Estate Taxes & Gift Taxes. Legal news and articles for November 28 - 29, 2011

Ernst & Young Tax Guide 2012 Now AvailableUse Standard End-of-Year Tips to Decrease 2011 Tax BillConn. sees Internet tax delayed after legal fightTax law pushes US expats to give up passportCalifornia tax board wants ideas on changing tax lawsHouse votes to cap gas taxOnline sales tax laws consideredIllinois Internet Sales Tax LawsSenate Democrats Propose Extending Payroll Tax CutBill aims to ease estate-tax burden; Measure would nix government pressure to ...Tax Breaks: Faulting Congress, Not the PhilanthropistHUFFPOST HILL - C-SPAN To Go Pay Per View For Barney Frank's FarewellTexas Supreme Court rules business tax does not violate constitutionState Franchise Tax Board wants to hear your tax ideasSB 397 Poised to Give $100 Million Handout to Wealthiest Corporations in Illinois

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Analysis: Economy's shifts erode states' tax bases
ReutersNovember 3, 2011

Users pay no tax on these deals until the retail purchase. Few states until recently gave any clue as to how much tax they thought should come from these businesses. On September 19, New York State's Department of Taxation and Finance issued a ...more »

Boost charitable tax deductions through 'booster clubs'
Business Management DailyNovember 4, 2011

There's a way you can claim a charitable tax deduction for your support. Strategy: Join the booster club for an amateur sports program. If you meet the tax law requirements, you can write off the difference between the club dues and the value of the ...more »

Estate Taxes & Gift Taxes. News and Stories

Ernst & Young Tax Guide 2012 Now Available
PR Newswire (press release)November 29, 2011

29, 2011 /PRNewswire/ -- The Ernst & Young Tax Guide 2012 is now available online and in book stores, a favorite among do-it-yourself filers and professional tax return preparers for 27 years. Packed with tax tips and information on tax law changes, ...more »

Use Standard End-of-Year Tips to Decrease 2011 Tax Bill
MarketWatch (press release)November 29, 2011

As taxpayers are left to wonder if the 2-percent payroll tax holiday will expire Dec. 31 or whether Congress will make any tax law changes as part of a plan to reduce the federal deficit, taxpayers can make the following money-saving moves now to ...more »

Conn. sees Internet tax delayed after legal fight
BusinessWeekNovember 29, 2011

The so-called Amazon tax was included in budget legislation signed in May by Gov. Dannel P. Malloy. It requires Internet retailers to collect tax on sales generated through website affiliates. Sullivan said the issue ultimately will be resolved in ...more »

Tax law pushes US expats to give up passport
swissinfo.chNovember 29, 2011

This will accelerate as the FATCA date approaches, as more and more banks will simply say it's not worth having US clients as they don't want the reporting or legal risk concerns. For investment accounts large Swiss banks have set up separate ...more »

California tax board wants ideas on changing tax laws
Fresno BeeNovember 29, 2011

The public and/or tax professionals who want to make a presentation Thursday are asked to submit a written statement prior to the hearing, including the specific tax code sections. Those statements can be submitted in advance to the FTB's Taxpayer ...more »

House votes to cap gas tax
News & ObserverNovember 29, 2011

1, holding the tax until July at its current rate of 35 cents a gallon. But the Senate hit the road without addressing the bill. A formula in state law has the tax rise or fall every six months with changes in wholesale fuel prices, and state revenue ...more »

Online sales tax laws considered
Pocono RecordNovember 29, 2011

"When sales tax isn't collected by the seller on a taxable item or service, it becomes the purchaser's responsibility — by law — to report and remit use tax," Meuser said in the statement. The state Department of Revenue estimates that online ...more »

Illinois Internet Sales Tax Laws
WIFRNovember 29, 2011

If a retailer, like Amazon, doesn't charge sales tax it's up to us to report it on our 10-40 tax form at the end of the year. And if we don't, the state claims we could get trouble. That actually became law last year. ...more »

Senate Democrats Propose Extending Payroll Tax Cut
New York TimesNovember 29, 2011

Those taxes were reduced to 4.2 percent of wages this year under a law set to expire at the end of the year. Under the Senate measure, the average working family would have close to $1500 a year more to spend, according to Senator Harry Reid of Nevada, ...more »

Bill aims to ease estate-tax burden; Measure would nix government pressure to ...
Trinidad Times IndependentNovember 29, 2011

One of the reasons for the pressure is the current estate tax law, which sets limits on how much property is exempt from estate taxes. Legislation being sponsored by a US Senator from Colorado would change the estate tax law to allow ranchers and ...more »

Tax Breaks: Faulting Congress, Not the Philanthropist
New York TimesNovember 29, 2011

Ronald S. Lauder and his family should be praised, not castigated, for their extraordinary philanthropy and support of educational, cultural and religious institutions around the corner and around the world. That the family's money was earned by “hard ...more »

HUFFPOST HILL - C-SPAN To Go Pay Per View For Barney Frank's Farewell
Huffington PostNovember 28, 2011

But I now believe that there is more to be done trying to change things from outside than by working within." Frank, a civil rights trailblazer and world record-holder for lowest center of gravity (we guess), was the first openly gay Weeble to hold ...more »

Texas Supreme Court rules business tax does not violate constitution
Austin American-Statesman (blog)November 28, 2011

The case focused on whether the franchise tax constituted an income tax for certain business partnerships, including many medical practices and law firms. Allcat Claims Service LP , a Boerne insurance adjustment firm that filed the case last summer, ...more »

State Franchise Tax Board wants to hear your tax ideas
Sacramento BeeNovember 28, 2011

"It's the perfect opportunity for the public to come forward to provide suggestions in writing or speaking on any issues relating to tax law or our procedures." He said last year's suggestions included simplifying tax forms and conforming state tax ...more »

SB 397 Poised to Give $100 Million Handout to Wealthiest Corporations in Illinois
Huffington PostNovember 28, 2011

Essentially, SB 397 makes a large portion of the revenue earned by "federally-regulated exchanges, execution platforms, and clearinghouses" immune from state taxation. More precisely, the bill taxes revenue differently depending on how it is generated. ...more »

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