Thursday, July 25, 2013

Online Taxes News Links for 7-25-13


Lots of news in taxes today, if you want your news posted here or you have some tax advice, please send me a message, a comment, or on our twitter account.

Japan Seen Needing $50 Billion to Cushion Sales-Tax Rise
Japanese Prime Minister Shinzo Abe, now sitting on the biggest parliamentary majority in six years, faces the threat of political dissent within months as a planned sales-tax rise threatens to arrest an economic rebound. The world's third-largest ...
 
Louisiana To Offer 'Fresh Start' Tax Amnesty Program
That's how many of my tax compliance clients feel. They never start out to get behind on their taxes. It usually starts with a little delay ? maybe an illness or a personal issue. And then the delay gets bigger. And bigger. And at some point, the ...
 
Fraternities Lobby for Tax Break Without Hazing Penalties
Besides pushing the tax bill, FratPAC, as the Fraternity and Sorority Political Action Committee calls itself on its Twitter page, has helped dissuade U.S. Representative Frederica Wilson from filing federal anti-hazing legislation. Wilson, a Democrat ...
 
Dell Considered Novel Tax Strategy in Buyout
Joshua Lott/ReutersDell rejected a structure that would have deemed the company a partnership for United States tax purposes. In the proposed buyout of Dell by its founder, the company considered but rejected as too risky a novel strategy that tweaks ...
IRS pursuing 'stateless income' tax enforcement: official
... Internal Revenue Service is pursuing tax enforcement cases against companies over the issue of "stateless income," a senior agency official said on Wednesday in a reference to corporate profits that are not taxed by any country. Erik Corwin, an IRS ...
 
Internal Revenue Service scandal ties to Obama appointee
Internal Revenue Service scandal ties to Obama appointee. Posted: July 23, 2013 - 4:15pm. Advertisement. Does anyone recall when the Internal Revenue Service (IRS) scandal broke? Fingers were pointed at some rebel agents in the Cincinnati office.
 
US court blocks Internal Revenue Service's bid to help Indian IT
MUMBAI: The US Internal Revenue Service's (IRS) efforts to help Indian tax authorities uncover fincancial information of a US resident, alleged to have evaded tax in India, have hit a road block. A US district court has recently quashed summons issued ...
 
Courtney Love In the Hole With the IRS, Owes $260K in Back Taxes
The Hole singer reportedly owes the Internal Revenue Service more than $260,000 in unpaid back taxes. According to TMZ, the IRS filed a tax lien against Love on July 11, claiming that America's Sweetheart needs to settle outstanding debts from 2009 and ...
5 from Passaic charged in $2.5M tax refund scam
Perpetrators of such refund scams typically use Social Security numbers and other personal identifying information obtained from unwitting residents of Puerto Rico because they are not required to pay income tax unless they work for U.S.-based ...
 
IRS, States Call on IBM, LexisNexis, SAS to Fight Tax Fraud
A Miami law-office employee admitted in February he had accessed his firm's LexisNexis account and stolen thousands of Social Security numbers of prison inmates?prime targets for tax-fraud identity theft because they are unlikely to file returns?and ...
 
Florida's 'First Lady' of tax refund fraud gets 21 years in prison after ...
Those involved in the tax fraud operation used stolen Social Security numbers to file returns, according to the Global Dispatch. The scam meant that ordinary taxpayers had to wait for up to a year to receive their refunds. Rashia Wilson. Sentenced ...
 
IRS to Biz Owners: Beware of Payroll Tax Scammers
IRS to Biz Owners: Beware of Payroll Tax Scammers The Internal Revenue Service wants owners of small businesses ? and just about any sized business ? to watch out for unscrupulous third-party providers who are entrusted with collecting and timely ...
Sales Tax Changes and Taxability Issues Prompt New Industry Tax Gateway on ...
Internet sales tax is a hot topic these days, but unfortunately, sales tax changes and product taxability challenges are not new to most businesses, especially those in industries with particularly complex or rapidly changing sales tax regulations ...
 
Still plenty of time to seek homestead exemption before property-tax changes
Franklin County residents now have until the end of the year to apply for a homestead tax exemption, before qualifications change under the new state-budget law, the auditor's office said this week. The deadline was extended from June 3 to Dec. 31 to ...
 
City Leaders Debate Arts Tax Changes
Portland City Council weighed options Wednesday for altering the city's arts tax. Voters last November approved a $35 per household tax supporting arts education and arts organizations. The tax is subject to several legal challenges, but the city's ...
 
Pennsylvania Enacts "Delaware Loophole" Closer And Other Significant Tax ...
The new law reduces the tax rate from 1.25% to 0.89% and changes the tax base by including only bank equity capital, not total equity capital as under present law. Further, three-factor apportionment based on a bank's payroll, receipts, and deposits is ...
McCrory signs new tax law
Gov. Pat McCrory, flanked by members of the N.C. General Assembly including Speaker of the House Thom Tillis, right, jokes before he signs the HB 998 for Tax Reform in the ballroom at the Executive Mansion in Raleigh, N.C. on Tuesday, July 23, 2013.
 
Weigh in on state tax law
Sen. Galen Hadley, the chairman of the Tax Modernization Committee, announced on Tuesday that several public meetings will be held around the state to discuss the possibility. Those meetings include a Sept. 24 date at North Platte Community College ...
 
CJEU: Danish Exit Taxation Is Contrary To EU Law
In its judgment of 18 July 2013 the Court of Justice of the European Union (CJEU) held that the Danish rules on exit taxation of cross-border transfers of assets within a company are contrary to EU law. New Danish legislation must be expected ...
 
Debate: How should tax law change?
Baucus says any tax break that survives his initial cut has to help grow the economy, make the tax code fairer, or effectively promote an important policy objective. Although the last of these might be too broad, Baucus' approach is the best, and ... 
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