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While the existing wealth tax law provides a threshold limit of Rs 15 lakh ( enhanced to Rs 30 lakh by the Finance Act, 2009) and imposes tax at 1% rate, the code exempts net wealth up to Rs 50 crore and prescribes a rate of 0. 25% on the value of net wealth in excess thereof. (India Times)
Cellcom Israel Announces Second Quarter 2009 Results and Strengthens its Position as the Market Leader Aug 17, 2009
According to the Israeli tax law, the Company will deduct at source 20% of the dividend amount payable to each shareholder, as aforesaid, subject to applicable exemptions. The dividend per share that the Company will pay for the second quarter of 2009 does not reflect the level of dividends that will be paid for future quarterly periods, which can change at any time in accordance with the Company's dividend policy. (PR Newswire)
Americans' appetite for debt did them in Aug 17, 2009
And a 1998 tax law increasing tax-free capital gains on residences to $500,000 per couple "proved to be an irresistible lure for those who thought they could flip their homes for a profit after two years.". Debt cravings turned to crisis this decade, Geisst writes, as lenders packaged debts and cleared them off their books; regulators relied on bond rating companies to do their work; mortgage originations hit a record $4 trillion (more than 13% were subprime); and bank card customers used... (USA Today -- Money)
Mass. stores can’t get, or give, break on sales tax Aug 16, 2009
State tax law reads, in part, that it is unlawful for any vendor to advertise or hold out or state to the public or any customer, directly or indirectly, that the tax or any part therefore will be assumed or absorbed by the vendor. The obscure provision is suddenly relevant this year, because state leaders did away with the sales-tax holiday, saying the Commonwealth needs the tax revenue. (Boston Globe)
Saturday 'Town Hall' meeting on Maine's new taxes Aug 15, 2009
There may be very modest reductions in income tax rates, but you will be taxed on much more of your income than before. "And you also will be taxed every time you hire a disc jockey for a party, moor a boat or even get your shoes repaired. The law throws a sales tax net over the whole state.". (Seacoast New Hampshire)
Feds Raid Two Los Angeles Pot Dispensaries Aug 14, 2009
Didn't California just recently and gleefully pass a Marijuana tax law and began issuing licenses for Marijuana dispensaries ... Didn't California just recently and gleefully pass a Marijuana tax law and began issuing licenses for Marijuana dispensaries. (CBS News)
UBS off the hook, but is Swiss banking? Aug 13, 2009
"Everybody will be focusing on the number of accounts that will be handed over, but the more important issue is the criteria that the IRS and the Swiss have agreed upon that would prompt disclosure," US tax lawyer Scott Michel of Caplin and Drysdale told swissinfo ... Tax law expert Peter V Kunz from Bern University believes that the IRS would not have to present the names of the clients it wishes to examine if it can provide evidence of systematic abuse by UBS clients. (SwissInfo.org, Switzerland)
Market Watch: Sensex near days high; ICICI Bank, Hindalco up Aug 13, 2009
The government on Wednesday unveiled the draft of a brand new direct tax law, which will replace the four-decade Income-Tax Act, "... to improve the efficiency and equity of our tax system by eliminating distortions in the tax structure, introducing moderate levels of taxation and expanding the tax base", said finance minister Pranab Mukherjee. An encouraging industrial growth of 7. (India Times)
Mattoon school board OKs request for sales tax Aug 13, 2009
Popular items such as vehicles, mobile homes, most groceries, medications and farm equipment would be exempt from the tax, which was made possible by the state s 2007 County Schools Facility Occupation Tax Law. Iowa previously adopted legislation allowing for school districts to collect sales tax revenue, and every county in Iowa has now implemented such a tax, according to Lilly. (Mattoon Journal-Gazette, IL)
Who are the 'Best Lawyers'? Aug 12, 2009
Gregory Berger, tax law ... J. William Callison, corporate law, nonprofit/charities law, tax law. (Denver Business Journal, CO)
