Frost & Associates, LLC

Are you interested in learning about practical concepts of estate planning?

Join Leanne Broyles, Esq. today at 6pm ET in week 3 of the Maryland State Bar Association – MSBA’s Estate Planning Evening Series.

Leanne will cover different types of trusts and how they can be used in your estate planning. MSBA members can sign up to watch the last 3 sessions live or purchase all 5 sessions on-demand.Are you interested in learning about practical concepts of estate planning?

Click here to learn more:

Estate Planning Evening Series The Estate Planning Evening Series is a comprehensive course presenting the fundamental and practical concepts of estate planning. Topics to be covered include: an overview of the planning process; tax structure and considerations; the use of trusts in estate planning; planning approaches to will an...

As we enjoy this well-deserved Labor Day break, we also want to remind you that tax season is just around the corner. Fall tax deadlines will be here before you know it!
If you have questions about your tax obligations or need assistance with tax planning, our team is here to help.

Strikes and taxes – the perfect combo!

Think you can beat our team’s high score? Win or lose our team enjoyed the opportunity to unwind and network outside of the office and between the lanes.

Thanks to everyone who came out!

Frost Law attorney Eric Lanning J.D., LL.M. was recently quoted in a Tax Notes article discussing the complex tax implications of "pig butchering" scams.

Eric highlighted how victims of these scams might still be able to claim theft loss deductions despite recent tax law changes. He emphasized the importance of proving a profit motive in these cases, which can often be established through careful documentation and communication records.

Read Eric's insights here: https://bit.ly/3YVX8t2

Frost Law Files ERC Refund Lawsuit on Behalf of Client

I was recently quoted by Law360 regarding a recent lawsuit filed by our office related to the Employee Retention Credit. Clients who have pending Employee Retention Credit claims that remain unprocessed after six months, have the ability to file a lawsuit in federal court to compel payment from the government. Congress intended that these credits be paid to eligible employers who were impacted by the pandemic and continued to keep employees on payroll.

The IRS has extended the ERC moratorium, which may bring questions for business owners still waiting for their claim.

Our latest video, featuring Partners Rebecca Sheppard, Esq. and Peter Haukebo, Esq., breaks down the details of the new updates for the Employee Retention Credit. Watch here: https://bit.ly/3AvtfWu

Learn how the IRS plans to handle claims based on different risk levels and what options you have to get the funds you deserve.

Did you receive an IRS disallowance letter for the Employee Retention Credit (ERC)? You can still take action!

Over 28,000 businesses have gotten these letters, but many of them have incorrectly denied claims.

In our recent video, we’re breaking down how you can file for an appeal and what timelines and factors you should consider. Watch it here: https://bit.ly/3YSJBCy

Frost Law is proud to share that 13 attorneys have been recognized by Best Lawyers as a “Best Lawyer” or “One to Watch” for 2025! Thank you to all of our peers and colleagues who have helped to recognize their hard work!

- Glen Frost, Esq. CPA - Best Lawyers: Tax Law
- Eli Noff, Esq. CPA - Best Lawyers: Tax Law
- Richard Berwanger, Jr., Esq. - Best Lawyers: Ethics and Professional Responsibility Law, Legal Malpractice Law - Defendants
- Kaitlyn Loughner, Esq. CPA - Ones to Watch: Business Organizations (including LLCs and Partnerships), Litigation and Controversy - Tax, Tax Law
- Peter Haukebo, Esq. - Ones to Watch: Litigation and Controversy - Tax
- Rebecca Sheppard, Esq. - Ones to Watch: Litigation and Controversy - Tax, Tax Law
- Nicholas Berger, Esq. - Ones to Watch: Litigation and Controversy - Tax, Tax Law
- Leanne Broyles, Esq. - Ones to Watch: Litigation and Controversy - Tax, Tax Law, Trusts and Estates
- Michael March, Esq. - Ones to Watch: Litigation and Controversy - Tax, Tax Law
- Lauren Mata, Esq. - Ones to Watch: Litigation and Controversy - Tax, Tax Law
- Amber Lyles, Esq. - Ones to Watch: Commercial Litigation, Litigation - Trusts and Estates
- Zoha Sohail, Esq. - Ones to Watch: Litigation and Controversy - Tax
- Robert Braland, Esq. - Ones to Watch: Tax Law

Moments after reopening the ERC Voluntary Disclosure Program, the IRS announced it was clawing back a billion dollars in errant ERC claims. The second round of the Voluntary Disclosure program is open until November 22, 2024, with a 15% discount on repayment amounts.

