What's New
July 01, 2019
A New Chapter: Firm Name Change
Mopsick Tax Law, LLP is pleased to announce our next chapter as a law firm. Effective July 1, 2019, the firm will be named Mopsick Carrere, LLP.
Steven Mopsick and Ryan Carrere have over 60 years of combined experience in tax controversy and other tax-related matters. Steven has 30 years of IRS experience in Washington, D.C., and as the IRS District Counsel in Sacramento, and 17 years in private federal tax law practice. Ryan's 14 years of practice has focused primarily on federal and California tax matters, but he has also worked in other areas including business formation/dissolution, and business transactions.
The firm's name change recognizes Ryan's significant contributions to the firm.
Thanks to our many clients, colleagues, friends, and family for their continuous support. We look forward to the future as Mopsick Carrere, LLP.
August 02, 2013
FATCA: ‘Simple Premise’ Gone Terribly Wrong
We are happy to repost an article by Lynne Swanson whose blog is The Maple Sandbox and Victoria Ferauge who publishes the blog, The Franco-American Flophouse. Their article, “FATCA: Simple Premise Gone Terribly Wrong” originally appeared in The Hill’s Congress Blog on July 28, 2013.
January 03, 2012
FATCA and Foreign Bank Accounts: Has the U.S. Overreached?
For the last three years, the U.S. government has mounted aggressive enforcement efforts against American taxpayers who have undeclared funds in foreign accounts, as well as the banks, bankers, financial and legal advisers, and even family members who may have assisted the taxpayers or facilitated their concealment of assets from the tax collector.
December 05, 2011
FATCA is a Nightmare for Fund Managers
“CATCHING tax cheats is well and good in theory. Achieving that feat in practice is another matter. As fund managers are finding, the latest effort from the American authorities to root out those of their citizens who have been hiding their assets overseas is creating a bureaucratic nightmare around the world.” The Economist.
November 29, 2011
Not All Countries Welcome Implementation of FATCA by the United States
Our friendly neighbors to the north have taken issue the aggressive approach to collect information about U.S. taxpayers with foreign accounts. Canada’s Federal Minister of Finance recently expressed his concern in a letter that FATCA will result in Canadian financial institutions becoming an extension of the IRS. He also raised concerns about privacy rights and heavy-handed penalties.
October 27, 2011
Foreign Account Tax Compliance Act and IRS Reporting Requirement Get More Complex; Form 8938 Expands The Concept of Disclosure Beyond Foreign Bank Accounts
The Foreign Account Tax Compliance Act added section 6038(D) to the Internal Revenue Code. The new section requires taxpayers with financial assets exceeding a certain dollar amount held outside the United States to report those assets to the IRS. The IRS has made a draft Form 8938 and instructions available.