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

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West Seventh Bustling With Construction
NBC 5 Dallas-Fort WorthSeptember 1, 2012

"We felt this neighborhood had a ton of potential and that we couldn't build it all, and that the neighborhood would continue to grow organically and continue to see the successes of the commercial and resident development, and we're just one piece of ...more »

State raids Envy nightclub in tax fraud investigation
Minneapolis Star TribuneSeptember 1, 2012

A popular nightclub blamed for contributing to late-night crime in downtown Minneapolis drew further scrutiny Friday when state officials revealed they had raided the business looking for evidence of tax fraud. A dozen Minnesota Department of Revenue ...more »

Tax Law News and Stories

Audit Defence
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CORRECTED-Ex-IRS examiner charged with naming whistleblower
ReutersSeptember 28, 2012

WASHINGTON, Sept 27 (Reuters) - A former U.S. Internal Revenue Service examiner was arrested on Thursday and charged with exposing an IRS whistleblower and interfering with the audit of an international bank, said the U.S. Attorney for the Southern ...more »

Irs Filing & Compliance
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Taxes for Expats Informs Americans Living Abroad About the New IRS Program ...
PR Web (press release)September 4, 2012

The new IRS program provides welcome relief for American expatriates who've fallen behind on their US tax filing. Unlike past programs, this program makes it clear that by filing now they will not be subject to fines or penalties. Given that most ...more »

Business Audit Defence
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Audit body takes action on 30 cases of govt fund misuse
Times of OmanSeptember 4, 2012

Muscat: The State Financial and Administrative Audit Institution (SFAAI) has referred more than 30 cases to the Prosecutor for investigation as mandated by Article 23 of the State's Financial and Administrative Audit Law issued by Royal Decree No. 111 ...more »

Personal Irs Disputes
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Private Equity Tax Strategy Probed By IRS 5 Years Ago But No Formal Action ...
Huffington PostSeptember 4, 2012

"The IRS hasn't issued any notice (about the 2007 inquiry) and it is kind of a puzzle to me why they haven't," said Victor Fleischer, a law professor at the University of Colorado, among those who first highlighted the tax technique. "It has been this ...more »

Property Taxes
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Rep. Tom Conroy: Most significant new state laws
Wicked LocalSeptember 6, 2012

Sudbury Senior Tax Relief Law – Provides property tax relief to seniors in Sudbury, a law that could be finalized with approval by the citizens of Sudbury later this year (authored by a Sudbury resident). Electric Utility Oversight Law of 2012 ...more »

Corporate Income Taxes
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No royalty tax on income from sale of in-built software
Business StandardSeptember 16, 2012

The Delhi High Court has ruled that income from sale of software embedded in hardware was not taxable as royalty despite the retrospective amendment to the Income Tax Act, as the changes cannot override a tax treaty. Deciding on a case between the ...more »

Sales Tax & Use Tax
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Newton County elected officials hold off on energy tax
newtoncitizenSeptember 19, 2012

The General Assembly enacted a tax reform package earlier this year that included a sales and use tax exemption for energy used in the manufacturing process. The exemption has a four-year phase-in at a 25 percent rate, with full phase-in by 2016.more »

Estate Taxes & Gift Taxes
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Shome panel calls for Rs 3-cr tax benefit threshold
Hindu Business LineSeptember 2, 2012

Shome Commiittee has also suggested an amendment to the income-tax law to provide that only arrangements which have the main purpose (and not one of the main purpose) of obtaining tax benefit should be covered under GAAR. Amendment to I-T law ...more »

Tax Evasion Defence
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I-T dept investigates tax evasion by commodity brokers
Business StandardSeptember 3, 2012

Smelling a rat in the tax evasion complaints against commodity brokers, the income tax (I-T) department has sought details of client code modification (CCM) done by brokers from commodity futures exchanges. The I-T department is investigating the ...more »

International Taxation
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State aims to toughen labor wage, tax laws
Boston GlobeSeptember 12, 2012

The state Office of Labor and Workforce Development is considering legislative changes and other remedies to hold companies liable in cases where their contractors are found to be underpaying employees or breaking other wage laws. The changes would ...more »

Tax Planning
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PQ plans to tax rich to pay for health care
Sun News NetworkSeptember 22, 2012

Shirley Bishop, spokeswoman for the Premier`s office, told QMI Agency Saturday that the government plans to create two personal income tax brackets to pay for the cuts, one for those making over $130,000 and the second for incomes higher than $250,000.more »

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