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

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Local charity drops Catholic affiliation, will place kids with couples in ...
WPSD Local 6February 1, 2012

In June, Illinois lawmakers made it legal for same-sex couples to enter into civil unions, meaning they have the same rights as married couples. That includes the ability to become foster parents. With the new law came the stipulation that any ...more »

Reportage: Looking to liability
Insurance AgeFebruary 1, 2012

Arguably, what the wide vista of liability reveals is that a broker's learning does not cease with their product knowledge. For Neil Grimshaw, director at Ravenhall Risk Solutions, educating clients on risks and building a long-term partnership is a ...more »

Tax Law News and Stories

Audit Defence
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Getting tax advice straight from horse's mouth
Battle Creek EnquirerFebruary 13, 2012

... an audit by the Internal Revenue Service. In his 35 years as a tax attorney, Strecker has represented horse business owners who, out of ignorance, filled out forms wrong or registered their businesses incorrectly. One client owes the IRS $400000, ...more »

Irs Filing & Compliance
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IRS Sparks Confusion on Property Upgrades MagazineFebruary 7, 2012

New IRS rules for the tax treatment of repairs or improvements to property apply to nearly every company, starting this year. But most tax executives are still unsure about how these so-called repair regs will affect their businesses, according to a ...more »

Business Audit Defence
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PHA Balks at HUD's Demand to Pay Back $726400 in Legal Fees
LoanSafeFebruary 7, 2012

by Evan Bedard on February 6, 2012 in Real Estate (Source: By Jennifer Lin and Mark Fazlollah, The Philadelphia Inquirer) - In an ongoing tug-of-war over legal bills, the Philadelphia Housing Authority is challenging the latest demand from the federal ...more »

Personal Irs Disputes
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Loose Lips Daily: Untrustworthy Edition
Washington City Paper (blog)February 2, 2012

Yet another small nonprofit group that received trust funds called the HELP Foundation, while registered with the District and IRS, spent most of its money on staff salaries and a six-figure compensation package for its executive director, IRS records ...more »

Property Taxes
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Bill Nemitz: Money didn't fall far from the trees
Press HeraldFebruary 3, 2012

For the 2011-12 tax year, that land has a total value of $943500 – of which the 10 acres in tree growth account for a paltry $4300. And how does that translate into actual property taxes? According to Georgetown's property records, Poliquin's tax bill...more »

Corporate Income Taxes
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Wynn Resorts credits strong revenue, tax gain for profits
Las Vegas Review - JournalFebruary 3, 2012

By Chris Sieroty Wynn Resorts Ltd., owner of Wynn Las Vegas, Encore and properties in Macau, on Thursday attributed revenue growth at its casinos worldwide and a tax gain for a jump in profits in the fourth quarter. Net income was $190.5 million, ...more »

Sales Tax & Use Tax
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Amazon, online retailers get 7-month delay on collecting sales tax
Bizjournals.comFebruary 1, 2012

1 that would allow sales-tax collections to flow into the state's coffers in the busy holiday retail season. Pennsylvania estimates that in 2012, the state won't get $380 million in sales and use taxes that it would have been due in e-commerce sales in ...more »

Estate Taxes & Gift Taxes
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The Same Old Story
Huffington Post (blog)February 1, 2012

The first baseline is "current law," required under terms of the Budget Act. It assumes that current law will remain unchanged. In this case, among other assumptions, that forecast contains full repeal of all "Bush Tax Cuts" of 2001 and 2003; ...more »

Tax Evasion Defence
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Probation officer charged with tax evasion
Vineland Daily JournalFebruary 3, 2012

Federal agents arrested the 43-year-old state probation officer Thursday at his Pittsgrove home on four counts of tax evasion. A federal grand jury indictment outlining the alleged scam was unsealed later in the day when Armstead made his initial ...more »

International Taxation
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Indiana University law, business students providing free tax assistance to low ...
The RepublicFebruary 1, 2012

AP BLOOMINGTON, Ind. — Indiana University law and business school students are providing free tax assistance to low-income, elderly and disabled residents. The students are participating in the Internal Revenue Service's Volunteer Income Tax ...more »

Tax Planning
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City, county differ in their approach to sales tax funds for flood protection
In-ForumFebruary 5, 2012

FARGO - Diverging priorities distinguish how Fargo and Cass County have used their sales tax revenues so far to fund permanent flood protection for the metro area: Fargo spends now; Cass County saves for later. An excavator removes trees along Fifth ...more »


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