Tax Law News. Crime Stories, Law on News and Legal Publications in May, 2016

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Models of Press Freedom
Inter Press ServiceMay 4, 2016

Anders Chydenius, an enlightened thinker and politician of the Kingdom of Sweden, had struggled against secret and unaccountable government power, as he urged for the freedom of press and information and right of access to public records law.more »

Aéropostale Files for Bankruptcy Protection as Charges Fly
Wall Street JournalMay 4, 2016

Aéropostale and Sycamore have been feuding for some time, and on Wednesday lawyers for Aéropostale said in court filings that they suspect Sycamore engaged in moves designed to drive Aéropostale into bankruptcy and force it to liquidate.more »

Tax Law News and Stories

Business Audit Defence
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Audit: Illinois Lottery broke law to get around budget impasse
WGN-TVMay 21, 2016

BELLEVILLE, Ill. — The state's auditor general says the Illinois Lottery violated state finance law by prepaying $20 million to ensure it could participate in future multi-state lottery games even without a state budget. The Belleville News-Democrat ...more »

Personal Irs Disputes
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The Trump Tax Three-Step
The American LawyerMay 27, 2016

If the issue is the continuing IRS audit, why not release tax returns for 2002 through 2008? According to Trump's tax lawyers at Morgan & Lewis & Bockius, those audits are completed. Lewandowski's answer: “It's like what Bernie Sanders said, there's ...more »

Estate Taxes & Gift Taxes
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Tax Law Update: June 2016
WealthManagement.comMay 19, 2016

The Tax Court analyzed both Arizona state law and federal law in reaching its decision. First, the court used state law to determine what rights Dennis had in the trust. The court categorized the trust as a “discretionary support trust,” whereby the ...more »

Sales Tax & Use Tax
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South Dakota sales tax increases on June 1
Daily RepublicMay 23, 2016

Municipal sales taxes are not affected by this tax increase. "During the planning and implementation for the new sales tax rate, our goal has been to make the transition as easy as possible for taxpayers," said Department of Revenue Secretary Andy Gerlach.more »

Tax Planning
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Asset Protection or Abusive Tax Planning?
WealthManagement.comMay 17, 2016

“Never let a creditor get to your asset, no matter how bad your mistake.” Upon this ideal, former Texas billionaire, Sam Wyly, and his now deceased brother, Charles, created an “enormously complex” arrangement of offshore trusts and corporations. The ...more »

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