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

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Attorney general opinion clarifies Harbor Police authority
Houma CourierFebruary 1, 2012

The Louisiana Attorney General's office has clarified a 2011 decision which suggested the authority of Port Fourchon's Harbor Police Department is not recognized by the state. The confusion began last year, when the port's private Harbor Police...more »

SPORTCHECK: Not properly enforced!
New Straits TimesFebruary 1, 2012

"Not just athletes, but officials who are investigated and found guilty of supplying or administering the drugs can also face bans from their sports," Dr Jegathesan clarified. "To legislate a law, it would mean we are taking it a step further.more »

Tax Law News and Stories

Audit Defence
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Identity Theft Crackdown
KMASFebruary 2, 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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Lawmakers Introduce Bill to Limit 1099-K 'Overreach'
Accounting TodayFebruary 7, 2012

“For small companies, the cost of tax compliance is already $1584 a year,” he said. “If not overturned, this IRS requirement will undoubtedly add to that cost. It is wrong to weigh down the very folks we are asking to put Americans back to work and ...more »

Business Audit Defence
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Pressure mounting for Lion Air audit
Jakarta PostFebruary 6, 2012

“The regulator needs to audit the management of Lion Air in order to find the gaps in the management and fix them immediately,” professor of aviation law from Tarumanegara University Kemis Martono said on Sunday. He applauded the collaboration between ...more »

Personal Irs Disputes
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IRS's New Amnesty Program for Undisclosed Offshore Account Holders Comes at a ...
PR Web (press release)February 6, 2012

IRS launches a third amnesty initiative, the 2012 Offshore Voluntary Disclosure Program. Kevin E. Thorn encourages US taxpayers with undisclosed offshore accounts to come into compliance in light of new developments between US authorities and Swiss ...more »

Property Taxes
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Duluth city councilors want to turn street light fee into a tax
Duluth News TribuneFebruary 1, 2012

... Council recently voted to request the Minnesota Legislature consider a change in state law that would enable the community to replace its current street light fee system with a street light tax, which would essentially be a dedicated property tax.more »

Corporate Income Taxes
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The Credit We Love to Hate: The Earned Income Tax Credit (EITC)
ForbesFebruary 2, 2012

So maybe it wasn't so much of a surprise to anyone that I managed to miss Earned Income Tax Credit Awareness Day at IRS. Yes, there is one. And yes, it was last week (January 27, to be exact). And no, I don't want to think about how much money IRS...more »

Sales Tax & Use Tax
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Pa.'s use tax fails constitutional test
Lebanon Daily NewsFebruary 8, 2012

It's your PA-40 tax form. There's a special treat there from Gov. Tom Corbett and the Department of Revenue requiring you to report your Internet and out-of-state purchases. The "use tax" is the counterpart of the sales tax as it applies to items or ...more »

Estate Taxes & Gift Taxes
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Senate transportation bill would restore commuter tax benefit
The Hill (blog)February 9, 2012

The House version of the transportation bill, the American Energy and Infrastructure Act (HR 7), would eliminate a trust fund for mass transit and redirect 2.86 cents of the federal gas tax that traditionally goes toward public transportation to ...more »

Tax Evasion Defence
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What Really Happened To The Oldest Bank in Switzerland?
mi2gFebruary 1, 2012

By threatening Wegelin bank with lawsuits, investigations, Internal Revenue Service (IRS) penalties and criminal charges levied personally against the bank directors, the US government succeeded in its mission. The scare tactics were enough to chase ...more »

International Taxation
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A Golden Headache
Financial-Planning.comFebruary 1, 2012

Investors who benefit from rising gold prices may find unexpected pitfalls in the tax code. By Donald Jay Korn Given the billions of dollars poured into gold investments over the past decade, most financial planners have clients with exposure to the ...more »

Tax Planning
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Giving It Away
Financial-Planning.comFebruary 1, 2012

By Deena Katz Charitable tax planning for clients may peak in the later months of the year, but it is really a year-round activity, and the first quarter is not too soon to start thinking about it. Texas Tech University recently approved a new online ...more »

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