The arrival of tax season may be a stressful time for many business owners and individual filers. IRS criminal investigators continue to aggressively pursue tax evaders, and IRS efforts have increased with additional manpower and funding. These agents have particularly been focusing, in recent months, on investigations regarding tax evasion, cryptocurrency under-reporting, tax return preparer liability, and COVID-19/ERC fraud. Tax-related crimes take form in a variety of ways. These include: Underreporting income; Submitting false documents; Failing to pay tax liability or file tax returns; Refusing to properly account for cryptocurrency and other financial gains; Failing to accurately prepare tax returns [...]
White collar investigations necessarily impact many different people. Federal and state white collar authorities use three different labels to categorize the individuals and companies they interact with: target, subject, and witness. The Department of Justice’s policy is to inform individuals where they fall on the spectrum—target, subject, or witness. The differences are incredibly important. On one side of the spectrum is a target. An example of a target is the executive who orchestrated financial fraud, or the suspect who pulled the trigger. If you are a target, that means the government believes there is substantial evidence that you have committed [...]
Matthew P. Massey was a featured legal commenter in The New York Times’ ongoing coverage of the Sam Bankman-Fried trial in article published on October 9, 2023. He analyzed Mr. Bankman-Fried’s strategy of advancing an advice of counsel defense and addressed some of the challenges with such a strategy. Click on the button below to read the article on the Times’ “DealBook” section. Read Article Matthew P. Massey is a Partner in the White Collar, Government Investigations, and Special Matters Group. He is a former Assistant U.S. Attorney with the U.S. Attorney’s Office for the District of [...]
The “advice of counsel” defense can be an effective legal defense when used properly in white collar criminal cases. This defense will likely be used in the case of United States v. Bankman-Fried, 1:22-cr-00673, which is set for trial in the United States District Court for the Southern District of New York. This trial relates to the failed FTX cryptocurrency exchange and cryptocurrency hedge fund and its allegedly fraudulent relationship with Alameda Research. The “advice of counsel” defense is often used in high-profile cases such as the upcoming Bankman-Fried trial because, when used right, the defense team can use it [...]
August 16, 2023, will mark the one-year anniversary of the enactment of the Inflation Reduction Act (“IRA”) (Public Law 117-169). Although there has been, and continues to be, spirited debate around the policies embodied in the IRA, one thing is not debatable; the IRA --dubbed by some as the “Green New Deal”-- is among the most significant pieces of climate and renewable energy legislation is United States history. This may come as a surprise to some, considering the title of the law makes no reference to “climate,” “renewable energy,” or the like. The IRA addresses many topics completely unrelated to [...]
Beggs & Lane, R.L.L.P. is pleased to announce that Steve Griffin and Ed Holland have both been awarded top rankings in the 2023 edition of Chambers USA for their expertise in the areas of Energy and Natural Resources law. Published annually, the Chambers USA guide identifies the nation’s top law firms and attorneys through rigorous research and in-depth client interviews. Rankings are assessed on legal knowledge, experience, ability, effectiveness and client service, in addition to the strength and depth of a firm’s practice.