Holtz, Slavett & Drabkin

Rescheduling Ma*****na from Schedule I to Schedule II: No More I.R.C. § 280E, More Tax Deductions, and Potential Refunds to Cannabis Businesses? Cannabis businesses that cultivate, distribute, or sell ma*****na have long been subject to I.R.C. § 280E.  Section 280E states that no deduction or credit is allowed for a business that “consists of trafficking in controlled substances (within the meaning of schedule I and II of the Controlled

IRS to Increase Number of Audits, Focus on Wealthy Taxpayers and Large Businesses On May 2, 2024, the IRS released its Strategic Operating Plan, setting forth its priorities and future goals. The plan focuses on five key objectives: Objective 1. Dramatically improve services to help taxpayers meet their obligations and receive the tax incentives for which they are eligible.

Igor Drabkin to Speak at Strafford Webinar on FATCA We are pleased to announce that Igor Drabkin will be speaking at the upcoming Strafford Publications webinar "FATCA Reporting: Filing Form 8938 for Taxpayers With Foreign Assets, Integrating Latest IRS Guidance" on Monday, March 11, 2024.The Foreign Account Tax Compliance Act (FATCA) continues t

BENEFICIAL OWNERSHIP INFORMATION REPORTING New Federal Reporting Requirement for Beneficial Ownership Information (BOI)Beginning on January 1, 2024, the Corporate Transparency Act went into effect, requiring many companies in the United States to report information about their beneficial owners, i.e., the individuals who ultimately own o

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Igor Drabkin Presents Webinar on IRS Appeals Officer We are pleased to announce that on December 14, 2023, Igor Drabkin will be speaking at a Strafford Publications webinar entitled "Navigating the IRS Independent Office of Appeals: Achieving Favorable Settlements, Avoiding Litigation".This course will provide tax advisers and professionals with a

IRS Announces Special Program for Withdrawal of Ineligible Employee Retention Credits (ERC) Today, in an attempt to further deal with the Employee Retention Credit (ERC) refund scams, the IRS announced a new process for withdrawal of inappropriate ERC claims.This new withdrawal option allows certain employers that filed an ERC claim but have not yet received a refund to withdraw their

Tax Filing Relief for Victims of Terrorist Attacks in Israel The Internal Revenue Service announced, in Notice 2023-71, that certain taxpayers affected by the terrorist attacks in Israel on October 7, 2023, will qualify for postponement of various tax filing and payment deadlines. The affected taxpayers, both individual and businesses, will have until October

IRS Extends Deadlines for California Residents to November 16 Today, October 16, 2023, the IRS issued an announcement, further postponing tax deadlines for most California taxpayers to November 16, 2023. Because of the last winter's natural disasters, the normal April 15 due dates had previously been postponed to October 16. As a result, most individuals and b

Igor Drabkin & David Warner Analyze Recent FBAR Developments in Webinar Tax Attorneys and Shareholders Igor S. Drabkin and David J. Warner will be speaking in an upcoming Strafford live webinar, "FBAR 2023 Update: Filing Requirements, Recent Cases, Deadlines, Extension, Penalty Resolution, and Waiver Provisions" on Wednesday, November 1, 2023, from 10:00 am to 11:30 am

Former IRS Attorney Kevin Oveisi Joins Holtz, Slavett & Drabkin Holtz, Slavett & Drabkin, APLC, is pleased to announce that former IRS attorney Kevin Oveisi has joined the firm as a tax attorney.  Kevin brings to Holtz, Slavett & Drabkin invaluable experience as a senior trial attorney for the IRS Office of Chief Counsel in both its Laguna Niguel, Calif

IRS announces that Revenue Officers (agents for the IRS Collection Division) will no longer make unannounced visits to taxpayers.

IRS to Stop Most Unannounced Taxpayer Visits by Revenue Officers IRS revenue officers will no longer make unannounced visits to taxpayers about their unpaid taxes and unfiled tax returns, ending a decades-long practice, the agency announced Monday.