EuroBancshares, Inc. Reports Financial Results for the Second Quarter Ended June 30, 2009 Aug 11, 2009
Puerto Rico income tax law does not provide for the filing of a consolidated tax return; therefore, the income tax expense reflected in our consolidated income statement is the sum of our income tax expense and the income tax expenses of our individual subsidiaries. Our revenues are generally not subject to U.S. federal income tax; with the exception of interest income from interest earning deposits in the United States that are not considered portfolio interest. (PR Newswire)
Clunker car plan takes toll on charities Aug 11, 2009
The last time car donations were hurt by federal measures was in 2005, when tax law was changed so the amount a taxpayer could claim for donated cars was limited to the amount it sold for at auction. Previously, taxpayers could deduct the "fair market value," which in most cases exceeded the auction price. (Pittsburgh Post-Gazette, PA)
State set to explain big changes to ag tax Aug 9, 2009
A 10 percent limit per year is built into the new tax law, she said, to ease potential huge bumps in tax bills. She said county officials and landowners likely will find the meetings informative. (Rapid City Journal, SD)
Boyd optimistic about Isles Aug 7, 2009
Change in Hawaii tax law won't hurt business, owner of California Hotel says. Advertiser Staff and News Services. (Honolulu Advertiser)
buy your own bankrupt creation-science theme park Aug 7, 2009
Federal Tax Law Congress. Executive Branch. (Harper's Magazine)
Cost Segregation can Maximize Income from Your Real Estate Investments Aug 6, 2009
That court case simply did this, it said that the traditional description of a property and a building had two categories to analyze, not just the entire property as what was called real property in the definition of the tax law. Since 1997, many more court cases have helped to define those elements of a property that are again personal versus real, but they are still attached to the building. (RealtyTimes)
VOICE OF THE PEOPLE | Aug 6, 2009
A recent letter by Charles Blackwell of York stated that our nation's downhill slide to socialism started with the passing of the graduated income tax law, and he included some quote by Karl Marx. I do not know very much about Karl Marx, but Jesus said, For unto whomsoever much is given, of him shall be much required and to whom men have committed much, of him they will ask the more. (Herald Online, SC -- Opinion)
Open Letter To The President J.E.A Mills Aug 6, 2009
Mr. President as a former teacher and a tax law professor with an in-depth knowledge of our educational system, education should be a priority to you so as to enable the destitute to have the chance to be like you. Mr. President with all humility you signed a social contract with the people of Ghana and I urge you not to renege on your promises for a better Ghana for all Ghanaians. (Ghana Web, Ghana)
We all avoid tax at one time or other; but is it wrong? Aug 4, 2009
However, according to the tax historian Basil Sabine, the term legal avoidance was not coined until 1906; meaning a skilful exploitation of a loophole following a close reading of the tax law. It may be said that the modern era of tax avoidance owes its wide practice and respectability to Lord Tomlin who in the celebrated Duke of Westminster case in Britain said: Every man is entitled, if he can, to order his affairs so that the tax attaching under the appropriate Acts is less than otherwise... (The Star Online, Malaysia -- Business)
Newspaper probes Arizona private school tuition tax Aug 3, 2009 Two More Lawyers Plead Guilty in Decade-Old 'Runner' Investigation Jul 31, 2009 U.S.