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

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Cedar Funding investors at varying stages of closure; ex-owner David Nilsen to ...
Monterey County HeraldMarch 31, 2012

They lost it all and are still waiting for any compensation from the still-pending bankruptcy liquidation of Cedar Fundings' tangled real estate assets. "I don't think he intended to be a criminal," Bertsch said of Nilsen. "I think he got in over his ...more »

Cyber Love Cheats And Online Scams On The Rise In Selangor
BernamaMarch 28, 2012

by Syarrizuan Abd Rashid SHAH ALAM, March 28 (Bernama) -- Crimes involving cyber love cheats and online purchase scams recorded a spike in Selangor last year although commercial crimes as a whole reduced by 15.6 per cent, in the same period.more »

Tax Law News and Stories

Audit Defence
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Two Whistleblowers File Lawsuit Against UCAN
KPBSMarch 10, 2012

... and UCAN's one-time attorney David Peffer allege UCAN executive director Michael Shames failed to have the group's books audited, did not report tens of thousands of dollars in bonuses on IRS forms and moved hundreds of thousands of dollars for a ...more »

Irs Filing & Compliance
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First Results of Competency Exam Sent Out to Tax Preparers
Bloomberg BNAMarch 12, 2012

IRS begins sending out test results to tax return preparers who have taken the new preparer competency test, but is not yet providing information about the pass-fail rates for the exams. Those who pass the test and a tax compliance check will be given ...more »

Business Audit Defence
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Lawsuit asks judge to declare Whatcom council violated open meetings law
TheNewsTribune.comMarch 1, 2012

In January, the council approved a policy on email usage that, among other things, aims to address the auditor's letter. To avoid violating meetings law with email exchanges, council members wanting to send informational emails to a quorum of the ...more »

Personal Irs Disputes
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IRS battling conservatives over tax-exempt status
Boston.comMarch 1, 2012

Most organizations are applying under section 501 (c) (4) of the federal tax code, which grants tax-exempt status to certain groups as long as they are not primarily involved in activity that could influence an election, a determination that is up to ...more »

Property Taxes
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Channahon school tax refund no sure thing
Joliet Herald NewsMarch 2, 2012

In addition, Senate Bill 2073 could cost the district around $7 million over the next five years if it becomes law, Evans and Schroeder explained. It passed the House last week. It now goes to the Senate. The bill would amend the property tax code.more »

Corporate Income Taxes
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Idaho House OKs $36 million income tax cut
Moscow-Pullman Daily NewsMarch 2, 2012

BOISE - The House on Thursday approved the governor's proposed $35.7 million income tax cut for high-earning individuals and businesses, pushing Idahoans another step closer to having more cash in their pockets at the end of the year.more »

Sales Tax & Use Tax
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Study touts success of Florida boat tax cap
Trade Only TodayMarch 1, 2012

Florida took in nearly 10 times as much sales tax revenue on sales of tax-capped boats as the state projected in the first year of implementation of the Maritime Full Employment Act, which was signed in 2010. The new law puts an $18000 sales-and-use...more »

Estate Taxes & Gift Taxes
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Tax tips: IRA rules, retirement income and more
The TennesseanMarch 11, 2012

In your particular situation, you do not turn 70½ until tax year 2012. Therefore, you are eligible to make a contribution to a Traditional IRA in 2011 provided you meet the other contribution rules, ie, not active participant in an employer-maintained ...more »

Tax Evasion Defence
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U.K. Revenue Department Increased Tax Collection, Auditors Say
BloombergMarch 1, 2012

Britain's Revenue and Customs office raised 4.3 billion pounds ($6.9 billion) from programs aimed at preventing tax evasion in the five years through 2011, the public spending watchdog said. The National Audit Office said in a report today that the ...more »

International Taxation
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Lawmakers aim for stricter handgun rules
Jacksonville Journal-CourierMarch 2, 2012

State lawmakers appear poised to enact a law that would require a statewide registration for handguns and place a tax on ammunition, despite opposition from gun-rights advocates. "The bottom line is we're talking about a penny on a bullet," said state ...more »

Tax Planning
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Navigating Tax Planning Strategies With the ING Retirement Coach
Huffington PostMarch 6, 2012

While "death and taxes" are said to be the only certainties in life, tax planning isn't always that straight forward. Especially in light of the still wavering economy, there is more of a need than ever to take advantage of various tax strategies, ...more »

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