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

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Southaven investigation halts city business
WMC-TVFebruary 1, 2012

SOUTHAVEN, MS- (WMC-TV) – After saying he would not step down, Southaven Mayor Gregg Davis was at work Tuesday while the investigation into his spending has put all city business on hold. When state and federal law enforcement agencies honed in on ...more »

WA Govt funds Telstra mobile expansion
DelimiterFebruary 1, 2012

news The nation's largest telco Telstra the Western Australian State Government's Regional Mobile Communication Project (RMCP) contract, a deal which will see Telstra receive $39.2 million from the state government and in return provide a value return ...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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State Street to Clear IRS Swaps Through SwapClear
Advanced TradingFebruary 13, 2012

Clearnet's derivatives clearing service in order to comply with new regulations for over-the-counter swaps trades. Pending regulatory approval, the firm said in June it will become a member of SwapClear, LCH.Clearnet's clearinghouse for OTC swaps.more »

Business Audit Defence
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Chinese firm breached Ontario securities law: OSC
Financial PostFebruary 3, 2012

Zungui's shares plummeted 75% last year after Ernst & Young stunned investors by suspending audit procedures. In the OSC decision, rendered Thursday but made public on Friday, the Commission found that Yanda Cai “engaged in conduct contrary to the ...more »

Personal Irs Disputes
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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 »

Property Taxes
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Strictly Legal: Intellectual property field is challenging
Montreal GazetteFebruary 3, 2012

As close to 100 Montreal lawyers gathered at Chabad of the Town for a law symposium featuring two sitting judges, a lawyer and a rabbi pronouncing on intellectual property law learned this past Tuesday, the whole field of law that deals with the ...more »

Corporate Income Taxes
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Opinion today: Reason half of Americans pay no income taxes - they're poor
Syracuse.comFebruary 3, 2012

John DeFrancisco's comment on how half of Americans pay no income tax in the Readers' Page of today's Post-Standard. Here is his letter: “Half of Americans pay no income taxes.” I remain dumbfounded how this mantra — often appearing in the Readers' ...more »

Sales Tax & Use Tax
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Taxpayers must pay their share of the 'use tax' PERSONAL FINANCE Fred Croop
Wilkes Barre Times-LeaderFebruary 5, 2012

Oftentimes, online stores offer consumers the best price because they do not routinely add the sales tax to the purchase price, such as the 6 percent levy for Pennsylvania residents. The state of Pennsylvania is working to end the online tax holiday by ...more »

Estate Taxes & Gift Taxes
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Loopholes for wealthy weaken fairness of income tax system
TheNewsTribune.comFebruary 1, 2012

This provision in the income tax code explains why Romney, Warren Buffett and most other super-rich Americans pay less as a share of their income than do many working Americans. Combining income taxes and payroll taxes, the super-rich pay about the ...more »

Tax Evasion Defence
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Tax evasion fine for rimouski firm
Montreal GazetteFebruary 2, 2012

R. Croteau Rimouski Inc., operator of L'Aubainerie clothing stores in Rimouski, Matane, New Richmond, Baie-Comeau and Sept Îles, has been fined $41896 after being convicted of tax evasion. Canada Revenue Agency said the company claimed inadmissible ...more »

International Taxation
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SEC's Owner Threshold, MF Global Hearing, Tax Plan: Compliance
BusinessWeekFebruary 2, 2012

Though the committee also considered advising the SEC to consider allowing crowdfunding -- the soliciting and pooling of small investments, often online -- it postponed that vote because of concerns about limiting possible fraud.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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