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

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Judge says Occupy DC demonstrators must get notice before any eviction; feds ...
Washington PostFebruary 1, 2012

Mayor Vincent Gray and DC health officials have expressed concern about a rat infestation at McPherson Square and other sanitation problems, with the mayor suggesting that the demonstrators relocate to Freedom Plaza, another federal space that's been ...more »

Letter: Strict gun laws make citizens safer
Knoxville News SentinelFebruary 1, 2012

If the writer is interested in facts, then he would have to admit that New York City's strict gun laws have actually kept the city's residents safer than in places with laxer regulations. New York and neighboring New Jersey have among the lowest rates ...more »

Tax Law News and Stories

Audit Defence
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Tax Trivia Giveaway #7: Bank Secrecy Act
ForbesFebruary 7, 2012

While at law school, I interned at the estates attorney division of the IRS. At IRS, I participated in the review and audit of federal estate tax returns. I even took the lead on a successful audit. At audit, opposing counsel read my report, ...more »

Irs Filing & Compliance
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IRS Needs to Improve Controls over Criminal Restitution Payments
Accounting TodayFebruary 2, 2012

By Michael Cohn, Accounting Today The Internal Revenue Service does not have effective internal controls in place to make sure that defendants who have been convicted of tax-related crimes comply with the conditions of their probation and restitution, ...more »

Business Audit Defence
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Audit says Clifton-Fine School carried substantial surpluses while raising taxes
North Country NowFebruary 3, 2012

The audit, by the state Comptroller's Office, says that the problem began as “District officials consistently overestimated expenditures for the past five years by a total of $4.5 million. As a result, the district had operating surpluses totaling $2.3 ...more »

Personal Irs Disputes
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Swiss Bank Wegelin Charged in US With Aiding Tax Evasion
BusinessWeekFebruary 3, 2012

“Wegelin Bank aided and abetted US taxpayers who were in flagrant violation of the tax code,” Manhattan US Attorney Preet Bharara said in a statement. The US and Switzerland are in talks to resolve a US probe of offshore tax evasion.more »

Property Taxes
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Thompson & Knight Names Emily Parker as Managing Partner
MarketWatch (press release)February 1, 2012

In response to the Tax Court's decision in that case and because of concerns about the potential loss of revenue resulting from the ruling, the US Congress amended the underlying law. "I'm honored to serve the clients and attorneys of Thompson & Knight ...more »

Corporate Income Taxes
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Budget 2012: Yashwant Sinha panel to finalise DTC report today
Economic TimesFebruary 9, 2012

NEW DELHI: BJP leader Yashwant Sinha-headed parliamentary standing committee on finance will meet on Friday to finalise its report on the Direct Taxes Code Bill, which seeks to replace the 60-year-old income tax law. "Tomorrow's meeting could take a ...more »

Sales Tax & Use Tax
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Franchot calls raising Maryland tax on gas 'crushing blow'
Washington TimesFebruary 8, 2012

Mr. O'Malley, a Democrat, said last week that he would support phasing in the state's 6 percent sales tax on gas, a plan he says will help pay for needed road and transit improvements. However, Mr. Franchot warned that any tax increases during this ...more »

Estate Taxes & Gift Taxes
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IRS Tax Tips 4: Tax Law Changes for 2011 Federal Tax Returns
The Friday FlyerFebruary 9, 2012

The IRS reminds taxpayers that, before you file your 2011 federal income tax return in 2012, you should be aware of a few important tax changes that took effect in 2011. Check www.IRS.gov before you file for updates on any new legislation that may ...more »

Tax Evasion Defence
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IT notice to diesel don over tax evasion notice to Ali for over 8cr IT dues
Times of IndiaFebruary 1, 2012

The income tax department has issued a notice to him for evading tax to the tune of Rs 8.36 crore. The IT investigating cell has issued a notice to Mohammed Ali's firm, Aqdas Maritime Agency, has been slapped with a notice by the IT investigating cell ...more »

International Taxation
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International holding structure and the income tax law: Ramifications of ...
Business Recorder (blog)February 1, 2012

It is a capital gain within the jurisdiction where the property is located, that is India, and hence the transaction is liable to be taxed in India. M/s Vodafone pleaded that being foreign entity having no presence in India, not even a branch office, ...more »

Tax Planning
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Retirees need to avoid pitfalls in planning
Cherry Hill Courier PostFebruary 5, 2012

Failing to create a financial or estate plan isnít just a matter of missing out on investment opportunities or tax advantages. It can get you in trouble later in retirement when youíre no longer at the top of your game mentally.more »

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