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

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Feinstein begins to replenish campaign account
San Francisco ChronicleFebruary 1, 2012

Durkee is facing a federal mail-fraud charge. Feinstein, who is a heavy favorite to win her fourth full term in the Senate, quickly replenished her campaign, loaning it $5 million. In all, her campaign has about $6.6 million in the bank, ...more »

Cuts to foreclosure-prevention aid fought
Ithaca JournalFebruary 1, 2012

The agency, which oversees lending in the state, will review New York's laws governing foreclosure, he said. New York has appropriated $26 million in state funds and $21 million in federal stimulus money since the 2008-09 fiscal year for housing ...more »

Tax Law News and Stories

Audit Defence
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Rocket Lawyer Survey Reveals Top Issues for Small Businesses Are Legal and ...
MarketWatch (press release)February 1, 2012

As SMBs enter into new business contracts, hire new employees, and upgrade to new office spaces, entrepreneurs face a wider range of legal issues, like signing contracts, staying compliant with HR laws, and signing commercial leases.more »

Irs Filing & Compliance
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New Rules for Reporting Capital Gains, Losses
Fox BusinessFebruary 10, 2012

If you have capital gains and losses in 2011, then you have some new reading to do before filing your tax return. Good luck. To ensure compliance with requirements imposed by the IRS, we inform you that any US federal tax advice contained in this ...more »

Business Audit Defence
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Audit Shows New Georgia Children's Agency Serving Fewer Children
Juvenile Justice Information ExchangeFebruary 1, 2012

Hinton also found that the office was carrying over unspent money from one year to another, rather than returning it to the state treasury as required by law. Legislative budget-writers last year wound up cutting the office's appropriation by more than ...more »

Personal Irs Disputes
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'Sick Lawyer' Excuse Not Enough To Escape IRS Penalties
ForbesFebruary 9, 2012

In Freeman v. United States, Freeman was an executor who hired attorney Dennis Byrne to represent the estate. Because Byrne was to handle all administration and tax work, all mail went directly to him, including from the IRS.more »

Property Taxes
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Burlington councilors reconsider tax district
BurlingtonFreePress.comFebruary 3, 2012

Tax increment financing lets municipalities invest in improvements to infrastructure such as roads and utilities to attract development -- and then finance those improvements with a portion (the "increment") of subsequent increases in property taxes.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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US Sales Tax Burden Eased in 2011, According to Thomson Reuters ONESOURCE ...
ReutersFebruary 2, 2012

At the same time, fewer new sales taxes were created. Overall, the average US sales tax rates for states, counties and cities that levy them declined slightly in 2011. "This is good news for taxpayers, although with more than 700 sales and use tax rate ...more »

Estate Taxes & Gift Taxes
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Governor pushed to OK tax cut for low-income Iowans
DesMoinesRegister.comFebruary 1, 2012

Terry Branstad sign into law a tax cut for low-income families before Democrats will even consider his plan to cut commercial property taxes. “Hold on, Governor. Don't count your tax cuts before they've hatched,” Sen. Joe Bolkcom, D-Iowa City, ...more »

Tax Evasion Defence
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Harry Redknapp tax evasion trial: Tottenham boss to fly to Liverpool on Monday ...
MirrorFootball.co.ukFebruary 2, 2012

Redknapp has been absent from training for the last week and a half as he has been contesting two charges of cheating the public revenue at Southwark Crown Court. The Spurs boss, who denies both charges, has still managed to make it to all three of his ...more »

International Taxation
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Support for Palestinian Authority Erodes as Prices and Taxes Rise
New York TimesFebruary 1, 2012

The new tax laws are intended to increase the Palestinian Authority's revenues and reduce tax evasion, and are being coupled with austerity measures aimed at reducing expenditure, said Ghassan Khatib, a government spokesman.more »

Tax Planning
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NAPW Baltimore Local Chapter Announced: 'NEW YEAR, NEW PLANS' at their Recent ...
PR Web (press release)February 1, 2012

Linda Mathieu is a licensed Certified Public Accountant, working in the field of retirement planning for over thirty years. Linda designs and administers retirement plans helping her clients avoid tax liabilities. Linda is also a representative for ...more »

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