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	<title>SmolenPlevy</title>
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	<link>http://smolenplevy.com</link>
	<description>Attorneys Lawyers Maryland Virginia Washington DC Divorce Estate Planning Business</description>
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		<title>Kathryn Dickerson Featured in USA Today</title>
		<link>http://smolenplevy.com/archives/3921</link>
		<comments>http://smolenplevy.com/archives/3921#comments</comments>
		<pubDate>Fri, 17 Feb 2012 17:04:54 +0000</pubDate>
		<dc:creator>SmolenPlevy</dc:creator>
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		<title>An Increase in the Presence of Children in the Courtroom</title>
		<link>http://smolenplevy.com/archives/3904</link>
		<comments>http://smolenplevy.com/archives/3904#comments</comments>
		<pubDate>Wed, 15 Feb 2012 18:32:22 +0000</pubDate>
		<dc:creator>SmolenPlevy</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

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		<description><![CDATA[An Increase in the Presence of Children in the Courtroom  UC Davis Journal of Juvenile Law &#38; Policy. Kyung (Kathryn) Dickerson, Esquire, a family law practitioner in the Washington, D.C. metro area with the law firm of SmolenPlevy, explores the emergence of online communities for youth and how courts are currently struggling with issues arising from same, including cyber bullying and presenting evidence in court from online accounts. &#160; &#160;]]></description>
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		<title>Does the IRS Have Its Mitts on Romney&#8217;s Foreign Accounts?</title>
		<link>http://smolenplevy.com/archives/3899</link>
		<comments>http://smolenplevy.com/archives/3899#comments</comments>
		<pubDate>Tue, 14 Feb 2012 15:27:46 +0000</pubDate>
		<dc:creator>SmolenPlevy</dc:creator>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[Cayman Islands]]></category>
		<category><![CDATA[Federal banking]]></category>
		<category><![CDATA[Forbes]]></category>
		<category><![CDATA[Foreign Accounts]]></category>
		<category><![CDATA[IRS]]></category>
		<category><![CDATA[Matt Campione]]></category>
		<category><![CDATA[Mitt Romney]]></category>
		<category><![CDATA[smolenplevy]]></category>
		<category><![CDATA[tax laws]]></category>

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		<description><![CDATA[Last week I wrote about the latest IRS program that encourages US citizens and residents to come clean and voluntarily disclose foreign account information. This week we heard that presidential candidate Mitt Romney has foreign accounts in the Cayman Islands and possibly other foreign countries. We also heard that Mr. Romney will release personal tax information as early as the next few days. I understand the misconception that, somehow, off-shore corporate profits and foreign accounts are un-American and perhaps illegal. However, foreign accounts are more and more related to the global economy and most of these accounts are legal if properly accounted for and disclosed. By contrast, if Mr. Romney failed to make the required disclosures or report his foreign account income, this would probably end his run for the presidency. Certainly this would be much worse than the career-stalling failures of politicians and officials in the past, such as failing to properly account for and pay taxes on income paid to a maid or nanny. I suspect that the information Mitt Romney is expected to disclose will show that he is in full compliance with federal tax and banking laws. Although the “spin” may be that somehow Mr. Romney <a href="http://smolenplevy.com/archives/3899#more-3899'" class="more-link">more »</a>]]></description>
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		<title>Good deal? Latest IRS Crackdown on Undisclosed Foreign Accounts</title>
		<link>http://smolenplevy.com/archives/3894</link>
		<comments>http://smolenplevy.com/archives/3894#comments</comments>
		<pubDate>Fri, 03 Feb 2012 15:23:47 +0000</pubDate>
		<dc:creator>SmolenPlevy</dc:creator>
				<category><![CDATA[Blog]]></category>

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		<description><![CDATA[Federal banking and tax law requires people to disclose foreign accounts they own or have signature authority over. Because United States citizens and residents are taxed on worldwide income they must also report the income derived from these accounts. For various reasons, many people have not provided the necessary account information and have not reported the income. The IRS recently announced its third program whereby people can voluntarily report previously undisclosed foreign account information and pay tax on foreign account income. I suspect the IRS is hoping the level of participation will turn into a stampede based on its success with the two previous programs and the increased reporting of account/asset information by foreign financial institutions. Over $4.4 billion has already been collected under the previous programs. Under the new program, a penalty as high as 27.5% of the highest aggregate foreign account/asset value during the eight full tax years prior to disclosure may be assessed. In limited situations the penalty may be as low as 12.5% or 5%.  In addition, participants will be required to file or amend tax returns for up to eight years and pay income tax, interest and certain tax penalties related to the previously unreported <a href="http://smolenplevy.com/archives/3894#more-3894'" class="more-link">more »</a>]]></description>
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		<title>A Well-Executed Succession Plan is Essential &#8211; Just Ask Apple.</title>
		<link>http://smolenplevy.com/archives/3873</link>
		<comments>http://smolenplevy.com/archives/3873#comments</comments>
		<pubDate>Tue, 31 Jan 2012 16:04:03 +0000</pubDate>
		<dc:creator>SmolenPlevy</dc:creator>
				<category><![CDATA[Blog]]></category>

