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Month: August 2015

RECENT CHANGE IN FBAR DUE DATE

RECENT CHANGE IN FBAR DUE DATE

Recent legislation will affect the due date for filing FinCEN Form 114. This is the annual form filed by folks with a financial interest in or signature authority over certain foreign financial accounts. Historically, the form has been due by June 30 following the end of the year in question. Under the new law, for returns for tax years beginning after December 31, 2015, the due date will be the following April 15, with a six month extension available.

Cellphone Location Information: Warrant Required?

Cellphone Location Information: Warrant Required?

Update: In May 2016, the Fourth Circuit reconsidered the United States v. Graham decision “en banc.” The entire court, rather than a three-judge panel, gave the circuit’s final word on the case. The judges decided that it was not a violation of the Fourth Amendment for the government to obtain CSLI without a warrant. They relied heavily on the argument that cellphone users don’t have a reasonable expecation of privacy in CSLI because those users “voluntarily convey” the information by using their phones. On Wednesday a…

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SOME IMPORTANT TAX PROVISIONS OF NEW HIGHWAY ACT

SOME IMPORTANT TAX PROVISIONS OF NEW HIGHWAY ACT

~Basis overstatement will hereafter be deemed the equivalent of omission of income for purposes of the 6 year statute of limitations. Thus, the Supreme Court decision to the contrary in Home Concrete & Supply LLC has now been superseded. ~Changes in filing deadlines for certain entities (effective for tax years beginning after December 31, 2015): # (Calendar year) partnership filing date changed to March 15 # (Calendar year) “C” corporation filing date changed to April 15