# Basswood Counsel: Navigating legal complexities with care

> Basswood Counsel is a boutique law firm providing hands\-on, strategic corporate, mergers and acquisitions, tax, and transactional counsel—designed to navigate legal complexity with ease\.

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## Pages
- [Home](https://basswoodcounsel.com/)
- [Let's Talk](https://basswoodcounsel.com/lets-talk/)
- [About SooIn Park](https://basswoodcounsel.com/meet-your-team/about-sooin-park/)
- [Emerging Companies \& Startups](https://basswoodcounsel.com/services/emerging-companies-startups/)
- [Estate Planning](https://basswoodcounsel.com/services/estate-planning/)

## Posts
- [IRS Automatic Penalty Relief](https://basswoodcounsel.com/irs-automatic-penalty-relief/): The IRS is introducing a new automatic process that will provide penalty relief to eligible taxpayers without requiring a separate First Time Abate request\. This article explains how the Automatic Exemption from Penalty process works, which returns qualify, and what taxpayers should do if a penalty is still assessed\.

- [FBAR vs\. FATCA: Understanding the Key Similarities and Differences ](https://basswoodcounsel.com/fbar-vs-fatca-reporting-requirements-compliance/): FBAR and U\.S\. FATCA are often discussed together, but they are separate reporting regimes with distinct filing requirements, thresholds, and compliance obligations\. While both aim to increase transparency around foreign financial assets and offshore accounts connected to U\.S\. taxpayers, compliance with one does not necessarily satisfy obligations under the other\. Understanding the key similarities and differences can help individuals, businesses, and financial institutions avoid reporting gaps and potential penalties\.

- [Understanding U\.S\. Taxation of Multistate and Foreign Corporations](https://basswoodcounsel.com/understanding-us-taxation-multistate-foreign-corporations/): As businesses increasingly operate across borders and state lines, understanding where tax obligations arise has become more complex than ever\. This article explores how foreign and multistate corporations may become subject to U\.S\. federal income tax, state income tax, and state sales tax, and highlights the nexus and sourcing rules that drive compliance obligations\.
- [The Fundraising Strategy Nobody Talks About: Being Ready Before You Raise](https://basswoodcounsel.com/the-fundraising-strategy-nobody-talks-about-being-ready-before-you-raise/): The smartest founders don’t start preparing when the term sheet arrives \-they build fundraising leverage months in advance by making their company diligence\-ready before investors ever ask\.
- [Trump Accounts Explained: What Families Need to Know](https://basswoodcounsel.com/trump-accounts-explained-what-families-need-to-know/): Trump Accounts, introduced under the One Big Beautiful Bill Act, provide families with a new savings tool that combines tax benefits and long\-term planning opportunities\. Learn how parents, employers, and even charities can contribute, and why this provision may be a valuable addition to your family’s financial strategy\.

## Podcasts
- [Spain as a Gateway to Europe: Planning a U\.S\. Expansion](https://basswoodcounsel.com/podcast/spain-market-entry-us-companies/): What should a U\.S\. company consider before entering Spain? This episode examines market\-entry planning, employment requirements, local presence, and other issues businesses may encounter when expanding into the Spanish market\.  
- [Part 1: Broker Dealer Compliance Deep Dive: Regulatory Foundation — Registration, WSPs, Capital Requirements, and FINRA Approval](https://basswoodcounsel.com/podcast/broker-dealer-compliance-registration-wsps-finra-approval/): From FINRA registration and WSPs to capital requirements and supervision systems, this episode explores the foundational side of broker\-dealer compliance\. 
- [Do U\.S\. Persons Abroad Still Need to File Taxes?  ](https://basswoodcounsel.com/podcast/us-citizens-persons-abroad-file-taxes/): This episode examines U\.S\. tax obligations for citizens, green card holders, and other U\.S\. persons with income or assets outside the United States\. Topics include foreign tax credits, FBAR, FATCA, foreign entities, and prior\-year compliance\. 

