Tax Law News. Crime Stories, Law on News and Legal Publications in April, 2012

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Check crowdfunding investments carefully; pitfalls abound
Palm Beach Daily NewsApril 1, 2012

However, crowdfunding is about to take on a new dimension in the world of investing. Federal legislation at this writing was being finalized to let small companies issue stock with significantly limited registration and disclosure requirements.more »

'Massive' Credit Card Data Breach Involves All Major Brands
KRCRTV.COMApril 1, 2012

By Julianne Pepitone and Leigh Remizowski NEW YORK (CNNMoney) -- A data breach at a payments processing firm has potentially compromised credit and debit card information from all of the major card brands. Global Payments, a company that processes card ...more »

Tax Law News and Stories

Audit Defence
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Filing Taxes? Beware Sharp Increase in Audit Rates
ForbesApril 6, 2012

Ah, tax day with its inevitable fretting over returns, extensions and payments is almost upon us! It's hard not to think about your chance of audit when filing your taxes. Yet as a tax lawyer, I must assume every return will be audited.more »

Irs Filing & Compliance
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$12 billion in taxes go unpaid in California
Fresno BeeApril 7, 2012

... as chairman of the Board of Equalization and board member at the Franchise Tax Board. "When we find folks aren't, it places an unfair burden on everyone else playing by the rules." Dennis J. Ventry, a tax law professor at UC Davis School of Law, ...more »

Business Audit Defence
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Could Foxconn's factory in Brazil be a model for Apple production?
CNET (blog)April 11, 2012

A Brazilian labor leader says that Foxconn's record in Brazil shows that it can make Apple products safely, and provide decent wages for workers when labor laws and legitimate union representation require it. by Jay Greene April 11, 2012 7:00 AM PDT ...more »

Personal Irs Disputes
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NFLPA warns Saints players regarding possible criminal charges
NBCSports.comApril 2, 2012

While plenty of speculation has occurred regarding possible IRS interest in undeclared income arising from bounty payments and the potential application of state or federal conspiracy, assault, and/or battery laws, there's currently no hint of any ...more »

Property Taxes
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New tax-board review has high stakes for Phila.
Philadelphia InquirerApril 1, 2012

At issue is an arcane concept known as the "common level ratio," computed by the tax board. And its latest calculation was a potentially costly one for Philadelphia. Counties are supposed to submit monthly figures on property sales to the board.more »

Corporate Income Taxes
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IRS chief urges Congress to act on tax legislation
Chicago TribuneApril 5, 2012

Tax professionals have doubted whether the IRS has the muscle to enforce these "transfer pricing" disputes. Transfer pricing is a booming field of global tax law. It involves multinational corporations moving goods, services and assets from one ...more »

Sales Tax & Use Tax
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Alabama Basic Business Taxes 2012 | Alternative and Renewable Energy Act of ...
Area Development OnlineApril 3, 2012

Among other measures, the act provides tax credits and abatements for various energy-related expenditures. A 4 percent sales tax is based on gross retail sales and gross proceeds derived by lessors for leases or rentals. A 4 percent use tax is levied ...more »

Estate Taxes & Gift Taxes
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McManus: Obama's 'tax' lapse
Chippewa HeraldApril 3, 2012

But if the president had been brave enough back then to call a tax a tax, his healthcare law might not be in such a mess today. At the Supreme Court last week, both sides basically agreed that the Constitution allows the federal government to enact a ...more »

Tax Evasion Defence
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We all share duty of keeping state coffers healthy
Independent OnlineApril 2, 2012

The tax system can only succeed if taxpayers see that it is based on fairness and integrity. Allowing a few unscrupulous individuals or organisations to get away with evasion, aggressive avoidance and other forms of non-compliance, undermines the ...more »

International Taxation
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Retrospective amendment of tax laws arbitrary and punitive: Vodafone CEO
NDTVApril 2, 2012

Vodafone's CEO, Vottorio Colao, has written to the Prime Minister and to the Finance Minister about the government's proposal to amend tax laws. The modification, which will apply retrospectively from 1962, could allow the government to tax Vodafone ...more »

Tax Planning
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Council OKs plans for new access to MJR
Hometownlife.comApril 1, 2012

On a related matter, the council has scheduled a public hearing for 6:30 pm Monday for comments on an amended Brownfield Redevelopment plan which would provide up to $115000 tax credit for demolition and other costs relating to the project.more »

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