Articles and News Items

MF Celebrates Opening Day
The partners decided to take a well-earned break and enjoy the festivities of opening day at National's Park. John & Patrick opening day The rain and cold weather didn't dampen our spirits as we soaked up the atmosphere of opening day.               Opening Day CeremonyAll the regalia was on display for this fun...
THE SHORT ARM OF THE LAW: LIMITS TO PERSONAL JURISDICTION
Multinationals that conduct business in the United States confront a real risk of being “haled” into our courts especially as state long-arm statutes extend courts’ reach to the full extent of the Due Process Clause of the U.S. Constitution.  Personal jurisdiction—the power of a court to hear a dispute and render a valid judgment that will be recognized by other courts—is a crucial procedural determination.
Investing in the Baltimore-Washington, DC Area

Opportunities

Companies from around the world continue to view the U.S. as a critical place in which to establish business operations. Firms interested in setting up operations in the United States should give close consideration to the Baltimore-Washington DC (“BWDC”) area.US Capital building, Washington DC, USA Highly Populated and Educated - The BWDC area is the fourth largest...
MessHall Lauchpad 2015 a great success!
Thanks to everyone who attended this years Launchpad contest at Union Market! contestant_area Montgomery Fazzone was excited to be sponsoring such a great event and enjoyed all of the wonderful vendors on display. Congratulations to Arepa Zone, winner of this years Launchpad 2015 contest and we look forward to working with you on your great company!   Congrat More No comments
Still have a foreign bank account? Tell the Tax Man Now!
Bank_StatementsIf your 2014 tax return—and maybe earlier returns—failed to disclose your foreign bank account to I.R.S., you now have another opportunity, on June 30, to compound the problem. A U.S. taxpayer with signatory authority over or an interest in a foreign financial account holding more than $10,000 at any time in the year must also...
Risky Business: Undisclosed Offshore Accounts
caution_aheadThe I.R.S. has introduced new Streamlined Filing Compliance Procedures (SFCP) for certain resident and nonresident taxpayers to report undisclosed foreign financial assets. The “look-back” period is three years. If a resident taxpayer qualifies, SFCP applies a 5% miscellaneous offshore penalty on the assets. If a non-resident qualifies, all penalties are waived. SFCP carries no other tax...
Companies seeking to maintain facility clearances with the U.S. government must exercise great care in structuring their operations. Active and close involvement by qualified legal counsel is essential.

John Montgomery routinely advises companies on issues in doing business with the U.S. government including in obtaining and maintaining facility clearances.

There is a lot of complementarity and empathy between U.S. and Australian businesses that can translate in meaningful alliances and the pursuit of joint opportunities in the fastest growing region of the world.

Patrick Fazzone advises and assists a number of companies doing business between the U.S. and the Asia Pacific region. In recent business briefings in Huntsville, Birmingham, and Mobile, he surveyed opportunities for collaboration between U.S. and Australian companies including on projects around the region.

You May Run, But You Can’t Hide: The Future of Bank Secrecy?
Since 2009, more than 45,000 U.S. taxpayers have voluntarily disclosed to the I.R.S. their previously hidden foreign bank accounts and agreed to pay over $6 billion in back taxes, interest, and penalties the U.S. Treasury. What prompted this outpouring of compliance? Not altruism, not patriotism, but fear. First, federal criminal investigations of several foreign banks in Switzerland, India, Israel, and elsewhere, yielded a treasure trove...
Voluntary Disclosure: A Limited Amnesty Regime
For six years, the I.R.S. has extended to taxpayers with undeclared foreign accounts an Offshore Voluntary Disclosure Program (OVDP). In brief, a taxpayer may apply for the program by ptax formsroviding an eight-year financial history that includes complete and accurate tax returns, payment of the additional tax, interest, and penalties, a statement of every undisclosed foreign account,...