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

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Iran Suffers 'Crippling Effect' of Trade, Banking Sanctions
San Francisco ChronicleMarch 1, 2012

An array of restrictions on banking, shipping, insurance, ports, trade, commodities and energy transactions and ventures have severed or complicated many of Iran's commercial ties to the outside world. US officials such as Secretary of State Hillary ...more »

Judge overturns Culpeper murder conviction; Albemarle sheriff 'opened the door ...
The Daily ProgressMarch 1, 2012

“Having reviewed the voluminous record in this case, the court is disturbed by the miscarriage of justice that occurred in this case and finds that Hash's trial is an example of an 'extreme malfunction in the state criminal justice system,” concluded ...more »

Tax Law News and Stories

Audit Defence
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Former Officers of New Mexico-Based Defense Contractor Charged in Fraud and ...
7thSpace Interactive (press release)March 2, 2012

“The indictment alleges that the defendants flagrantly enriched themselves at the expense of the Iraqi people—the very people they were there to help—and American taxpayers,” said United States Attorney Gonzales. “These charges highlight the federal ...more »

Irs Filing & Compliance
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Property Compliance News Briefs
Novogradac Company LLPMarch 1, 2012

The Internal Revenue Service (IRS) issued Notice 2012-18 to inform state housing finance agencies (HFA) participating in the Physical Inspections Pilot Program of an alternate method of satisfying certain requirements under Section 42.more »

Business Audit Defence
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Springwater gets another strike from state auditor
Dansville-Genesee Country Express (blog)March 1, 2012

The audit outlined a timeline of payments related to the property. On Dec. 17, 2008, the town's former supervisor, Nori Buckley, paid $6500. However, there is no record of approval in an open meeting, as required by state law.more »

Personal Irs Disputes
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IRS battling conservatives over tax-exempt status
WBRCMarch 1, 2012

"These tea party groups, a lot of their material makes them look and sound like a political party," said Marcus S. Owens, a lawyer who advises tax-exempt organizations and who spent a decade heading the IRS division that oversees such groups.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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Budget 2012 may enhance income tax deduction limit: ICRA
Economic TimesMarch 3, 2012

NEW DELHI: Direct tax collections may fall short of the budget expectation for 2011-12 with moderating economic growth. The forthcoming budget is likely to enhance income tax deduction limit. The Union Budget for 2011-12 forecast a 20% expansion of ...more »

Sales Tax & Use Tax
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Top 500 tax delinquencies include 23 in local area
Contra Costa TimesMarch 3, 2012

By Will Bigham, Staff Writer More than 20 local people and businesses were identified Friday in a list of the top 500 sales and use tax delinquencies released by the state Board of Equalization. The delinquencies each exceed $100000, and together total ...more »

Estate Taxes & Gift Taxes
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IRS battling conservatives over tax-exempt status
The Associated PressMarch 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 »

Tax Evasion Defence
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It's time to hold Ken Livingstone to account
The Guardian (blog)March 4, 2012

The FBI could only jail Al Capone for tax evasion. It would have preferred to have put him in the dock for racketeering and organising the St Valentine's Day massacre. But the cops had to settle for charging him with not paying taxes on the proceeds of ...more »

International Taxation
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No Taxes for Facebook? Senator Cries Foul
CNBC.comMarch 1, 2012

The Michigan Democrat, who introduced a bill in February that aims to cut corporate tax loopholes, pointed to Facebook as the epitome of what's wrong with the corporate tax code in the United States in a speech on the Senate floor Wednesday.more »

Tax Planning
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Oyston: £11m payment was `tax planning'
Yahoo! Eurosport UKMarch 6, 2012

Blackpool chairman Karl Oyston has shed further light on the £11million payment made by the club to one of his father's companies by explaining it came as part of tax planning. The Seasiders recorded a £32m budget surplus on the back of their Barclays ...more »

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