IRS Enforcement Focuses on High Income Taxpayers, Puerto Rico Scheme and Malta Pension Arrangements On July 14, 2023, the IRS issued a release, IR-2023-126, discussing the agency’s improvements in taxpayer service and modernization efforts. From the compliance enforcement standpoint, the IRS announced that it will continue to focus on high income, high net worth taxpayers in its efforts to crack

David J. Warner and Igor S. Drabkin Analyze IRS Eggshell Audits with Potential Criminal Issues in Strafford Webinar Holtz, Slavett & Drabkin tax attorneys, principals, and shareholders Igor S. Drabkin and David J. Warner will be co-presenting a Strafford webinar for CPAs entitled "IRS Criminal Examinations: Handling Eggshell Audits, Identifying Criminal Issues, Responding to IRS Summonses" on Monday, Janu

Igor S. Drabkin and David J. Warner Analyze IRS Penalty Abatement in Upcoming Webinar Holtz, Slavett & Drabkin tax attorneys, principals, and shareholders Igor S. Drabkin and David J. Warner will be co-presenting a Strafford webinar entitled “Complex IRS Penalty Abatement Procedures for Failure-to-File, Failure-to-Pay” on Thursday, November 3, 2022, at 10:00 a.m. Pacific time

Richard Gano Shares Insights for Bloomberg Tax on Special IRS Penalty Relief Richard Gano recently published an article for Bloomberg Tax entitled “Taxpayers Must Act Quickly on Relief for Late Filing Penalties.”  In this article, Richard analyzes IRS Notice 2022-36, in which the IRS provides relief to most people and businesses who file certain 2019 or 2020 returns lat

Holtz, Slavett & Drabkin to Sponsor 38th UCLA Tax Controversy Institute, Igor Drabkin to Speak on IRS Collections Holtz, Slavett & Drabkin to Sponsor 38th UCLA Tax Controversy Institute, Igor Drabkin to Speak on IRS Collections

Non-Payment of Payroll Taxes Can Lead to Serious Legal Problems Civil and criminal employment tax enforcement is one of the top priorities for the IRS and the Department of Justice.

Tax Issues in the Cannabis Industry The IRS has made tax enforcement in the cannabis industry one of its top priorities.

Michele Weiss to Participate in April 1 Panel on the Taxation of NFT’s as part of the Beverly Hills Bar Association NFT Week On April 1, 2022, Michele Weiss will moderate a Beverly Hills Bar Association program on "Tax Implications of Acquiring, Holding or Selling NFTs".The recent explosion of the creation and sale of NFTs has brought about significant concernsregarding the taxation of these transactions for sellers

Buying Cryptocurrencies? The IRS is Very Interested in Your Taxes The Internal Revenue Service (IRS) has had an interest in virtual currencies, including cryptocurrencies like Bitcoin, for several years. The IRS is looking closely at these transactions.

Four HS&D Attorneys Named 2022 Super Lawyers Four HS&D Attorneys Named 2022 Super Lawyers

David J. Warner Promoted to Principal and Shareholder of Holtz, Slavett & Drabkin Holtz, Slavett & Drabkin, APLC, is pleased to announce that David J. Warner has become a Principal and Shareholder of the firm.David J. Warner is a tax attorney and the managing principal of the firm’s Orange County office.  David has over 13 years of experience practicing in all aspects

Holtz, Slavett & Drabkin now takes appointments on their Page.

Igor Drabkin to Speak at Tax Compliance Issues for Lawyers Webinar Igor Drabkin will be be presenting at the upcoming California Lawyers Association webinar on "Tax Compliance Issues for Lawyers". The webinar is presented by the Solo and Small Firm Section of the California Lawyers Association.

Happy Thanksgiving to all our clients, colleagues and friends!

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Holtz, Slavett & Drabkin, APLC to Sponsor the 2021 National Institute on Criminal Tax Fraud Holtz, Slavett & Drabkin is proud to sponsor the 38th Annual National Institute on Criminal Tax Fraud, which will take place in person on December 8-10, 2021, at the Four Seasons Hotel in Las Vegas, Nevada.This program brings together high-level government representatives, judges, co

37th Annual UCLA Extension Tax Controversy Institute Tackles Post-COVID IRS Examination, FBAR, and Virtual Currency LOS ANGELES, October 19, 2021--The UCLA Extension Tax Controversy Institute on Oct. 21 brings together nation's top attorneys, accountants and others to review latest trends.

Igor Drabkin Quoted in Law360 Article on Tax Court Trials Igor Drabkin was quoted in the September 17, 2021, article published by Law360, "Return to In-Person Tax Court Trials Adds Wrinkles for Attorneys". The articles focuses on the challenges and strategies for taxpayers and tax practitioners, as the Tax Court is returning to in-person trials.  On Augus

Holtz, Slavett & Drabkin invites you to register for a Strafford live webinar. FATCA Reporting: Filing Form 8938 Igor Drabkin to Speak at FATCA Webinar