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

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Cities snuffing out hookah lounges
Minneapolis Star TribuneApril 1, 2012

City licensing staff said hookah lounges were taking advantage of the lack of definition for "sampling" in state law to "justify the operation of exclusive smoking nightclubs." Justin Jahangiri said the city ordinance will put him out of business.more »

Charlottesville budget proposal relies on raiding certain funds
The Daily ProgressApril 1, 2012

Today: City Hall's balancing act; group meeting in May to determine future of city schools. Monday: Budget would deny request for key public safety strategy. Today: City Hall's balancing act; group meeting in May to determine future of city schools.more »

Tax Law News and Stories

Audit Defence
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In the end, Michael J. Ritacco was all business
Asbury Park PressApril 6, 2012

“This conduct strikes at the core of our trust in government and is intolerable, and today's plea is another affirmative step in federal law enforcement's efforts to ensure that the local government insurance brokerage business in the state of New ...more »

Irs Filing & Compliance
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New reporting obligations if you have foreign financial assets
Lexology (registration)April 3, 2012

The IRS has instituted new reporting requirements for taxpayers with foreign financial assets effective for 2011 tax filings. These provisions are part of a broad initiative by the federal government to increase tax compliance, and may impact your ...more »

Business Audit Defence
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Audit queries regulator's suspension of CMC shares
Business Daily AfricaApril 1, 2012

In a report that was handed over to the Capital Markets Authority (CMA) in February and made public last week, Webber auditors say the regulator did not follow the law in making the decision that was not in the best interest of investors.more »

Personal Irs Disputes
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Former Toms River Regional Super Michael Ritacco co-defendant pleads guilty to ...
Asbury Park PressApril 3, 2012

Thomas P. Costello / Asbury Park Press Photo Superintendent Michael Ritacco listens to a question about charges of fraud and bribery over an alleged insurance-kickback scheme, as he leaves court in Newark, NJ The former superintendent of New Jersey's ...more »

Property Taxes
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Real Estate Tax Appeal Evidence: Admissible in Eminent Domain Case?
NJ TODAYApril 2, 2012

by Cory K. Kestner / New Jersey Condemnation Law A Kansas property owner recently challenged the $7.5 million award of court-appointed appraisers in an eminent domain matter, only to have the award reduced to $6.95 million at trial based on evidence of ...more »

Corporate Income Taxes
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Even Detroit Gets a Boost With Local Income Taxes at 4-Year High
BusinessWeekApril 2, 2012

The benefactor: its income tax. As the US begins to shake off a recession that bankrupted two Michigan automakers, and factories rehire thousands, most of the state's 22 cities with income taxes are getting a windfall. Historically, a volatile levy of ...more »

Sales Tax & Use Tax
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Revenue Solutions, Inc. and the State of Missouri, Department of Revenue to ...
MarketWatch (press release)April 3, 2012

Revenue Premier, leveraging new - open technology, will support the administration of Missouri's personal income tax, withholding tax, corporate income tax, sales & use tax, property tax credit and battery & tire fee. The system will annually process ...more »

Estate Taxes & Gift Taxes
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Retrospective changes in tax law will affect corporate investments and ...
Economic TimesApril 4, 2012

It would shore up tax compliance costs for corporate investments, and almost certainly affect investor confidence. The move is designedto back up the nearly $2.3-billion tax demand on British telecom giant Vodafone, on a 2007 transaction involving ...more »

Tax Evasion Defence
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Switzerland, Austria Agree to Settle in Tax-Evasion Dispute
BloombergApril 13, 2012

Switzerland and Austria reached an agreement to end a dispute over tax evasion by wealthy Austrians holding offshore accounts with Swiss private banks. “Under this agreement, persons resident in Austria can retrospectively tax their existing banking ...more »

International Taxation
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Japan in Sales-Tax Battle
Wall Street JournalApril 1, 2012

But anti-tax lawmakers within his party may hinder the premier's attempt to push the tax discussion forward. The fiscally hawkish prime minister reiterated that he has staked his political career on writing into law the two-step national consumption ...more »

Tax Planning
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Patch Reader's Poll Results: Best CPA for Last-Minute Tax Prep
Patch.comApril 6, 2012

Delson Associates have been providing services of tax preparation, retirement and tax planning to businesses and individual clients for over 50 years. They are located at 138 Bloomfield Avenue near the intersection of Grove Street.more »

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