On December 3, 2013, the United States Supreme Court decided U.S. v. Woods, the outcome of which may expand the scope of the valuation misstatement penalty, particularly in the case of deduction items reported by partnerships and S-corporations. The decisions may potentially subject owners of partnerships and S-Corporations to 40% penalties if they claim flow-through deductions in excess of their outside basis. Read more.
FATCA was enacted by Congress and signed into law in response to headlines describing wealthy Americans hiding assets in offshore financial institutions in order to avoid paying taxes on the income generated by those assets. But the clock is ticking for Property and Casualty insurance carriers, who must address FATCA compliance and reporting issues in 2014. Read more.
WeiserMazars is a Growth Champion for InterGrowth 2014. WeiserMazars partner Kevin Pianko will take part in the "Playing by the Rules" panel on April 29th, while principal Ira Gottlieb will take part in the Health Care Services and Health Care IT Companies Executive Roundtables on April 28th and a Health Care panel on April 29th. Read more.