Blogs > Lehigh Valley Legal Blog


Feb 02, 2018

Tax Season is Upon Us – Why having an attorney matters.

Milan D. Slak, a Member of Norris McLaughlin & Marcus, P.A., was the author for a Lehigh Valley Business exclusive article, “Benefits of Attorney-Client Relationship in Dealing with IRS,” discussing how the retention of a tax attorney at the outset of a contemplated transaction is imperative in order to obtain professional advice and preserve the confidentiality of communications and work product. » Read More

Dec 05, 2016

Eyewitness Report: IRS Public Hearing On Section 2704 Proposed Regulations

On December 1, the Internal Revenue Service held a public hearing to allow individuals to present oral testimony on the proposed regulations regarding “Estate, Gift and Generation-Skipping Transfer Taxes; Restrictions on Liquidation of an Interest (REG-163113-02)” that were released on August 2, 2016.  » Read More

Aug 29, 2011

IRS Offshore Voluntary Disclosure Initiative Extended Due to Hurricane Irene

The Internal Revenue Service continues to offer an Offshore Voluntary Disclosure Initiative (“OVDI”) for United States citizens and residents who are required to report their interests in foreign financial accounts.  On Friday, August 26, due to concerns regarding the potential impact of Hurricane Irene, the IRS announced that it will extend the due date for OVDI requests until September 9, 2011.  » Read More

Jun 14, 2011

Voluntary Disclosure of Foreign Accounts – Round 2

In 2009, the Internal Revenue Service allowed taxpayers to disclose their interests in foreign financial accounts and avoid potentially large civil and criminal penalties.  More than 15,000 taxpayers participated in the 2009 disclosure program.  Since that disclosure program ended on October 15, 2009, more than 3,000 additional taxpayers have voluntarily come forward to disclose interests in foreign financial accounts.  » Read More

Sep 30, 2010

Preserve Your Federal Tax-Exempt Status

As of July 2010, over 100,000 small nonprofit organizations were at risk of losing their Federal tax-exempt status for not having filed a tax return for 3 consecutive years.  Beginning with the 2007 tax year, most tax-exempt organizations with gross receipts of $25,000 or less were required to file Federal tax Form 990-N.  » Read More