Tax Law News. Crime Stories, Law on News and Legal Publications in December, 2011

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Connecticut Man Sentenced for Role in $4 Million Mortgage Fraud Scheme
LoanSafeDecember 1, 2011

... Insurance Corporation, Office of Inspector General; and State of Connecticut Department of Banking. To report financial fraud crimes, and to learn more about the President's Financial Fraud Enforcement Task Force, please visit www.stopfraud.gov.more »

EPA Proposes Stricter Rules For Ship Ballast Water
SalonDecember 1, 2011

The agency took over the pension plans in 2004 and 2005 after United filed for bankruptcy court protection in December 2002. When the PBGC takes over plans, it pays promised benefits to retirees up to certain limits. ...more »

Tax Law News and Stories

Audit Defence
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Judge Slams FBI, Prosecutors For Misconduct in Bribery Case
ForbesDecember 6, 2011

Agent Susan Guernsey compounded the problem by testifying twice to a grand jury about the nonexistent payments to Sorvill, as well as saying Lee executives took suspicious actions in 2006 in response to an IRS audit they didn't learn about until later. ...more »

Irs Filing & Compliance
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UCF's for-profit activities are focus of IRS audit
Orlando SentinelDecember 11, 2011

The university has not yet filed a tax return for income collected in 2010, a university spokesman said. The IRS released an interim report last year on its Colleges and Universities Compliance Project that indicates higher-education institutions, ...more »

Business Audit Defence
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FAMU halts task force pending law-enforcement investigation
USA TodayDecember 2, 2011

One trustee questioned whether next week's meeting will actually happen; another said he would resign from the board if the hazing scandal and turmoil in the Office of Audit and Compliance are not addressed. FAMU spokeswoman Sharon Saunders said the ...more »

Personal Irs Disputes
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Loose Lips Daily: The Day Before The Day of Reckoning Arrives
Washington City Paper (blog)December 5, 2011

By the end of the day, we learned that both the FBI and the IRS are keenly interested in Thomas' affairs, that the feds have enough evidence against Thomas to get a judge to sign off on search and seizure warrants, that Thomas likely traded in his ...more »

Property Taxes
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Squatters claim more than $8 million worth of Tarrant County properties
Fort Worth Star TelegramDecember 4, 2011

Neither he nor Michael Littlejohn of Southeast Investments has a criminal record. Campbell bristles at the idea of criminals trying to take advantage of adverse possession laws. That's not what Southeast Investments is all about, he said. ...more »

Corporate Income Taxes
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Ormet Reports Third Quarter 2011 Earnings
MarketWatch (press release)December 1, 2011

Income Tax Provision- The Company recorded an income tax benefit (based on a statutory rate of 35 percent) of $3.6 million from continuing operations for the three months ended September 30, 2011. Discontinued Operations- As a result of the sale of the ...more »

Sales Tax & Use Tax
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Capitol Alert: Jerry Brown wants tax hikes to wealthy, sales to raise $7 billion
Sacramento BeeDecember 1, 2011

He expects the tax plan to help bridge next year's budget deficit, which the nonpartisan Legislative Analyst's Office pegs at $12.8 billion. Under the measure, California would impose a half-cent sales tax increase starting in 2013 and an income tax...more »

Estate Taxes & Gift Taxes
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Hungary insists telecom tax complies with EU law
ReutersDecember 2, 2011

BUDAPEST Dec 2 (Reuters) - Hungary has told the European Commission that a special telecommunications sector tax levied for 2010-2012 did not break EU rules and will not be abolished, the Foreign Ministry said on Friday. Hungary uses the telecom tax, ...more »

Tax Evasion Defence
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Montgomery Doctor pleads guilty, husband convicted of tax fraud
WSFADecember 2, 2011

MONTGOMERY, AL (WSFA) - According to a release from the Department of Justice, William Paul was convicted Thursday by a federal jury on four counts of tax evasion. Paul's wife, board-certified rheumatologist Donna Paul, pleaded guilty to one count of ...more »

International Taxation
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The Tax Office wants you - or, at least, it wants your money
Sydney Morning HeraldDecember 4, 2011

The government has taken the extraordinary step of introducing three retrospective tax law changes in the past few months. Photo: Belinda Pratten A HUGE hole in the federal budget to the tune of $20 billion will become a game changer for business and ...more »

Tax Planning
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Use Standard End-of-Year Tips to Decrease 2011 Tax Bill
Business Review Australia (press release)December 4, 2011

KANSAS CITY, MO--(Marketwire - Nov 29, 2011) - Compared to this time last year, discussion about immediate changes for individual income taxes is pretty quiet. No uproar this year over the Bush tax cuts ending makes end-of-year tax planning a little ...more »

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