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

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Federal judge dismisses part of fraud case against Citi
Thomson Reuters News & InsightOctober 1, 2011

For plaintiffs: Stuart Grant and Megan McIntyre of Grant & Eisenhoffer. For Citi defendants: Brad Karp, Richard Rosen, Susanna Buergel and Karen King for Paul, Weiss, Rifkind, Wharton & Garrison. (Reporting by Nick Zieminski) REUTERS / Lucas Jackson.more »

A federal takeover of education
Washington PostOctober 1, 2011

Such federal aid to education came in 1965, the year of liberals living exuberantly, which produced Medicare and the Elementary and Secondary Education Act (ESEA). The latter completed the long repudiation of the idea that some sectors of life are ...more »

Tax Law News and Stories

Audit Defence
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Two US Army Corps of Engineers Employees and Two Others Indicted in $20 ...
7thSpace Interactive (press release)October 4, 2011

According to the indictment, Kerry Khan and Alexander helped funnel more than $45 million in payments to a favored company through a federal government contract they oversaw, with plans to steer hundreds of millions more to the business. ...more »

Irs Filing & Compliance
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Why Foreign Banks Will Shun American Business
Palisades Hudson Financial GroupOctober 13, 2011

Soon, however, foreign banks may start closing their doors to American depositors, thanks to an overreaching US law. Slipped into the Hiring Incentives to Restore Employment (HIRE) Act, passed in 2010, was a piece of tax legislation that may ...more »

Business Audit Defence
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IRS Auditing How Google Shifted Profits Offshore to Avoid Taxes
BusinessWeekOctober 13, 2011

Oct. 13 (Bloomberg) -- The US Internal Revenue Service is auditing how Google Inc. avoided federal income taxes by shifting profit into offshore subsidiaries, according to a person with knowledge of the matter. ...more »

Personal Irs Disputes
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Marietta author accused of 'circle of lies'
Atlanta Journal ConstitutionOctober 14, 2011

Gross, now 61, was arrested by IRS agents on Oct. 6 at the home of his new fiancee and charged with wire fraud and money laundering. He has pleaded not guilty to the charges and is being held without bond pending trial. It marked a dramatic turn of ...more »

Property Taxes
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Church upset about tax bill for YMCA daycare
Northwest Cable NewsOctober 1, 2011

"They need to pay their fair share of the property tax, based on the amount of revenue that they're receiving," said Yzaguirre. That comes out to be a property tax bill of $17000. That leaves the two non-profits with very few options. ...more »

Corporate Income Taxes
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Times-Call staff
Longmont Daily Times-CallOctober 2, 2011

What it means: Colorado's income tax would increase from 4.63 percent to 5 percent and state sales tax would increase from 2.9 percent to 3 percent for five years, effective Jan. 1. The increased revenue, all of which would go to education, ...more »

Sales Tax & Use Tax
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DeSoto sales tax holding steady
Shreveport TimesOctober 12, 2011

MANSFIELD — DeSoto sales tax collections are down only slightly from the previous month, according to the DeSoto Parish Sales and Use Tax Commission's September report issued last week. Gross collections totaled almost $8.3 million, which on paper is ...more »

Estate Taxes & Gift Taxes
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Is Obama Tax Hiker In Chief? Not Exactly
ForbesOctober 4, 2011

Average after-tax incomes would, in fact, be almost exactly the same for taxpayers in every income category except for those in the top one percent. If many Democrats got their wish and we returned to the Clinton-era tax law, after-tax incomes in 2013 ...more »

Tax Evasion Defence
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Judge resigns after investigation into alleged tax evasion
Jerusalem PostOctober 3, 2011

The Justice Ministry announced on Monday that a Tel Aviv Magistrates' Court judge has been investigated by the police on suspicion of evading taxes over a period of eight years. The tax authorities began to suspect Judge Dan Mor, ...more »

International Taxation
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Cook County to join sales tax battle against Kankakee and Channahon
Chicago TribuneOctober 3, 2011

The consultants and other defendants say they do not divert sales taxes from other communities, and that their actions have been completely within the law. They decline, however, to identify their clients, citing confidentiality agreements and saying ...more »

Tax Planning
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IRS will start to test tax preparers
The Detroit NewsOctober 3, 2011

In the wake of studies that found tax returns filed by paid preparers can be riddled with mistakes, the Internal Revenue Service is clamping down on the industry. Up to now, paid tax preparers in most states were free to hold themselves out as experts ...more »

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