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

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Feds reach deal with NJ Transit to reduce ARC tunnel debt to $95M
NorthJersey.comOctober 1, 2011

The state has so far spent just over $1 million in legal fees to fight the debt. John Wisniewski, chair of the Assembly Transportation Committee, said New Jersey commuters still lost out. “While the governor may tout his settlement as a win for New ...more »

U.S. Considers More Legal Challenges Against State Crackdowns on Illegal ...
Fox NewsOctober 1, 2011

She said federal law doesn't prohibit checking students or suspects pulled over by police. She also refused to stop provisions that allow police to hold suspected illegal immigrants without bond; bar state courts from enforcing contracts involving ...more »

Tax Law News and Stories

Audit Defence
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IRS, Federal Prosecutors Cracking Down on California Marijuana Dispensaries
NoozhawkOctober 7, 2011

IRS media relations specialist Anabel Marquez said she couldn't comment since the move involved private taxpayer information. She did say an IRS audit can include six years of returns, but usually only goes back that far if “a substantial error” is ...more »

Irs Filing & Compliance
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IRS inability to rein in tax fraud vexes law enforcement
Tbo.comOctober 10, 2011

"The IRS just sent the money, and they don't check that the business exists or anything," he added. Ellsworth said the sheriff's department immediately notified the IRS and provided evidence, including recorded telephone conversations, crib sheets and ...more »

Business Audit Defence
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State audit faults Freeport for mismanagement
Long Island Business NewsOctober 11, 2011

Three firms collectively received $136820 even though they had no contract with the Village, and payments to one firm exceeded the board-approved contract limit by $74803, according to the audit. The Comptroller's office noted there's no legal...more »

Personal Irs Disputes
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IRS offers employers partial amnesty
San Francisco ChronicleOctober 6, 2011

They are not really independent contractor duties," says Jim Brown, an employment lawyer with Sedgwick. Employers in California might be especially reluctant to enter the IRS program because "it is the most dangerous state for wage and hour litigation ...more »

Property Taxes
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Bill would let more students attend private schools with public money
Chillicothe GazetteOctober 3, 2011

In the Chillicothe City Schools, a district already reeling from lost revenue through open enrollment and the phase-out of the tangible personal property tax, the voucher bill is being perceived as yet another attack on public schools by state ...more »

Corporate Income Taxes
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Congressman Peter Roskam's Tax Hike Prevention Bill
CNBC.comOctober 6, 2011

Earlier this week, Congressman Peter Roskam (R-IL) introduced a new piece of tax legislation called The Tax Hike Prevention & Business Certainty Act. I asked him what this bill would do and what kind of impact this would have on businesses and the ...more »

Sales Tax & Use Tax
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Avalara Releases AvaTax 1099, Partners with Convey
Accounting TodayOctober 4, 2011

The product offers real-time Tax Identification Number verification, automatic updates, guaranteed compliance, built-in W-9 and B-Notice remediation processing, and automated printing and mailing “Both tax information reporting and sales and use tax...more »

Estate Taxes & Gift Taxes
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Business continues rage against carbon tax
ABC OnlineOctober 12, 2011

ANTHONY HOBLEY, NORTON ROSE AUSTRALIA: They're not going to want to be plunged back into the sort of realm of uncertainty again, so I think many businesses who perhaps remained quiet during the recent debate, would perhaps when this is the law of the ...more »

Tax Evasion Defence
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Tax evasion 'net is tightening'
BBC NewsOctober 7, 2011

"This is a significant agreement which opens a new chapter in tackling international tax evasion," said Gary Ashford, of the CIOT. "Rightly, the net is tightening on those who think they can keep money in offshore bank accounts out of sight of the ...more »

International Taxation
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If you're not a US citizen, new tax law doesn't apply
Montreal GazetteOctober 6, 2011

MONTREAL - Canadians concerned about the US government's tough new tax and financial reporting crackdown first need to determine whether or not they are US citizens, says a tax expert familiar ...more »

Tax Planning
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High-frequency trading tax absurd, says options chief
Financial TimesOctober 3, 2011

His comments come as the European Commission is planning a financial transactions tax, specifically aimed at reining in HFT, which accounts for about half of all trading volume in equity markets in the US and Europe, and an increasing share of options ...more »

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