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		<description><![CDATA[Apple just released financial results for the quarter and posted record-setting numbers. The company’s quarterly net profit of $13.1 billion is twice the six billion dollars recorded the previous year. Much of the quarter’s gains come from the sales of the latest 4S iPhone, which sold more than 37 million units. The gains eliminate any concerns about Tim Cook as Apple’s new CEO.  Last summer, an ailing Steve Jobs named Cook as his long-awaited successor. The move was part of a thoughtful, well-executed succession plan and the results show benefits of having such a plan whether the business is the size of Apple, or a closely owned family business.  A succession plan is essential to the continued success of a business.  Watch as SmolenPlevy’s Jason Smolen discusses the importance of business succession plans on ABC7’s Washington Business Report. Jason Smolen on ABC7&#8242;s Weekly Business Report: &#160; &#160;]]></description>
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		<title>Matt Campione on NBC Nightly News with Brian Williams</title>
		<link>http://smolenplevy.com/archives/3846</link>
		<comments>http://smolenplevy.com/archives/3846#comments</comments>
		<pubDate>Wed, 25 Jan 2012 18:49:20 +0000</pubDate>
		<dc:creator>SmolenPlevy</dc:creator>
				<category><![CDATA[Estate Planning]]></category>

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		<description><![CDATA[SmolenPlevy’s Matt Campione appears on NBC Nightly News with Brian Williams. On the program, Campione, a respected tax attorney and principal with the firm, evaluates Republican presidential candidate Mitt Romney’s just-released tax returns for 2010 and 2011. Campione’s assessment : “When you’re at this wealth level, you get much more in the way of capital gains and qualified dividends and other preferential income.” Watch NBC’s Andrea Mitchell report here: Prior to joining the firm, Campione was employed by the Internal Revenue Service, where he developed an expertise in complex tax regulation and enforcement issues as they pertain to individuals and businesses. Campione is also a regular contributor to Forbes.com, where he writes about current tax and US budget issues.]]></description>
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		<title>Federal Estate Tax Still Headed in the Wrong Direction</title>
		<link>http://smolenplevy.com/archives/3834</link>
		<comments>http://smolenplevy.com/archives/3834#comments</comments>
		<pubDate>Tue, 24 Jan 2012 18:20:12 +0000</pubDate>
		<dc:creator>SmolenPlevy</dc:creator>
				<category><![CDATA[Blog]]></category>

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		<description><![CDATA[Unless the law is changed, federal estate tax liability is set to substantially increase in 2013. This will be a continuation of estate tax liability being substantially affected based solely on the year a person dies. What is the logic in this outcome? For persons who die in 2013, 2013 estates in excess of $1 million may be subject to federal estate tax liability. In contrast, 2010 estates were allowed to elect out of the federal estate tax. Many very large estates did elect out with billions of dollars of value going untaxed. Non &#8211; electing 2010 estates and 2011 estates at or below $5 million were generally not subject to federal estate tax and 2012 estates at or below $5.12 million will generally not be subject to federal estate tax. Another major difference is the estate tax rates. For 2010-2012 the maximum estate tax rate is 35%. The maximum tax rate for 2013 will be 55% starting at taxable estates over $3 million (60% for taxable estates between $10 million and 17 million due to a surtax of 5%). With potential differences in estate tax liability in the millions of dollars, we will again face the morbid issue of <a href="http://smolenplevy.com/archives/3834#more-3834'" class="more-link">more »</a>]]></description>
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		<title>NOTICE: Your Credit Limit is About to Increase $1.2 Trillion Dollars, Effective February 2012</title>
		<link>http://smolenplevy.com/archives/3829</link>
		<comments>http://smolenplevy.com/archives/3829#comments</comments>
		<pubDate>Tue, 17 Jan 2012 17:46:05 +0000</pubDate>
		<dc:creator>SmolenPlevy</dc:creator>
				<category><![CDATA[Blog]]></category>

