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

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Listeria outbreak: Victims file lawsuits, but will they receive damages?
Christian Science MonitorOctober 1, 2011

It wasn't long after officials linked a listeria outbreak with cantaloupe from a Colorado farm that wrongful-death and personal-injury lawsuits began to be filed. The outbreak, which is the deadliest food crisis in more than a decade, has killed at ...more »

Expert liability for ratings agencies
The National Law JournalOctober 1, 2011

Noting this concern, the staff advised that they would not recommend enforcement of Regulation AB's requirements for prospectus disclosure of ratings. The enforcement position was initially effective for six months, and by replacement letter made ...more »

Tax Law News and Stories

Audit Defence
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Brookline Opthalmologist Sentenced for Tax Evasion
Patch.comOctober 14, 2011

In 2008, during an IRS audit of Omega's defined pension benefit plan, the government claims that Hughes obstructed that audit by communicating false information to the IRS about the nature of Omega's business. United States Attorney Carmen M. Ortiz and ...more »

Irs Filing & Compliance
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White House Backs House GOP Jobs Bill
HispanicBusiness.comOctober 27, 2011

But businesses protested, arguing that compliance costs would far outweigh the $11 billion the government would reap in better tax payments. The IRS has already delayed the requirement until 2013, and President Obama and congressional Republicans now ...more »

Business Audit Defence
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IRS inability to reign in tax fraud vexes law enforcement
Tbo.comOctober 10, 2011

"If they took the time to fully audit, fully review every single item on just a basic tax return, it may be a year or many more months before each refund is generated, and the public, you know, the politicians aren't going to put up with major delays ...more »

Personal Irs Disputes
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Fairfax medical marijuana dispensary in cross-hairs of federal prosecutors
Marin Independent-JournalOctober 8, 2011

Shaw said once her court case with the IRS begins, she hopes to get a judge to issue a stay that would postpone any action against her landlord by the US attorney. Her first preliminary hearing in the case is scheduled for Nov. 8. ...more »

Property Taxes
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Tompkins is first county in NY to override new property tax cap
Ithaca JournalOctober 6, 2011

Ithaca -- Tompkins County is the first county in New York to override the state's property tax cap, after the legislature voted Tuesday to approve a local law authorizing itself to raise the tax levy more than the state's limit. The tax cap, new this ...more »

Corporate Income Taxes
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Are tax reforms delivering?
DAWN.comOctober 3, 2011

Currently, the tax- to-GDP ratio hovers between 9-10 per cent, well below the potential of 60 per cent increase in revenue at the current GDP level. The ability to tax is a mix of law and tax administration. The best tax policy will be a failure if ...more »

Sales Tax & Use Tax
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Do you support the ten-year extension of Fayetteville's 1-cent sales and use...
Ozarks UnboundOctober 5, 2011

Early voting began Tuesday to extend a 1-cent sales and use tax that heavily pads Fayetteville's general operating fund which pays employees' salaries and benefits. If the public rejects renewal of the tax on Oct. 11, employees will be fired and ...more »

Estate Taxes & Gift Taxes
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Wes Moss: Would you pay more taxes under '999′ plan?
Atlanta Journal Constitution (blog)October 3, 2011

That's great marketing, but there's more to the explanation, and my bet is that is has roots in “Hauser's Law.” Economist William Hauser discovered that no matter what the top tax rate is, the federal government's tax revenues equal roughly 19.5 ...more »

Tax Evasion Defence
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Tax-evasion charges dropped against former Main Line doctor
Main LineOctober 2, 2011

WEST CHESTER – Citing reasons of “judicial economy,” authorities on Monday withdrew charges of state income-tax evasion against a former Main Line doctor who was convicted of running a “pill mill” from his Strafford home and his ...more »

International Taxation
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Million-dollar law: New vacation rental law causes boom tax collections ...
San Jose Mercury NewsOctober 8, 2011

They include real estate professionals, local small business owners and others who should be familiar with regulations and county paperwork. Irene Whitmore did respond. She and her husband rent out their in-law unit on 12th Avenue, a picturesque Live ...more »

Tax Planning
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Year-End Tax Planning Easy and Free for Everyone -- Including You -- With ...
MarketWatch (press release)October 3, 2011

TaxACT is the only year-round Web-based federal tax planning and preparation solution, releasing preview versions in October and final versions in early January. "Preview versions of TaxACT give taxpayers an edge in year-end tax planning and savings," ...more »

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