- [Moving a Company to Another State: Understanding Corporate Domestication](https://basswoodcounsel.com/podcast/corporate-domestication-moving-company-state/): Corporate domestication allows certain businesses to relocate their legal domicile without necessarily dissolving the existing entity\. This episode examines the tax, legal, and regulatory considerations that should be evaluated before making that decision\. 

- [AI \& Corporate Governance](https://basswoodcounsel.com/podcast/s1-episode-1-ai-corporate-governance/): AI has the power to amplify both strengths and weaknesses within an organization\. In this conversation, we discuss why boards must actively engage with AI \- setting guardrails, governance frameworks, and leadership structures to manage risk and unlock value\. 

## Events
- [Chris Klug is attending Integra International's Cross Border Tax Workshop in Milan](https://basswoodcounsel.com/event/cross-border-tax-workshop-2026/): Basswood Counsel will attend Integra International’s Cross\-Border Tax Workshop 2026 in Milan, joining tax and accounting professionals for international tax discussions, knowledge sharing, and cross\-border collaboration\. 
- [Basswood Counsel Sponsors the DC Capital Region M\&A Conference 2026](https://basswoodcounsel.com/event/dc-capital-region-ma-conference/): Basswood Counsel is sponsoring the DC Capital Region M\&A Conference, bringing together entrepreneurs, investors, lenders, and advisers for discussions covering the middle\-market M\&A landscape\. 
- [Jyoti Vason Attends the ICAI Global Summit 2026](https://basswoodcounsel.com/event/jyoti-vason-attends-icai-global-summit-2026/): Hosted by the Institute of Chartered Accountants of India \(ICAI\), the ICAI Global Summit 2026 highlights opportunities for collaboration, innovation, and leadership across the profession\.
- [Jephte Lanthia Attends BlockchAIn Bootcamp \& Workforce Expo](https://basswoodcounsel.com/event/jephte-lanthia-attends-blockchain-bootcamp-workforce-expo/): Jephte Lanthia will attend the BlockchAIn Bootcamp Workforce Expo, hosted by the Maryland Blockchain Association from July 13–17, 2026, at Capitol Technology University\. The event will bring together experts to explore AI, blockchain, robotics, technology law, and workforce innovation\. 
- [Basswood Counsel to Attend The MarTech Summit Manila](https://basswoodcounsel.com/event/basswood-counsel-attend-martech-summit-manila2026/): Basswood Counsel team members Joan Galula and Lyne Ramos will attend MarTech Summit Manila to explore trends in marketing technology, AI, digital transformation, and customer experience\.


## Categories
- [News and Insights](https://basswoodcounsel.com/category/blog/)
- [Series 2](https://basswoodcounsel.com/category/podcast/series-2/)
- [Podcast](https://basswoodcounsel.com/category/podcast/)

## Tags
- [Tax Planning](https://basswoodcounsel.com/tag/tax-planning/)
- [Global Tax Planning](https://basswoodcounsel.com/tag/global-tax-planning/)
- [Individual Tax Planning](https://basswoodcounsel.com/tag/individual-tax-planning/)
- [One Big Beautiful Bill Act](https://basswoodcounsel.com/tag/one-big-beautiful-bill-act/)
- [IRS Employee Retention Credit](https://basswoodcounsel.com/tag/irs/)

## Series
- [Season 2](https://basswoodcounsel.com/podcast_series/season-2/)
- [Season 1](https://basswoodcounsel.com/podcast_series/season-1/)

## Practice Areas
- [Corporate](https://basswoodcounsel.com/podcast_practice_area/corporate/)
- [Tax](https://basswoodcounsel.com/podcast_practice_area/tax/)
- [Estate Planning](https://basswoodcounsel.com/podcast_practice_area/estate-planning/)
- [Family Office](https://basswoodcounsel.com/podcast_practice_area/family-office/)

## Optional
- [Sitemap index](https://basswoodcounsel.com/sitemap_index.xml)