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		<description><![CDATA[Probably by the end of the week President Obama will institute an increase of the federal debt ceiling by $1.2 trillion to over $16.2 trillion dollars. Although the increase is subject to Congressional disapproval, expect little more than political posturing from Capital Hill. This increase should carry the US through 2012 before another increase will be needed to fund projected government expenses. Because of the Presidential and Congressional elections in November, expect the employee Social Security payroll tax cut (from 6.2% to 4.2%) for all of 2012 to pass, with some of its cost funded by the debt increase. Otherwise, the big fireworks should be for 2013 when the Bush tax cuts are scheduled to expire and the debt ceiling must be raised again. While spending can also be cut it is difficult to envision eliminating another trillion dollars of spending in lieu of any increases in revenue and borrowing. Is it a V, L or U recession? So far the federal government has attacked this recession with lower taxes, additional borrowing and quantitative easing and low interest rates via the Federal Reserve. Much of this has been done to avoid a much deeper downward lurch in our GDP. But the economy is <a href="http://smolenplevy.com/archives/3829#more-3829'" class="more-link">more »</a>]]></description>
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		<title>Another Celebrity Divorce Indicates the Need for a Prenup</title>
		<link>http://smolenplevy.com/archives/3820</link>
		<comments>http://smolenplevy.com/archives/3820#comments</comments>
		<pubDate>Mon, 09 Jan 2012 22:31:56 +0000</pubDate>
		<dc:creator>SmolenPlevy</dc:creator>
				<category><![CDATA[Blog]]></category>

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		<description><![CDATA[Forget the Greek, when it comes to Russell Brand’s just announced divorce from Katy Perry, it’s get him to the bank. Media reports say the British comic actor stands to make more than $20 million dollars in the split from the pop superstar. Turns out the celebrity pair didn’t have a prenuptial agreement before they tied the knot in 2010 in India.  And that, says Alan Plevy and Kyung (Kathryn) Dickerson, Family Law attorneys at SmolenPlevy, is a problem for all couples &#8211; not just celebrities. Beyond the Brand-Perry split, the “no-prenup” issue has been in the news lately with the divorce of Kim Kardashian and Kris Humphries, who are arguing over the validity of their prenup. On the line: the $17 million dollars they earned from a televised wedding special&#8212;along with her 20.5 carat, two-million dollar diamond wedding ring. In addition, notorious actor/director Mel Gibson, whose just completed divorce from his wife of 31 years cost him $425 million. But Dickerson says these high profile cases shed light on the necessity of prenups in all marriages. Without one, ex-spouses may end up battling it out in court: a long, drawn-out process that no one wants to endure alongside the <a href="http://smolenplevy.com/archives/3820#more-3820'" class="more-link">more »</a>]]></description>
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		<title>A Guide For Witnesses</title>
		<link>http://smolenplevy.com/archives/3757</link>
		<comments>http://smolenplevy.com/archives/3757#comments</comments>
		<pubDate>Tue, 03 Jan 2012 18:22:41 +0000</pubDate>
		<dc:creator>SmolenPlevy</dc:creator>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[court hearings]]></category>
		<category><![CDATA[court proceedings]]></category>
		<category><![CDATA[depositions]]></category>
		<category><![CDATA[giving evidence]]></category>
		<category><![CDATA[Guide for witnesses]]></category>
		<category><![CDATA[how to testify]]></category>
		<category><![CDATA[preparing to testify]]></category>
		<category><![CDATA[testifying]]></category>
		<category><![CDATA[testifying in court]]></category>
		<category><![CDATA[testimony]]></category>
		<category><![CDATA[witnesses]]></category>

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		<description><![CDATA[There may be two scenarios when you might be called to testify as a witness; in a Deposition or in a Court proceeding. A Deposition generally occurs at a lawyer’s office and you are asked to answer questions. While a Deposition seems more casual, it should  be treated as a Court proceeding. The questions you are asked and answers you give will be recorded by a court reporter. Regardless of whether you are deposed or are testifying in Court, there are certain steps you should take to prepare and to give the most effective testimony. PREPARATION: ·     Prior to giving testimony, it is best to review any witness statements or responses that you have made to refresh your memory. ·     In the event you do not have a copy of your statement, then request one from the party that is calling you as a witness. ·     If you are testifying in a Court proceeding and have given a Deposition previously, make sure that you have reviewed the Deposition transcript thoroughly. ·      If you are testifying in a Court proceeding, you may wish to visit the Court in advance so that you are familiar with the location <a href="http://smolenplevy.com/archives/3757#more-3757'" class="more-link">more »</a>]]></description>
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