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TAXPAYERS MAY BE ENTITLED TO REFUND OR ABATEMENT OF PENALTIES AND INTEREST ASSESSED DURING COVID-19 PANDEMIC
On November 25, 2025, a Federal Court issued an Order which potentially impacted the manner by which federal tax deadlines imposed during the COVID‑19 emergency period should be interpreted and whether certain penalties and interest were properly assessed. In Kwong v. United States, 179 Fed. Cl. 382 (2025), the United States Court of Federal Claims interpreted the mandatory disaster-relief postponement provision in Section 7508A of the Internal Revenue Code enacted during the
C. Richard Wilkins
May 231 min read
FinCEN Removes Beneficial Ownership Reporting Requirements for U.S. Companies and U.S. Persons, Sets New Deadlines for Foreign Companies
WASHINGTON––Consistent with the U.S. Department of the Treasury’s March 2, 2025 announcement , the Financial Crimes Enforcement Network...
C. Richard Wilkins
Mar 22, 20251 min read
FinCEN Not Issuing Fines or Penalties in Connection with Beneficial Ownership Information Reporting Deadlines
On February 27, 2025 FinCEN issued an ANNOUNCEMENT that it will not issue any fines or penalties or take any other enforcement actions...
C. Richard Wilkins
Feb 28, 20251 min read
UPDATE: BENEFICIAL OWNERSHIP INFORMATION Reporting
On February 18, 2025, the U. S. District Court for the Eastern District of Texas lifted the stay on enforcement of the Beneficial...
C. Richard Wilkins
Feb 20, 20251 min read
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