-Panama trade deal may test Obama goals Jul 31, 2009 Sen. Bob Dutton: Legislators need to nurture jobs creation Jul 30, 2009 Trico Reports Favorable Second Quarter Results On Growth of Subsea Services Business Jul 30, 2009 EU files WTO case over Philippine taxes on spirits Jul 29, 2009 County Legislature bans texting while driving Jul 29, 2009 'Cash for clunkers' under way Jul 28, 2009 VOICE OF THE PEOPLE | July 24 Jul 28, 2009 Could Hurt Charities... Jul 25, 2009 00002339 Our View Jul 24, 2009 READ THE RELEASE: From Ford Jul 24, 2009 Retirement tax breaks Jul 23, 2009 2009 Tax Law Change for Home Sales Jul 23, 2009 Taxpayers Prove Inferior to Shareholders With Obama's Build America Bonds Jul 23, 2009 Calif. budget plan includes new offshore oil Jul 22, 2009 Atlanta to use city bonds to buy MLK papers Jul 21, 2009 Affordable housing projects get $38M in stimulus funds Jul 18, 2009 Court ruling could mean $700,000-plus for OCSD 5 Jul 17, 2009 Healthcare Is a National-Security Issue Jul 16, 2009 IRS offers small businesses shelter from ill-conceived law Jul 16, 2009 Too much red tape (5) Jul 16, 2009 Nabucco ink starts to flow Jul 16, 2009 HISTORY? Clarence Thomas: I'll serve on Court for 40 years... Jul 13, 2009 State gets $10.3M energy boost Jul 12, 2009 Featured Writer:Diane Kennedy Jul 12, 2009 Fastenal Company Announces Cash Dividend Jul 11, 2009 Death and taxes: Big IRS bill looms for MJ estate Jul 11, 2009 Cayugas can sell untaxed cigarettes Jul 11, 2009 AIG loses big round in US$4.3bil battle with Greenberg Jul 8, 2009 Do you know the golden rule to borrowing? Jul 7, 2009 100% tax exemption to electoral trusts Jul 7, 2009 Stem Cell Industry Expert Praises, Encourages Continued Progress on Legislation to Promote Benefits of Cord Blood Jul 7, 2009 Assessor seeks audit for his office Jul 6, 2009 McKinney viewpoint: Saluting our troops on July 4th Jul 5, 2009 Simsbury baseball coach and partners help protect clients' assets Jul 5, 2009 Like AT & T, Other Conn. Corporations Using Tax Loopholes Jul 5, 2009 Budget: Need for indirect tax reforms Jul 4, 2009 Hawaii Joins List of Amazon's Affiliate Closures Jul 4, 2009 Poll: Few back changing California property tax limits Jul 4, 2009 How about a saral tax structure? Jul 3, 2009 N.H. Tax Evaders Begin Trial Jul 1, 2009 Global Sources appoints David Gillan Chief Financial Officer Jul 1, 2009 > How to pay less tax Jun 30, 2009 Wyo. board to settle ag land tax dispute Jun 30, 2009 Challenges to GST rollout Jun 30, 2009 Fiscal crisis puts Prop. 13 up for discussion Jun 29, 2009 Bailout of U.S. Banks Gives British Rum Maker Diageo $2.7 Billion Benefit Jun 29, 2009 'Golf Tax' Raises Concerns Jun 28, 2009 Insurance sector pins hope on budget Jun 27, 2009 New tax law exempts disabled veterans Jun 27, 2009 Documents show Apple's tax-break quest for NC site Jun 26, 2009 IRS seeks repeal of work cell phone tax Jun 26, 2009 Funds could improve Convocation Center parking Jun 25, 2009 M-H wins 15 awards Jun 25, 2009 U.S. Corporate Tax Audits Down 9 Percent: IRS Report Jun 23, 2009 Bankruptcy rules you should know Jun 22, 2009 Schumer pushes for tax law reform Jun 22, 2009 Phil Ting: Corporate loopholes make Prop. 13 crippling for state Jun 21, 2009 U.S., Switzerland agree to crack down on tax evaders Jun 20, 2009 U.S., Swiss Complete Tax Treaty Talks Jun 20, 2009 Judging John Yoo Jun 20, 2009 Vegas newspaper to comply with narrowed subpoena Jun 19, 2009 Money Sports stars richer after High Court ruling Jun 18, 2009 Texas law should reduce franchise taxes for small businesses Jun 17, 2009
According to the probe by the East Valley Tribune, the program has fostered a system with no oversight that allows schools to circumvent both the original state law and federal income tax law ... - An untold number of STOs, schools and parents are using the tax credits in ways that violate federal tax laws governing charitable donations. (FOX 11, AZ)
Budget ax spares sacred cows Aug 2, 2009
The General Assembly will not enact a corporate tax law known as "combined reporting" that legislative analysts say would collect an additional $45 million in unpaid corporate taxes each year. Some large multistate corporations have avoided state taxes by transferring revenue and assets between subsidiaries in different states to exploit differences in tax laws. (News & Observer)
Resnick and Binder will automatically lose their law licenses because they pleaded guilty to a violation of Tax Law 1804(b), a class E felony. The attorneys admitted letting a third attorney, Richard Boter, operate a law office in Manhattan using the firm's name, Resnick & Binder. (Law.com)
