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

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Crimes Targeting Elderly Seen As Growing Trend
13WHAM-TVFebruary 1, 2012

Mason makes that claims while pointing to an aging population of “Baby Boomers” as well as a 2010 Cornell University study on Elder Abuse Prevalence in New York State. That study (attached) estimates that 260000 older New Yorkers “had been victims of ...more »

Not 'Desperate' for cash: Obama lists his big fundraisers
msnbc.comFebruary 1, 2012

One of the president's top bundlers, former New Jersey governor Jon Corzine, recently caused embarrassment for the campaign when his investment firm, MF Global, filed for bankruptcy, triggering an FBI investigation into whether its clients' money had ...more »

Tax Law News and Stories

Audit Defence
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Married Filing Separately, Joint or Single? Find Out Your Filing Status
Learnvest Living (blog)February 5, 2012

Plus, it's one of things that, if you get it wrong, will definitely land you in a dreaded audit. Your filing status basically expresses how you wish to be treated by the IRS, and can determine which deductions and credits you are allowed to take, ...more »

Irs Filing & Compliance
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Jeffrey R. Scharf, Everybody's Business: Tax code in crisis, with no relief in ...
Santa Cruz SentinelFebruary 5, 2012

These statistics come from the Taxpayer Advocate Service of the IRS and do not include the foot-long shelf of IRS interpretive opinions or the millions of taxpayer hours spent complying with IRS audits. To quote TAS, "if tax compliance were an industry ...more »

Business Audit Defence
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Bartlett wants forensic audit of alleged election irrgularities
Jamaica ObserverFebruary 2, 2012

Stewart, who is also alarmed over what he felt were blatant irregularities in polling division 50, has advised his team of attorneys-at-law, including Clayton Morgan, to take the matter to the Supreme Court for a solution. However, Morgan says he is ...more »

Personal Irs Disputes
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Swiss Bank Wegelin Charged in US With Aiding Tax Evasion
BusinessWeekFebruary 3, 2012

“Wegelin Bank aided and abetted US taxpayers who were in flagrant violation of the tax code,” Manhattan US Attorney Preet Bharara said in a statement. The US and Switzerland are in talks to resolve a US probe of offshore tax evasion.more »

Property Taxes
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Wirth tax bill clears hurdle, heads to tough committee
Santa Fe New Mexican.comFebruary 2, 2012

Wirth has repeatedly framed his bill as a way to help New Mexico businesses, and he did that again Wednesday night, arguing that local businesses, both small and large, are at a disadvantage because of New Mexico's tax code. His bill would require all ...more »

Corporate Income Taxes
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Taxes Are Forever (but tax laws may well be changing)
BankInvestmentConsultant.comFebruary 1, 2012

In addition, a 3.8% surtax on investment income in excess of $200000 will take effect in 2013. For clients with substantial investment income, the effects will feel Draconian. Worst-case scenario: The marginal tax rate on qualified dividends-those paid ...more »

Sales Tax & Use Tax
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Online Sales Tax Debate: Impact To Small Businesses
NuWire InvestorFebruary 2, 2012

If a business does not collect sales tax, it's the consumer's responsibility to report purchases on their state income tax and pay a "use tax," but very few people actually pay it. So the government is once again turning its eye to the issue, ...more »

Estate Taxes & Gift Taxes
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What is a 'value-added tax' and what can it mean for the economy?
Christian Science MonitorFebruary 1, 2012

A well-designed Value-Added Tax, a national consumption levy that would tax household purchases of all goods and services, could simplify the tax code for most households and finance significant reductions in corporate and individual income tax rates ...more »

Tax Evasion Defence
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IT notice to diesel don over tax evasion notice to Ali for over 8cr IT dues
Times of IndiaFebruary 1, 2012

The income tax department has issued a notice to him for evading tax to the tune of Rs 8.36 crore. The IT investigating cell has issued a notice to Mohammed Ali's firm, Aqdas Maritime Agency, has been slapped with a notice by the IT investigating cell ...more »

International Taxation
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At 102%, His Tax Rate Takes the Cake
New York TimesFebruary 3, 2012

Mr. Ross's plight illustrates something that came through in nearly every response and cuts across nearly all income levels: the disparities of the tax code don't just pit rich against poor or middle class. It taxes people within the same income ...more »

Tax Planning
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Dutch Debt Deduction Threat Seen Jeopardizing Market: Mortgages
BusinessWeekFebruary 2, 2012

3 (Bloomberg) -- For the Dutch, holders of the most mortgage debt as a percentage of gross domestic product, tax breaks on house payments are more than a government policy. They're a tradition under threat. With debt levels at twice the European ...more »

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