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

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TEXT: S&P Assigns Bellisio Foods Inc. 'B' Issue-Level Ratings
ReutersMarch 1, 2012

We are withdrawing the ratings on the company's prior senior secured credit facilities, as well as our preliminary 'B' corporate credit rating on Bellisio Parent LLC, Bellisio Foods Inc.'s new parent company, following our review of the final legal...more »

ACCC sets out its five priorities for 2012
Clayton UtzMarch 1, 2012

ACCC Chairman Rod Simms outlined the regulator's priorities for 2012 last week, and launched its updated Compliance and Enforcement Policy. The changes in Australian Consumer Law , described by Mr Sims as "profound", offer more regulatory options to ...more »

Tax Law News and Stories

Audit Defence
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Mo. Auditor Schweich sets up committee to consider challenging US Sen. McCaskill
The RepublicMarch 7, 2012

Missouri Auditor Tom Schweich has set up a political committee to test the waters for a US Senate campaign, finally publicly confirming his interest in a race he once pledged not to enter. The IRS has approved the creation of a "Schweich for US Senate" ...more »

Irs Filing & Compliance
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IRS Releases Findings from 401(k) Plan Compliance Check Questionnaires
JD Supra (press release)March 6, 2012

by Franczek Radelet PC on 3/6/2012 The IRS recently released an interim report summarizing its findings from a “compliance check” questionnaire that was sent to a broad sampling of 401(k) plans in 2010. The questionnaire was sent to a representative ...more »

Business Audit Defence
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Bill calls for audit of death penalty costs
Columbia Daily TribuneMarch 1, 2012

Several states have done similar studies, all showing that executing people is far more expensive than putting them in prison, said Paul Litton, an associate professor at the University of Missouri School of Law. Not only does the death penalty come ...more »

Personal Irs Disputes
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IRS battling conservatives over tax-exempt status
Albany Times UnionMarch 4, 2012

ALAN FRAM, AP WASHINGTON (AP) — The Internal Revenue Service is embroiled in battles with tea party and other conservative groups who claim the government is purposely frustrating their attempts to gain tax-exempt status. The fight features instances ...more »

Property Taxes
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Update: Spartanburg Co. To Consider Residency Rules After Planning ...
News Channel 7March 2, 2012

Tax records show Hall pays the 4% legal residence tax on a property in Greenville County, but he told Spartanburg County Council that he lived at 1 Century Place in Spartanburg County. Hall also used that address to register to vote in Spartanburg ...more »

Corporate Income Taxes
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Economists critique Petroleum Income Tax Law
Myjoyonline.comMarch 2, 2012

... a tax policy advisor at the Ministry of Finance & Economic Planning, have noted that the absence of thin capitalization provisions in Ghana's Petroleum Income Tax Law (PITL) is a potential setback to government's ability to capture rent.more »

Sales Tax & Use Tax
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The Malaise Afflicting America's Malls
Wall Street JournalMarch 1, 2012

The winners—like the Cherry Creek Shopping Center—enjoy full parking lots, strong sales and high rents. It helps to be a luxury mall, because affluent shoppers were quicker than most consumers to bounce back from the recession.more »

Estate Taxes & Gift Taxes
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Tax net cast wider in effort to balance budget
Sydney Morning HeraldMarch 4, 2012

The Gillard government's obsession with raising money became palpable when powerbroker Mark Arbib, on his last day in political office, issued a media release warning of a change to the law on tax avoidance - effective immediately.more »

Tax Evasion Defence
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Former Hazelwood Ford Assembly Plant Manager Convicted of Tax Evasion
Patch.comMarch 1, 2012

By Candace Jarrett A former Ford assembly plant manager is convicted of four felony tax evasion charges for failing to report kickback payments on his federal income taxes, the United States Attorney's Office said Tuesday.more »

International Taxation
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Montco may want 5% of local tax receipts for...
The MercuryMarch 5, 2012

“But even if it is put into law, it's not retroactive and cannot go back more than two years,” said Berman. “This matter is complicated by the use of private, third-party law firms that have collected delinquent taxes for certain local taxing ...more »

Tax Planning
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How to plan for expiring tax provisions in an election year
Smart Business NetworkMarch 1, 2012

“Discuss your plans with your tax adviser and look at the tax implications in light of the expected changes. This will require more time, energy and communication than in the past with respect to tax planning for 2012 and beyond.more »

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