Still, Panama appears intent on negotiating a specific type of agreement a treaty on double taxation that may not satisfy U.S. congressional critics who instead are demanding Tax Information Exchange Agreements, which provide for the sharing upon request of information needed to enforce U.S. tax law. The Office of the U.S. Trade Representative would be satisfied with either approach, according to an administration official, who requested anonymity to discuss sensitive talks. (USA Today -- Money)
Still others would conform California's tax law to federal law and spur needed investments in real estate and water infrastructure. Sadly, all but four of these 18 job creator measures have been blocked, gutted or put on hold. (Sacramento Bee -- Opinion)
02 Norwegian tax law change -- -- Tax effect (1,617) (0 ... 125% convertible debt discount, Norwegian tax law change and tax effect. (Primezone Releases)
The Philippines' chief WTO envoy said his country was reviewing its tax law and welcomed dialogue with Brussels. But he added that the tax differences needed to be understood as an attempt to help indigenous communities in the Philippines that are producing alcohol from simple ingredients such as coconut and sugarcane. (Atlanta Journal-Constitution -- Business)
The increase from 3 percent to 4 percent fulfills a requirement by state tax law. Cayuga County earned StormReady status from the National Weather Service, which recognizes the county as one prepared to respond quickly to life-threatening weather. (Auburn Citizen, NY)
The says the answer to that question would depend on local sales tax law. Another issue is whether a new-car buyer would need to have the title to his or her clunker in hand at the dealership, which occurs less than half the time when people trade in their vehicles, Wood said. (CNN -- US)
Our nation's downhill slide to socialism started with the passing of the graduated income tax law, based on Karl Marx's, From each according to his ability, to each according to his need. . (Herald Online, SC -- Opinion)
But Melwood is already struggling with a drop in donations even before the new program due to the recession and a tax law change that lowered the tax donation value of car surrenders. In 2005 car donations brought in $12 million for Melwood. (The Drudge Report)
Our nation's downhill slide to socialism started with the passing of the graduated income tax law, based on Karl Marx's, From each according to his ability, to each according to his need. They found the body of my friend Natalya Estemirova on Wednesday. (Herald Online, SC -- Opinion)
-- Continued or worsening financial crisis; -- Further declines in industry sales volume, particularly in the United States or Europe, due to financial crisis, deepening recessions, geo-political events, or other factors; -- Decline in market share; -- Continued or increased price competition resulting from industry overcapacity, currency fluctuations, or other factors; -- A further increase in or acceleration of market shift away from sales of trucks, SUVs, or other more profitable vehicles,... (USA Today -- Money)
Will I have to pay tax on this lump sum now the tax law has changed ... How does the new tax law affect the balance of the lump sum. (iAfrica.com)
Limited Exclusion on the Gain on the Sale of Homes. Has it ever been used as a rental property. (Suite101.com)
The difference in borrowing costs shows elected and appointed officials are failing taxpayers, said Stanley Langbein, a banking and tax law professor at the University of Miami and former counsel at the U.S. Treasury in Washington. Issuers are supposed to get the best rate available, Langbein said. (Bloomberg)
We assist clients with asset protection, wealth preservation planning, offshore trusts, domestic and international tax law. Featured. (Yahoo News -- Top Stories)
ADA is fully supportive of the center s efforts to secure the rights to serve as a primary exhibitor using its TAD allocation, said Cheryl Strickland, managing director of TADs at ADA. We have performed our due diligence and determined that using TAD funds in this manner is an appropriate usage of the funds allocated to the center and aligns with federal tax law. The reason why we are supportive of this project is because it is an economic development driver. (Atlanta Journal-Constitution -- Metro)