If you receive a notice clawing back a refund you have already received or you believe you may have claimed the ERC in error, contact a qualified tax professional to review your claims and determine the best next steps.

Read more here: https://bit.ly/4drbaqX

IRS Sending Up To 30,000 Letters To Address More Than $1 Billion Dollars In Errant ERC Claims & Opens A New Voluntary Disclosure Program The IRS has reopened its ERC Voluntary Disclosure Program! Correct past ERC claims, avoid penalties, and potentially keep 15% of the credit. Deadline: November 22, 2024.

In a recent article by The Wall Street Journal Frost Law Managing Partner Glen E. Frost provided a quote about how the moratorium has slowed both bad actors and eligible taxpayers from claiming the Employee Tax Credit.

However, now that the IRS has slowly continued to process new claims, the organization has struggled to separate the fraudulent claims from the legitimate ones. Read more about the IRS’s challenges throughout the duration of the ERC: https://on.wsj.com/3WUSGJB

Did you know the impact of inaccurate tax returns on divorce proceedings?

Michael March, attorney and director at Frost Law, shared his perspective on this topic at the recent Maryland State Bar Association - MSBA Legal Summit. He discussed strategies for uncovering financial discrepancies and protecting clients' interests in a divorce proceeding.

Read the full article in The Daily Record for legal insights with divorce and taxes:
https://bit.ly/3WdFg9Z

When a divorce collides with a faulty tax return – Maryland Family Law When a divorce collides with a faulty tax return By: Daily Record Staff Rachel Konieczny July 18, 2024 Michael March, attorney and director at Frost Law, presents an overview of divorces, alimony and marital separation agreements as they relate to tax law during a discussion earlier this month at th...

The IRS has extended the ERC moratorium, which may bring questions for business owners still waiting for their claim.

Our latest video, featuring Partners Rebecca Sheppard, Esq. and Peter Haukebo, Esq., breaks down the details of the new updates for the Employee Retention Credit. Watch here: https://bit.ly/45NU7wm

Learn how the IRS plans to handle claims based on different risk levels and what options you have to get the funds you deserve.

Bloomberg reports that the IRS is stepping up efforts to collect unpaid taxes, especially from high-income earners. Frost Law Partner Rebecca Sheppard, Esq., points out a trend where nonfilers who aren’t wealthy are also becoming compliant as the IRS strengthens its enforcement. Read the full article here: https://bit.ly/3VGl9Rz

Still waiting on a stalled ERC claim?

Our new video explores a potential solution for business owners facing financial strain due to the ongoing moratorium for the Employee Retention Credit. Watch our latest video to see if ERC refund claim litigation could be an option for you: https://bit.ly/3xyM9ug

Are you an accounting or tax professional seeking to enhance client services?

Join Frost Law Director, Nick Berger, Esq., and Associate, Josh Matthews, Esq., for two immersive presentations at the Business Builders Connections Conference on Friday, June 14th. Sign up here: https://bit.ly/45hRPp9

Kicking off the day, from 8 AM to 8:50 AM, delve into the complexities of Navigating the Corporate Transparency Act. Gain invaluable insights into beneficial ownership reporting and discover strategies to ensure your clients remain compliant in an evolving regulatory landscape.

Then, from 10 AM to 10:50 AM, immerse yourself in the second session, From IRS Debt to Peace of Mind. Explore innovative strategies crafted to empower your clients in resolving tax troubles and embarking on a journey toward financial freedom.

Don't miss this exclusive opportunity to hear from industry-leading speakers, network with fellow professionals, and equip yourself with the knowledge and tools necessary to take your firm to new heights. Secure your spot now: https://bit.ly/45hRPp9

Are you still waiting for your ERC refund? Contact our firm to help evaluate whether filing a lawsuit or requesting help from the Taxpayer Advocate Service (“TAS”) makes sense for your particular fact pattern.

TAS advocates for taxpayers like you. Our article discusses how TAS matt be able to expedite your ERC refund claim. Read more details in our article here: https://bit.ly/4buJlx1

Have your ERC documentation ready!

The IRS has been issuing Letters 6612 to some businesses with pending ERC refund claims. Once received, employers have only 30 days to respond with documentation substantiating the claim. A lack of response will result in the disallowance of the refund claim in its entirety.

