Hone Maxwell LLP Celebrates 10 Years!

10 boxes of Reserva de la Familia means 10 years for the firm.  After the first year, we got a bottle to celebrate, and it has become an amazing tradition. All of us at Hone Maxwell LLP are proud to have reached this important milestone: A decade of delivering tax and legal representation to individuals […]

Upcoming SCOTUS Case May Have Big Impact On FBAR Filers

Is the FBAR penalty per account or per form?  We may know soon. This fall, the Supreme Court is set to hear a case that could impact U.S. persons with financial accounts abroad. In the upcoming case of United States v. Bittner, arising out of the Fifth Circuit, the Supreme Court will hear and decide […]

Employee or Independent Contractor?

Are you a business owner struggling to classifying workers as employees or independent contractors? The determination can be difficult sometimes and the consequences can be quite severe if the wrong determination is made. As a quick summary, employees receive a W2 as the end of the year to report their income while independent contractors file […]

Penalty Relief on Multiple International Forms

The IRS announced in Notice 2022-36 that it will waive late-filing penalties for certain taxpayers who late-file returns for the 2019 and 2020 tax years. Eligible tax returns include individual, corporate, estates and trusts, and more. The waiver applies to the late filing penalty of 5% of your unpaid balance per month, capped at 25%. […]

With IRS Expansion, Now is the Time to Get in Compliance with International Reporting

The U.S. recently passed a significant piece of legislation called the Inflation Reduction Act. The legislation includes several tax changes. One significant change that has garnered a lot of attention is the allocation of $79.6 billion in funding for the IRS. Approximately $45.6 billion will be used for enforcement as the IRS cracks down on […]

Unique Taxation of Government Grants Given During the Pandemic

If you are self-employed and run a sole proprietorship that received government grants during the pandemic, you may be surprised at the taxation. Generally, government grants to businesses are considered as income which requires the business to report and pay tax on the amount received. Under the CARES Act, grants are no different. If a […]

Hone Maxwell Expansion to Tijuana Featured in Law360

Hone Maxwell LLP Managing Partner Josh Maxwell told Law360 that the firm is already a part of the Tijuana, Mexico community — so opening an office in the border city was the next logical step. “Many of our services will remain the same, including helping Americans with international tax planning and noncompliance issues,” Josh told […]

HMLLP Attorney Claudia Ignacio Honored with SDCBA 2022 Service by a New Lawyer Award

Hone Maxwell LLP Associate Attorney Claudia Ignacio was recognized by the San Diego County Bar Association with the 2022 Service by a New Lawyer Award. The award recognizes Claudia’s service to the legal profession, the community and to the SDCBA. In awarding the honor, SDCBA said Claudia shows a significant commitment to the legal profession […]

Big Changes at HMLLP: Tijuana Office Opens and a New Look for the Firm

When Hone Maxwell LLP launched 10 years ago, Aubrey Hone and I wanted to create an international tax and business law practice that prioritizes relationships. Forging strong partnerships with accounting firms in Mexico, frequent trips by firm principles to both Mexico and Asia and building a bilingual team that is knowledgeable in both the legal […]

Hone Maxwell LLP Saves Client Nearly $400K on Foreign Filings

Envelope of Money

Several years ago, I was at a restaurant in Mexico explaining the amnesty programs to a potential client over lunch. After a while, a woman at the table next to us got up and introduced herself. She politely apologized for interrupting but said that, after hearing me discuss the Offshore Voluntary Disclosure Program, she was […]