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

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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 »

Construction starts on Irvine's Great Park development
Los Angeles TimesFebruary 1, 2012

The development sits on the site of the former El Toro Marine Corps Air Station. Irvine approved the first phase of the construction last year. "With today's groundbreaking, we are moving forward with the first phase of Great Park Neighborhoods.more »

Tax Law News and Stories

Audit Defence
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IRS Announces Pilot Program for Large Companies and Their Retirement Plans
JD Supra (press release)February 7, 2012

The IRS hopes that after reviewing these procedures, etc., it can then use datadriven factors to surgically target a company's compliance weaknesses. Based on recent exam and survey activities, it seems large companies confront these types of ...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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Regulator lays down the law ahead of profit season
Sydney Morning HeraldFebruary 1, 2012

More companies are using phrases such as ''underlying profit'', ''normalised profit'' or ''profit before significant items'' to report their performance, especially in non-audited market announcements, instead of sticking to methods set out in the ...more »

Personal Irs Disputes
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Stanford Used 'Slush Fund' at SocGen for Bribes, Ex-CFO Says
BusinessWeekFebruary 4, 2012

When Assistant US Attorney William Stellmach asked Davis how much of this money Stanford ultimately paid back, Davis replied, “I don't believe he actually repaid any of the money.” Stanford, 61, denies all wrongdoing in connection with what the ...more »

Property Taxes
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Legislator wants St. Louis County tax bills to be mailed earlier
STLtoday.comFebruary 3, 2012

On Thursday, Leung said Lembke's proposal would be difficult to fulfill because of a change in state law that took effect in 2009 requiring the county to give taxpayers each spring an estimate of the property tax bill they receive in the fall.more »

Corporate Income Taxes
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LDR: School expenses eligible for state income tax deductions
Sulphur Southwest Daily NewsFebruary 2, 2012

By Anonymous The Louisiana Department of Revenue reminds families that education expenses paid during the 2011 tax year may be eligible for Louisiana state income tax deductions. The Louisiana School Tuition and Expense Tax Deductions apply to tuition, ...more »

Sales Tax & Use Tax
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KPMG Acquires Thomson Reuters' US Indirect Tax Managed Services Business
Accounting TodayFebruary 2, 2012

The sale includes Thomson Reuters' Sales & Use Tax compliance operations, the Managed Tax Services operations (formerly known under the Sabrix brand), Business License Management, Telcom Tax Rating, TCS, Exemption Certificate Management, ...more »

Estate Taxes & Gift Taxes
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Private-Equity Lobbying Protected Romney's Tax Benefit of Carried Interest
BloombergFebruary 7, 2012

Blackstone Group LP alone spent $5 million in 2011 lobbying Congress on issues including the tax treatment of carried interest. “If anything preserves the status quo, it will be the very heavy lobbying campaign,” said Edward Kleinbard, a law professor ...more »

Tax Evasion Defence
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Ex-South Florida politician to plead guilty to tax charges in federal ...
MiamiHerald.comFebruary 7, 2012

The reason: So that Dawson, a Democrat, would not oppose legislation supporting the medical profession. In July, a Miami federal grand jury charged Dawson with failing to pay income taxes of $11889 on $92324 in income for 2004 and $12966 on $102896 in ...more »

International Taxation
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State urging online buyers to pay tax
Milwaukee Journal SentinelFebruary 5, 2012

"The real mission is to help make sure (taxpayers) understand tax law and to remind taxpayers about their responsibility to pay the use tax," said Jennifer Western, executive assistant at the Department of Revenue. Western also said the goal of the ...more »

Tax Planning
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Anthony Westbury: Tax collector is calling it quits
TCPalmFebruary 5, 2012

So now, after more than a year of rumors and speculation, we know what the future holds for the three-term St. Lucie County tax collector. He'll retire Dec. 31. After that, he's planning on using his travel trailer to visit his twin grandsons in Texas ...more »

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The ABA Checklist for Family Heirs: A Guide to Family History, Financial Plans and Final WishesThe ABA Checklist for Family Heirs: A Guide to Family History, Financial Plans and Final Wishes
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