Our article details what documentation you should prepare now in anticipation of receiving Letter 6612. Read more here: https://bit.ly/3wEuQHS

We are proud to share that Frost Law attorneys have been named Leading Lawyers in 2024!

Congratulations to our Managing Partner Glen Frost, Esq., CPA, Partners Rebecca Sheppard, Esq., Peter Haukebo, Esq., and Richard Berwanger, Jr., Esq., and Directors Leanne Broyles, Esq., and Daniel A. Staeven, Esq. for all being recognized as Leading Lawyers for 2024. Their work across a variety of fields, including bankruptcy, trust and estate, tax law, and litigation, highlights the breadth of our firm’s talent.

Thank you to all of our peers and colleagues for helping to recognize their hard work. Cheers to another bright year ahead of us!

Read the full magazine here: https://bit.ly/3V2qTX0

’sUpMag

If you are among the many businesses waiting to receive an ERC refund from the IRS, our article explores two ways you may be able to get your claim processed.

Businesses that are facing financial hardship or have not heard from the IRS in over 6 months may be able to use these methods. Discover how using the Taxpayer Advocate Service or filing a lawsuit can help expedite they payment of the ERC refunds.

Read more details in our article: https://bit.ly/4aZVt8V

The IRS is cracking down on high-income earners, estimating that over $100 billion has gone unreported in recent years. The Service is issuing Notices CP59 to request the missing tax returns.

Read our article to learn more about who is being targeted and what what steps a noncompliant taxpayer should take: https://bit.ly/4a01Wj4

The Supreme Court case Moore v. US could impact how overseas profits are taxed. The central point is whether the MRT (mandatory transition taxes) is constitutional.

Experts say that the MRT follows a long line of jurisprudence that taxes foreign source income while the Moores claimed that the MRT was a taxation on unrealized income and should be declared unconstitutional.

Read more details about the case and its impact here: https://bit.ly/3Qi8l2b

The IRS released a Generic Legal Advice Memorandum concerning third-party payers that assisted their customers with filing ERC refund claims. In short, professional employer organizations can be held liable for the improperly claimed ERC. In some cases, the PEOs and CPEOs may be found solely liable instead of sharing liability with the client.

Learn more details about the IRS’s notice in our article: https://bit.ly/3U5SYLj

Need help navigating Puerto Rico's complex tax laws?

Hear from International Tax Professional, Peter Palsen as he simplifies the process, helping you determine if self-filing your Puerto Rico tax returns is right for you. He'll cover income sources, double taxation, and how Act 60 incentives might affect your filing.

Watch now: https://bit.ly/3UgOYZD

Navigating the Corporate Transparency Act can be complex. Our latest video offers a clear breakdown of CTA requirements, deadlines, and exemptions. Get informed and avoid compliance issues.

Learn more before the upcoming deadline for some businesses: https://bit.ly/3xzwTgs

We are grateful to the Anne Arundel Bar Association (AABA) for the opportunity to have Frost Law Partners, Richard J. Berwanger, Jr., Esq. and Peter Haukebo, Esq., and Associate, Robert Braland, Esq., present at Bar Weekend 2024.

Director, Dan Staeven, Esq., and Associate, Josh Matthews, Esq., also joined for an enriching weekend of legal education and networking.

Watch our latest video outlining strategies like initiating refund claim litigation, utilizing the Taxpayer Advocate Service, and more. Learn how you might be able to speed up your claim process. https://bit.ly/3VNuh8Y

Frost Law extends its congratulations to Director Leanne Broyles, Esq., who has been selected by the Daily Record as one of Maryland’s Estate and Trust Law Power Players in 2024.

Leanne’s experience and dedication to her clients enable her to be an asset to our firm and the legal community.

Thank you to everyone who was able to attend our Corporate Transparency Act webinar with the Maryland State Bar Association (MSBA) last Tuesday!

Rebecca Sheppard and Peter Haukebo had a great time discussing the various reporting requirements with local professionals. If you’re interested in learning more about the CTA and reporting you can check out our website here: https://bit.ly/3T9IQAw

Organizing an S Corp LLC? Your operating agreement matters! Streamline it for S Corp benefits while avoiding tax traps. Check the agreement to ensure that member rules, transfer restrictions, and profit/loss language align with S Corp regulations. Secure S Corp status and member compliance with clear, comprehensive agreements. Read more here: https://bit.ly/3w39ALa