Historically, federal tax law has permitted taxpayers to claim a low-income housing tax credit for some investments in affordable housing projects. These credits have attracted private capital to invest in the development and rehabilitation of low-income projects. (New Mexico Business Weekly, NM)
If they don t, it s our responsibility to step up to the plate and address it, said Martin, a leader in the 2006 tax law debate. We cannot let this wait until January. (Orangeburg Times and Democrat, SC)
Health care and national security. Wed, 07/15/2009 - 12:01pm. (Slate)
The Internal Revenue Service has agreed to temporarily stop collecting large fines for small violations of a poorly crafted tax law that threatened to bankrupt an increasing number of honest businessmen and women. Congress now has until Sept. 30 to clean up the mess it made of the American Jobs Creation Act of 2004. (Longview Daily News, WA)
"In order for us to continue to open up new states, we need to show we can be in compliance with state shipping and tax law, and avoid sales to minors all the things that matter to other states," he said. Gross said the solution exists for wineries to work with a compliance firm to make sure every shipment is legal. (Lodi News Sentinel, CA)
This is one of the reasons why clarifying the legal framework and applicable tax law in Turkey has been a sine qua non. These were major sticking points between Turkey and the EU that were overcome in the breakthrough Prague summit just two months ago. (Asia Times Online)
At Yale Law School he took tax and corporation classes and did better than his detractors have suggested; tax law professor Boris Bittker every year set aside several anonymous exam bluebooks as examples of good work, and one year one of those bluebooks was Clarence Thomas. Most profiles of Thomas, and much of My Grandfather s Son, concentrate on issues of race. (The Drudge Report)
Tax law to target cash-only deals ... Act 134 establishes the Special Enforcement Section, which will investigate reported or suspected violations of tax laws, with a special emphasis on cash-based businesses. (Honolulu Advertiser)
You will be updated on current tax law changes as well as proactive tax strategies the wealthy use plus news regarding Diane Kennedy. July 17, 2008. (RealtyTimes)
For example, a change in business needs including working capital and funding for acquisitions, or a change in tax law relating to dividends, could cause the Company to decide not to pay a dividend in the future. A discussion of other risks and uncertainties is included in the Company's 2008 annual report on Form 10-K under the section captioned "Risk Factors" and the Company's 2008 annual and 2009 quarterly reports under the section captioned "Management's Discussion and Analysis of Financial... (Primezone Releases)
California Bar Certified Tax Law Lawyer Referral Service. Featured. (Yahoo News -- Press Releases)
In a 3-1 decision, the Appellate Division, Fourth Judicial Department of the State Supreme Court overturned a state Supreme Court decision against the Cayugas, ruling that because the state's efforts to collect taxes on sales to non-Indians failed to provide a way to ensure that Indians would not be taxed, that state tax law was insufficient to charge the Cayugas with a violation ... In his decision, Fisher stated the Cayugas don't operate the stores on legally recognized reservations, making... (Auburn Citizen, NY)
It's such an unusual fund that even Greenberg acknowledged in a speech many years ago that it would not be able to be created under current U.S. tax law. Starr International is a Bermuda-based holding company. (The Star Online, Malaysia -- Business)
Under income tax law it is how the borrowed funds are used that dictateif a loan is tax deductible, not the type of security or loan used. Q. I am currently negotiating to buy a business. (Sydney Morning Herald -- Business)
A senior tax lawyer, who is also a functionary of a political party, requesting anonymity, said: After the enactment of Right To Information Act, this is the first major policy decision by the government for inculcating transparency in public life ... Even now, such donations can gain exemption through another provision in the income tax law that allows deduction to donations to recognised trusts, said Dinesh Vyas, a leading tax lawyer ... The effectiveness of the exercise initiated by the... (India Times)
