SALT & Pepper
The Unique Quandaries Faced in Recovering International Cryptocurrency Frauds
February 01, 2018
Authored by: Eric (Rick) Rein
In:
International Asset RecoveryCryptocurrency itself is a string of computer-generated code. For asset protection purposes, a cryptocurrency account currently functions similarly to offshore banking prior to the IRS’s crackdown of anonymous personal foreign accounts. At the moment, creditors face obstacles of identifying potential defendants and the international nature of the transaction.
Read MoreTo Deduct or Not Deduct: The Illinois Personal Service Income Conundrum
January 17, 2018
Authored by: David Hughes and Samantha Breslow
In: State & Local Tax (SALT)On December 11, 2017, the Illinois Department of Revenue (“Department”) issued proposed regulations that seek to clarify the scope of the deduction by setting forth specific rules and hypothetical examples. Nevertheless, even with the proposed regulations, the deduction is beset by ambiguities that will continue to create confusion for taxpayers currently under audit or who intend to claim the deduction in future years.
Read MoreReaching Trust Assets in the UK—It Can Be Done
January 16, 2018
Authored by: Eric (Rick) Rein
In:
International Asset RecoveryEnglish courts are developing ways to ensure that creditors are not thwarted by sophisticated and devious debtors using offshore structures that do not appear to be fictitious.
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