Martin Hamilton

Nov 1, 2024 | mondaq.com | Richard Corn |Robert Friedman |Mitchell M Gaswirth |Martin Hamilton

The IRS has announced a new audit campaign targeted at the use of private aircraft, a/k/a "corporate jets". This has been an intensifying area of focus by the IRS over the last few years as a result of recently-increased tax benefits for private aircraft. Clients who use airplanes for business and have taken advantage of these tax benefits should be prepared for additional scrutiny of their tax returns.

Jan 8, 2024 | mondaq.com | Andrew Bettwy |Ryan Blaney |Richard Corn |Martin Hamilton

In 2021, the Corporate Transparency Act (the "CTA") was enacted into U.S. federal law as part of a multi‑national effort to rein in the use of entities to mask illegal activity. The CTA directs the U.S. Department of the Treasury's Financial Crimes Enforcement Network ("FinCEN") to propose rules requiring certain types of entities to file a report identifying each entity's beneficial owners as well as the natural persons who formed the entity, unless an exemption applies.

Dec 28, 2023 | lexblog.com | Martine Seiden Agatston |Richard Corn |Martin Hamilton |Amanda H Nussbaum

In 2021, the Corporate Transparency Act was enacted into U.S. federal law as part of a multinational effort to rein in the use of entities to mask illegal activity, including proposed rules (effective January 1, 2024) requiring certain types of entities to file a report identifying the entity’s beneficial owners as well as the natural persons who formed the entity unless an exemption applies.

Dec 28, 2023 | lexology.com | Andrew Bettwy |Ryan Blaney |Richard Corn |Martin Hamilton |Stephanie Heilborn |Jeffrey Horwitz | +5 more

In 2021, the Corporate Transparency Act (the “CTA”) was enacted into U.S. federal law as part of a multi‑national effort to rein in the use of entities to mask illegal activity. The CTA directs the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) to propose rules requiring certain types of entities to file a report identifying each entity’s beneficial owners as well as the natural persons who formed the entity, unless an exemption applies.