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

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China vs. North Korea's Refugees
Wall Street JournalMarch 1, 2012

Beijing forcibly repatriates these unfortunates without giving them a chance to apply for asylum. North Koreans who are suspected of having met Christians, South Koreans or Americans while in China are executed or shipped off to the gulag.more »

Best of IMCA Brings Leading Conference Content to a Local Level
PR Web (press release)March 1, 2012

... Inc. Investment Management Consultants Association Inc. does not discriminate in educational opportunities or practices on the basis of race, color, religion, gender, national origin, age, disability, or any other characteristic protected by law.more »

Tax Law News and Stories

Audit Defence
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Playing Without Referees at the Institute for International Sport: A Lesson in ...
The Nonprofit QuarterlyMarch 7, 2012

NPQ has also gleaned some information from an analysis of a Rhode Island state audit of the organization, as well as the IIS' 990 tax forms filed for 2007 through 2009. Taken as a whole, we see in this situation a warning to organizations dominated by ...more »

Irs Filing & Compliance
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Pacquiao may find himself in the same predicament as Mayweather with tax case
Examiner.comMarch 9, 2012

8-division boxing champ Manny Pacquiao may face up to two years in jail under Philippine law for failure to comply in submitting documents to Philippines tax officials investigating his tax returns. This, after a criminal complaint was filed against ...more »

Business Audit Defence
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Audit: La. tax breaks cut liabilities by $4.8B
CBS NewsMarch 5, 2012

From 2005 to 2010, the latest tax data available from the state revenue department, businesses claimed $3 billion in corporate income and franchise taxes, out of a total tax liability of $5.4 billion, about a 55 percent reduction.more »

Personal Irs Disputes
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IRS battling with tea party groups over tax-exempt status
HeraldNetMarch 2, 2012

While refusing to comment on specific cases, IRS officials said they are merely trying to gather enough information to decide whether groups qualify for the tax exemption. Most organizations are applying under section 501(c)(4) of the federal tax code, ...more »

Property Taxes
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Tax Break Worth Thousands to Braintree Soldiers Extended to 2014
Patch.comMarch 2, 2012

By Joseph Markman National Guard and reservists from Braintree serving overseas have saved nearly $37000 on their property taxes since a bill originating here took effect in Massachusetts four years ago. Known as the "Citizen Soldiers" bill, ...more »

Corporate Income Taxes
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State income-tax cut may be on its way
Columbus DispatchMarch 3, 2012

The home addresses of federal law-enforcement officers and probation officers would be shielded from release under separate bills pending in the Ohio House of Representatives. Law-enforcement advocates argue that the law helps protect police and others ...more »

Sales Tax & Use Tax
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Overstock.com Reports FY and Q4 2011 Results
MarketWatch (press release)March 2, 2012

Sales and marketing expense: $61.8M vs. $61.3M (1% increase); Contribution (non-GAAP measure): $117.3M vs. $128.3M (9% decrease); Net income (loss): $(19.4)M vs. $13.9M ($33.3M decrease); and Sales and marketing expense: $18.9M vs.more »

Estate Taxes & Gift Taxes
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IRS Speaks: Top 12 Tax Law Changes for 2012
AdvisorOneMarch 5, 2012

By Marlene Y. Satter, AdvisorOne Although the current tax law situation can probably reasonably be compared to a liquid rather than a solid, since at least in the minds of legislators it is quite fluid, the IRS has compiled a list of changes governing ...more »

Tax Evasion Defence
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"Tax policy can contribute to fiscal consolidation and growth"
Europolitics.infoMarch 2, 2012

In conclusions adopted on 2 March, the leaders of the 27 member states refer openly to the option of stepping up the fight against tax fraud and evasion, which "can contribute to fiscal consolidation". The text was slightly reworded from the draft ...more »

International Taxation
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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 »

Tax Planning
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Talks continue on Indiana tax, spending plans
Indianapolis Business JournalMarch 6, 2012

AP Indiana lawmakers are working toward final agreement on several tax and spending issues in the last days of this year's legislative session. House and Senate budget leaders have agreed on a plan to prohibit school districts from charging fees for ...more »

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