Eversheds Sutherland 11th Circuit Business Blog
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How Accountable Are You for Your Accountant’s Tax Fraud? The Eleventh Circuit Decides Not to Answer.

In Finnegan v. Commissioner, 2019 WL 2428109 (11th Cir. June 11, 2019), the Eleventh Circuit was asked to review whether a taxpayer may be indefinitely held responsible for the fraud of its paid tax return preparer. It is a question of special interest to small business owners that rely on an outside accountant to help with their taxes. Ultimately, the court chose not to answer the...

False Claims Act Statute of Limitations Extended

An extended limitations period—up to ten years, in some circumstances—is applicable to actions by private plaintiffs under the False Claims Act (FCA) even when the government declines to intervene, according to a recent Eleventh Circuit decision, United States ex rel. Hunt v. Cochise Consultancy, Inc., 2018 WL 1736788 (11th Cir. Apr. 11, 2018). In so holding, the court staked out a...

To Bar, or Not to Bar: That Is the Certified Question

How long after winning a judgment in the federal court can a Florida plaintiff conduct post-judgment collection efforts? That is the question at the heart of Salinas v. Ramsey, 2017 WL 1593469 (11th Cir. May 2, 2017). The issue has been decided differently in cases before the Florida District Courts of Appeal, and so Tuesday, the Eleventh Circuit certified a question to the Florida...

Supreme Court to Decide Circuit Split on Statute of Limitations for SEC Disgorgement Claims

This past Friday, the Supreme Court granted certiorari in Kokesh v. SEC, No. 16-529 (cert. granted Jan. 13, 2017), to review a circuit split on whether the SEC’s claims for disgorgement are limited to a five-year statute of limitations.  28 U.S.C. § 2462 places a five-year statute of limitations on any “action, suit or proceeding for the enforcement of any civil fine, penalty, or...

The Eleventh Circuit Delves into the “Murky” Waters Surrounding the U.S. Virgin Islands

For many years, the IRS has been aggressively auditing taxpayers who have filed income tax returns with the U.S. Virgin Islands (USVI) Bureau of Internal Revenue (VIBIR), claiming a 90% tax credit under the USVI Economic Development Program (EDP).  The IRS has long believed that individuals are falsely claiming to be “bona fide” USVI residents to obtain the tax credit, and the IRS...

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