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Walk-Law Attorney Philip Wolf Selected to Write Annual 2023 Tax Wrap-Up Column for Prestigious International Publication, Tax Notes
Walk-Law Attorney Philip Wolf Selected to Write Annual 2023 Tax Wrap-Up Column for Prestigious International Publication, Tax Notes
This year, leading tax practitioner journal Tax Notes invited Walker-Law attorney Philip Wolf to write a capstone summary of annual federal tax developments for 2023. Philip wrote the summary in a less traditional form, as a quiz. The thirteen questions that he included dealt with a variety of tax topics in which Philip and Walker-Law have experience. These topics include the following:
- Criminal tax (Philip has extensive experience in internal and government investigations, forensic accounting and white-collar criminal defense).
- Syndicated conservation easements.[1]
- New developments in the crypto-tax space, including the taxation of staking rewards (another area that Philip has expertise in).[2]
- Employee Retention Credits (including the IRS’s new ERC voluntary disclosure program, which will close on March 23, 2024).[3]
- Substantiating certain charitable contributions (including failure to properly complete form 8283 and/or failure to receive a proper contemporaneous written acknowledgment).[4]
- International tax reporting obligations under the Bank Secrecy Act and penalties for failure to file FBARs.[5]
- The new FinCEN beneficial ownership information reporting requirements.[6]
- Tax litigation in the federal court.
For those who do not have a Tax Notes account, stay tuned. Walker-Law will be excited to share Philip’s entire article with readers next month once the exclusivity period expires.
[1] See e.g. 26 U.S.C. Section 170(h)(7).
[3] Announcement 2024-3, ERC Voluntary Disclosure Program FAQs, See also Steven Walker blog, “Employee Retention Credit — IRS Stops Processing New Claims — Fraud,” Law Offices of Steven L. Walker (Sept. 26, 2023), IR-2023-169.
[4] See 26 U.S.C. Section 170(f)(8).
[5] For more information, see, e.g., Bittner v. U.S., 143 S. Ct. 713 (2023).
[6] For more information, see e.g. blog, “Corporate Transparency Act – New Civil Penalties,” Law Offices of Steven L. Walker (Jan. 29, 2024).
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