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

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Mandaric: tax charges are an insult to my family
The IndependentFebruary 1, 2012

The former Portsmouth chairman Milan Mandaric claimed that the tax evasion charges against him were an "insult" after 12 years in England in which he has rescued Portsmouth, Leicester City and Sheffield Wednesday from the brink of bankruptcy, ...more »

Feinstein begins to replenish campaign account
San Francisco ChronicleFebruary 1, 2012

Durkee is facing a federal mail-fraud charge. Feinstein, who is a heavy favorite to win her fourth full term in the Senate, quickly replenished her campaign, loaning it $5 million. In all, her campaign has about $6.6 million in the bank, ...more »

Tax Law News and Stories

Business Audit Defence
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Council declines to investigate Excalibur procurement
Nooga.comFebruary 1, 2012

By James Harrison A specially called meeting of the Chattanooga City Council's Personnel and Audit Review Committee ended with council members deciding not to follow up on whether bid law was bypassed for an $800000 contract awarded to Excalibur ...more »

Personal Irs Disputes
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Court: Brown must pay
Albany Democrat HeraldFebruary 15, 2012

The judge ordered Brown to pay $4.2 million to Elavon, the credit card processing subsidiary of US Bank; more than $130000 to the IRS; and $1.8 million to individual victims. Brown's lawyer says his client is “absolutely destitute.more »

Corporate Income Taxes
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Tax rituals begin again; season off to fast start
Arizona RepublicFebruary 4, 2012

4, 2012 02:12 PM The April 17 income-tax filing deadline is still more than two months away, but the rush is on. Mailboxes have been filling up with W-2 wage statements, along with other documents showing how much you paid in mortgage interest, ...more »

Property Taxes
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OP-ED: City taxes force sale of properties
Yorkdispatch.comFebruary 1, 2012

Once again we are reading about our school boards and their relentless focus on raising property taxes to support their out-of-control spending. I have two school districts that affect my financial stability: One is the York City School District and ...more »

Sales Tax & Use Tax
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Online Sales Tax Debate: Impact To Small Businesses
NuWire InvestorFebruary 2, 2012

If a business does not collect sales tax, it's the consumer's responsibility to report purchases on their state income tax and pay a "use tax," but very few people actually pay it. So the government is once again turning its eye to the issue, ...more »

Estate Taxes & Gift Taxes
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Too late to lower 2011 business taxes? Not at all
Boston.comFebruary 2, 2012

Many accountants and other tax preparers find that their small business clients overlook deductions. Sometimes it's the result of not taking advantage of tax laws that work in your favor. Poor record-keeping can also be the problem.more »

Tax Evasion Defence
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Prison time, fines for businesswoman guilty of tax evasion: SC
BusinessWorld Online EditionFebruary 3, 2012

The Supreme Court has ordered the imprisonment of a businesswoman engaged in the distribution of health products after it was found that she was guilty of tax evasion and refusing to file accurate income tax returns, the Bureau of Internal Revenue ...more »

International Taxation
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Budget to act against super-rich tax cheats
Independent OnlineFebruary 6, 2012

In his medium-term budget speech in October last year he said: “Administrative reforms will continue to focus on ensuring that all those who earn an income through employment or other economic activity pay what is due to the fiscus.more »

Tax Planning
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Liu discusses possibility of 'windfall tax'
China PostFebruary 3, 2012

The incoming Finance Minister Christina Liu yesterday said a “windfall tax” could be a measure to achieve taxation fairness, but she has no plans to raise the stock transaction tax or introduce a capital gains tax during her term.more »

Irs Filing & Compliance
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IRS Refund Delay and Real-Time Tax System
Accounting TodayFebruary 1, 2012

However, a number of taxpayers who filed early were dismayed to see the estimated time of arrival in the Where's My Refund tool on the IRS.gov site shift back a week or even two weeks, or they encountered error messages when they tried to access the ...more »

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