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

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Bill to require more transparency in ballot measure advertising moves forward
Northwest Progressive Institute Official Blog (blog)February 1, 2012

HB 2499 would require advertising for or against ballot measures in Washington to include the name and address of the entity paying for the advertising; entities that are political committees would also have to disclose the names of their top five ...more »

Federal judges troubled, baffled with Texas redistricting
San Antonio ExpressFebruary 1, 2012

Also ruled that the Legislature's maps could not be used without prior approval by Justice Department or US District Court in the District of Columbia under the Voting Rights Act. Texas could still appeal any new maps drawn by the federal courts to the ...more »

Tax Law News and Stories

Audit Defence
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Why Geezers Are Occupy Wall Street's True Enemy
Big GovernmentFebruary 2, 2012

The IRS decides to audit Grandpa, and summons him to the IRS office. The IRS auditor was not surprised when Grandpa showed up with his attorney. The auditor said, 'Well, sir, you have an extravagant lifestyle and no full-time employment, ...more »

Irs Filing & Compliance
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Deutsche Boerse-NYSE, Gupta, JC Flowers, Muni Bonds: Compliance
BusinessWeekFebruary 1, 2012

A nationwide sweep to rein in identity theft and tax-refund fraud targeted 105 people in 23 states, leading to 939 criminal charges, including 58 arrests and 10 guilty pleas, according to the Internal Revenue Service. The sweep took place last week and ...more »

Business Audit Defence
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UAE has to recover Dh1b from corruption cases
Khaleej TimesFebruary 6, 2012

DUBAI — The UAE's supreme audit institution on Sunday said that it was seeking to recover more than Dh1 billion from auditees with regard to several financial corruption cases reported in 2010. The State Audit Institution, or SAI, said in a statement ...more »

Personal Irs Disputes
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NY's AG isn't backing down from Wall Street probe
CBS NewsFebruary 10, 2012

He insisted on preserving those, despite pressure from the banks, his fellow attorneys general, the Obama administration and homeowners needing the debt relief the settlement promised. His ex-wife, attorney and political consultant Jennifer Cunningham, ...more »

Property Taxes
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Bill for Mandatory Rainwater Harvesting Introduced in Assembly
Daijiworld.comFebruary 2, 2012

The minister, who is also in charge of Urban Development portfolio, moved the Karnataka Municipalities and Certain Other Law (Amendment) Bill, 2011. The Bill envisages exemption of property tax on buildings and land belonging to ex-servicemen or member ...more »

Corporate Income Taxes
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Mitsubishi Electric Reports Tax Costs Following Revised Corporate Tax Law
Business Wire (press release)February 2, 2012

Deferred tax assets and liabilities for the first 9 months of fiscal 2012 have been re-evaluated for the reduction of corporate tax rates to be effective as of April 2012, which follows the promulgation in December 2011 of the "Act for Partial Revision ...more »

Sales Tax & Use Tax
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Your comments: Pennsylvania should reach agreements with online retailers ...
Patriot-NewsFebruary 2, 2012

This year's tax form includes a special line — line 25 — requiring citizens to pay “use tax” on items they purchased over the Internet for which no sales tax was charged. "This is totally absurd. This state should wait until it has reached agreements ...more »

Estate Taxes & Gift 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 »

Tax Evasion Defence
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US Justice Department indicts Swiss bank Wegelin
ReutersFebruary 3, 2012

The announcement, by federal prosecutors in Manhattan, represents the first time an overseas bank has been indicted by the United States for enabling tax fraud by US taxpayers. The indictment said the US government had seized more than $16 million from ...more »

International Taxation
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Biz groups file appeal vs. city tax code at DOJ
Visayan Daily StarFebruary 1, 2012

They said CO 565 amended and increased the rates of business taxes previously imposed under Ordinance 93-001, beyond the allowable tax rate adjustment ceiling as provided for by law. “This second upward adjustment, after the first upward adjustment ...more »

Tax Planning
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3 best tax prep and filing programs
CBS NewsFebruary 1, 2012

Assuming that you're planning to do your own taxes this year, here's a trio of programs that you should consider when it comes time to complete your returns: TurboTax has the best pedigree of any tax prep software available.more »

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