How FATCA and CRS Affect U.S. Investment

Hone Maxwell LLP would like to congratulate Partner Josh Maxwell on his recent article published in the international notes section of Tax Analysts, co-authored by Bill Ahern, a well-respected attorney from Hong Kong.  The article discusses the United States decision not to join CRS, a global FATCA type system, and instead to choose to continue […]


Both federal and California law provide relief for “innocent spouses” determined not to be responsible for taxes due on returns filed using a married filing status.  The majority of innocent spouse cases involve joint returns filed by taxpayers who were married at the time the return was filed. Where a joint return is filed, both […]

FATCA – What it Is, What it Isn’t, and What’s Next

Hone Maxwell LLP would like to congratulate Partner Josh Maxwell and Associate Attorney Aaron Li on their recent article publication in the Hong Kong based Asia Pacific Journal of Taxation.  The purpose of the article is to give taxpayers a more clear view of FATCA, the new tax environment, and options for taxpayers to become […]

Beware of Scams Impersonating the IRS

As tax season continues, taxpayers are going through the stress of organizing their tax documents, filing their tax return and paying their tax. In the midst of it all, scammers are taking advantage of the situation. The IRS has issued multiple warnings regarding these types of scams and to clarify their procedures. IRS Special Edition […]

Tax News –Passport Revocation for Seriously Delinquent Taxpayers

The federal government recently signed the Fixing America’s Surface Transportation Act (“FAST Act”) into law allowing the Secretary of State to deny, revoke or limit the United States passports of individuals with “seriously delinquent” tax debt. This legislation allows the IRS and Department of Treasury to notify the Secretary of State where any individual taxpayer […]

Equity Compensation Part 4 ‐ Restricted Stock Units

What They Are Restricted Stock Units (“RSU”s) are considered a hybrid of stock options and restricted stocks. RSUs are generally granted by an employer either at a specified point in the future, after a specified amount of time, or after required performance milestones are achieved. If the employee does not satisfy the vesting requirements, then […]


What It Is “Restricted stock” refers to shares of stock granted to an employee at a reduced or no cost, sometimes linked with a cash bonus to offset tax liability.  Restricted stock constitutes actual ownership but is subject to restrictions on transferability and substantial risk of forfeiture. The recipient’s rights in the shares are restricted until the shares vest, […]


Legislation passed in July 2015 made changes to the due dates for partnership tax returns, C corporation tax returns, FBARs, and other information tax returns. The modified due dates are for tax years beginning after December 31 2015 (except for C corporations with a fiscal year ending on a specific date, which is discussed below). […]

Equity Compensation Part 2 – Non-Qualified Stock Options

What They Are A non-qualified stock option (“NQSO”) is the right to purchase employer stock for a stated price for a specified period of time. NQSOs constitute actual ownership of shares and offer more flexibility than Incentive Stock Options (“ISO”) in terms of how they may be exercised and who may receive them. Unlike ISOs, […]