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

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Rockefeller Supports Blind Trust for Members of Congress
HNN Huntingtonnews.netFebruary 1, 2012

The Stop Trading on Congressional Knowledge Act of 2012 (STOCK Act) says US Representatives and Senators may not use information they gain in their role as Members of Congress. “Elected officials have a duty to our constituents to be above board in ...more »

Supreme Court order a signal to stop misuse of sanction power
Daily MailFebruary 1, 2012

By Mail Today Reporter There seems no end to the embarrassment that the United Progressive Alliance government has had to face on account of the 2G spectrum scam. The Supreme Court's order of Tuesday stating that Janata Party leader Subramanian Swamy ...more »

Tax Law News and Stories

Audit Defence
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Identity Theft Crackdown Sweeps Across the Nation
Clarksville OnlineFebruary 1, 2012

“The Justice Department is working closely with the IRS to investigate, prosecute, and punish tax refund crimes committed through the theft of identities,” said Principal Deputy Assistant Attorney General John A. DiCicco of the Tax Division.more »

Irs Filing & Compliance
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IRS and Treasury Propose New FATCA Rules
Accounting TodayFebruary 8, 2012

The proposed regulations implement FATCA's obligations in stages, in an effort by the IRS and the Treasury to minimize the burdens and costs consistent with achieving the statute's compliance objectives. The rules and implementation schedule have also ...more »

Business Audit Defence
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How to Hire Independent Contractors (Without Getting in Trouble)
New York TimesFebruary 1, 2012

What I'm doing is trying to keep a smaller in-house contingent and supplement it with contractors based on the ebbs and flows of how much business we have.” For both legal and practical reasons, Scale Computing does not use contractors in areas like ...more »

Personal Irs Disputes
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Effectiveness of tax amnesty
Hindu Business LineFebruary 5, 2012

The context of the paper is the US, where the Government has engaged in a number of well-publicised enforcement efforts in an attempt to collect back taxes owed on funds in these accounts and encourage future compliance with the federal income tax laws...more »

Property Taxes
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RWH to be made mandatory in all city corporations
Deccan HeraldFebruary 2, 2012

An amendment bill that proposes to make rainwater harvesting mandatory in all city corporations in the State was tabled in the Legislative Assembly on Thursday. The bill also proposes to exempt property tax on building and land belonging to ...more »

Corporate Income Taxes
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Working poor hit the hardest on income tax
The News JournalFebruary 3, 2012

I favor much less federal spending and federal bureaucracy, but when it comes to the Earned Income Tax Credit, I take the side of the working poor. The working poor pay substantial federal taxes. They pay payroll taxes and they pay gasoline taxes.more »

Sales Tax & Use Tax
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Amazon to SC customers: Don't forget sales tax
Greenville NewsFebruary 1, 2012

We're working on the following obituaries for Thursday morning's newspaper: Louise Francis Howard of Greenville (Thomas McAfee Funeral Home, Downtown); Joe A. Ivester of Greenville (Robinson Funeral Home); Earnest J. Sloan Jr. of Simpsonville (Watkins, ...more »

Estate Taxes & Gift Taxes
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Taxing Gifts to Super PACs?
Wall Street Journal (blog)February 6, 2012

A little-known provision of the tax law appears to impose a gift tax on large contributions to 501(c)(4) social-welfare organizations, which often serve as conduits for donations to Super PAC's. (Tax-exempt social-welfare organizations are popular for ...more »

Tax Evasion Defence
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Father, son owners of Elgin-area club charged with tax evasion
Chicago Daily HeraldFebruary 2, 2012

... each were charged with one count of conspiracy to defraud the United States by obstructing the Internal Revenue Service and one count of operating an illegal gambling business, according to the Office of US Attorney Patrick Fitzgerald.more »

International Taxation
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Tax Trivia Giveaway #3: High Income Taxpayers
ForbesFebruary 1, 2012

While at law school, I interned at the estates attorney division of the IRS. At IRS, I participated in the review and audit of federal estate tax returns. I even took the lead on a successful audit. At audit, opposing counsel read my report, ...more »

Tax Planning
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Wayne Co. offers homes in Detroit for cheap
The Detroit NewsFebruary 6, 2012

The situation is a glaring example of the city's ravaged real estate market, said John Mogk, a Wayne State University law professor who studies land issues. Some 12300 Detroit parcels were foreclosed because of nonpayment of taxes last year.more »


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