How a Repatriation-Tax Challenge Before SCOTUS Could Upend the Tax Code

In 2005, Kathleen and Charles Moore invested $40k in exchange for 11 percent of equity in India-based, ag-equipment company KisanKraft. The Washington state couple received no income from its shares over the following decade, as the company operationally reinvested its profits. Nonetheless, in 2018 the U.S. government handed the Moores a $14,729 tax bill on the profits earned by the foreign entity. Reluctantly they paid but subsequently sued, questioning the constitutionality of taxing unrealized income without apportionment among the states.

UMD’s Justice for Fraud Victims to Host Business Fraud Prevention Seminar

Digital age-infused financial crimes against businesses are the focus of a free, single-day seminar forthcoming from Justice for Fraud Victims (JFV) at the University of Maryland’s Robert H. Smith School of Business in cooperation with the Prince George’s County Police Department’s Financial Crimes Unit. The seminar, Business Fraud Prevention, takes place 8:30 a.m.- 5 p.m. Friday, Nov. 3, 2023, at the College Park Marriott Hotel and Conference Center, 3501 University Blvd., E. Adelphi, Md.

‘Safe Harbor’ for Crypto Fraud Victims and its Relevance to the Celsius Case

The risk in crypto investing resurfaced prominently last month, related to former Celsius Network CEO Alex Mashinsky’s arrest on criminal and civil charges stemming from his activity with the now bankrupt cryptocurrency lending platform.

‘Unclaimed Refund’ and Other Scams: Insight from TerpTax and Justice for Fraud Victims

Every few months the Internal Revenue Service warns about fraudsters sending out emails (phishing) or text messages (smishing) from what are not IRS points of origin, but cleverly appear to be. The newest IRS advisory describes a scheme that Smith’s Samuel Handwerger says “is very clever, as it reverts to the old-fashioned method using ‘snail mail.’”

It’s All About the Experience

The Smith School has always known how important experiential learning is for students. These hands-on, immersive experiences and opportunities to solve real problems for real companies help them develop critical thinking skills, greater resilience, and an ability to lead the organizations of the future. Smith has offered this type of learning—both in the classroom and beyond—for years.

IRS and Crypto

As more than 20 percent of U.S. adults reportedly own cryptocurrency, revised wording on 2022 tax forms, signals that the IRS perceives “a lot of taxable transactions in cryptocurrency that are not being reported,” says Accounting Lecturer Samuel Handwerger, CPA, for the University of Maryland’s Robert H. Smith School of Business.

New Program Offers Justice for Fraud Victims

For victims of financial fraud, the path to restitution is time-consuming and costly. But a new initiative from the University of Maryland’s Robert H. Smith School of Business is on the case to help bring them justice.

Student Loan Forgiveness in Limbo: What Borrowers Should Know

With the proposed student debt relief program mired and stalled in legal battles, it’s now revealed that erroneous notices of student debt forgiveness application approvals were emailed to about 9 million Americans. At this point, says Smith’s Samuel Handwerger, “the Biden administration might be asking themselves ‘Is the road to hell really paved with good intentions?’”

A Tax-Day Lowdown from Smith’s Sam Handwerger

After two years of COVID-caused disruption, tax season this year ends after the traditional, April 15 statutory date – but with more extensions for some people, and they are not COVID-related. 

For Maryland Taxpayers, a Tough Ruling

“All income is taxable unless the tax code says it’s not; all expenses are not deductible from that income unless the tax code says they can be deducted.”

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