blog, Tax Controversies


Can President Trump Change Residence for Tax Purposes?

On behalf of Frost Law posted in on November 6, 2019.

President Donald Trump recently stated in a Tweet that he was changing his residence to Florida. According to the tweet, the move was the result of poor treatment by politicians in New York even though he “pays millions of dollars in city, state and local taxes each year.” But will the move result in tax […]

Tags: Blog, Tax Controversies


Territorial Taxes: How will this Impact Multinational Businesses?

On behalf of Frost Law posted in on January 2, 2018.

President Donald Trump signed the GOP tax bill into law before the end of 2017. The bill changes a number of areas of tax law. This piece will discuss the shift to a more territorial system of taxation and how this will impact multinational businesses and international tax issues. How did the previous tax system […]

Tags: Blog, Tax Controversies


One Problem with Cryptocurrency Transactions: Property or Money?

On behalf of Frost Law posted in on December 7, 2017.

One of the key issues when it comes to taxation of cryptocurrency is its basic definition. Is cryptocurrency property or money? It may not seem like an important distinction, but the answer directly impacts the application of federal tax laws on this form of currency. What is the difference between property and money? The Internal […]

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Will American Expats Get a Tax Break in the Future?

On behalf of Frost Law posted in on October 30, 2017.

Proposed tax changes could benefit American expats. There is a strong push by expats to include language that would address the United States’ current tax system and how it handles expats. How do U.S. taxes work for expats? Currently, the system uses a citizenship based system as opposed to a residence based system. This results […]

Tags: Blog, Tax Controversies


IRS Continues to Focus on Cayman Islands for Tax Violations

On behalf of Frost Law posted in on October 27, 2017.

Offshore accounts continue to face scrutiny by the Internal Revenue Service (IRS). The federal agency examines these accounts to ensure the owner is in compliance with tax laws. A failure to do so can result in serious penalties, including fines and potential prison time for serious offenses. With these potential penalties, it may seem like […]

Tags: Blog, Tax Controversies


Reminder: Tax Filing Extension Deadline Oct. 16

On behalf of Frost Law posted in on October 10, 2017.

If you got an extension on your tax filings, the deadline is likely fast approaching. For many, the deadline for extended filings is set at October 16. Before submitting that filing, be sure to check to make sure that you are getting the most of available benefits. Three examples to check for include: Income. Depending […]

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Will the Supreme Court Hear a Battle Over the FATCA?

On behalf of Frost Law posted in on August 27, 2017.

The Foreign Account Tax Compliance Act (FATCA) has faced serious opposition. It was signed into law in 2010 by President Obama and is currently part of a lawsuit that alleges the law causes harm to a number of individuals. Who is bringing this lawsuit? The lawsuit, as noted in a recent piece in International Investment, […]

Tags: Blog, Tax Controversies