H.R. 1718 would amend an existing tax law in order to add these services to a list of qualified medical expenses that may be paid for with pre-tax dollars, or be deducted from taxable income. The promise of continued progress came in late April, when Congresswoman Jackie Speier introduced H.R. 2107, the "Cord Blood Education and Awareness Act of 2009.". (PR Newswire)
The audit team may include members of the public familiar with the assessment practices and Oregon property tax law ... Gasperini said asking non-Department of Revenue professionals with knowledge of the state's property tax laws to assist is not unusual. (Coos Bay-North Bend The World, OR)
Federal tax law prohibits the VLB from issuing more than 250 million in veterans' mortgage bonds per year, and the current authorization will last through the end of 2009. This proposed constitutional amendment would allow the VLB to avoid having to seek new bonding authority every four years, as long as the VLB did not issue more than the total amount of bonds authorized by the Legislature and the voters in previous constitutional amendments. (McKinney Courier-Gazette, TX)
"Our challenge is to take ... complex tax law and complex needs for our clients and mesh them together." This service becomes even more vital with the estate tax expiring in 2010 and then coming back in 2011. Wetjen said there is growing confusion over state and federal estate tax law ... "Keeping up with the latest and greatest of tax laws is clearly critical." Wetjen said APW's wealth managment functions are not reserved for the very rich. (Farmington Valley Post, CT)
As state legislators grapple with a two-year budget deficit estimated at just under $9 billion, multistate corporations are using loopholes in Connecticut's tax law to legally divert tens of millions of untaxed dollars out of Connecticut as "intercompany royalties," tax experts say. It's a practice in which a company essentially pays itself untaxed money for use of its own logo on buildings, stationery and so forth. (FOX61, CT)
While the intent of the legislature at the time of introduction of this levy was to have alternate coverage under Excise and Service tax law, the exclusion for packaged software from ITSS is not evident. 1. (India Times)
It is now fighting in courts a new sales tax law in New York state, where it is collecting tax but has not shuttered its associates program. Seattle-based Amazon does not disclose how much revenue it derives from its associates nor how much traffic is directed to its site through such programs. (SmallBusinessComputing)
Only 38 percent of those who participated in the online poll backed making changes in the property tax law passed by a ballot measure in 1978 ... Reader Jeff Simon says the state's property tax laws are a problem that needs fixing, but it's not Prop. (San Jose Business Journal, CA)
If you look at the income tax statute, these taxes are not taxes on income and should therefore not be part of the income tax law. FBT is a tax on expenditure and STT is a tax on transaction. (India Times)
There is an Aaron Russo (now deceased film maker) movie on this very subject on whether the tax law exists and if it was properly ratified. I'm no expert on US tax law by any means, but it's an interesting watch. (CBS News)
Global Sources' Chairman and CEO, Merle A. Hinrichs, said: "Since October 2008, David served as Deputy CFO. I congratulate David on his new appointment as CFO and am confident his close collaboration with Eddie over the past nine months has resulted in a seamless transition. David's vast knowledge and experience in corporate finance and China tax law is a great asset to our management team. We thank Eddie for his service to Global Sources, and we wish Eddie the very best in his retirement.".... (PR Newswire)
I'm completely baffled by tax law ... Being baffled by tax law is something that is not unique to you, but this does not make the process of understanding or claiming these deductions out of reach to the average South African ... On the contrary, SARS has made some significant strides in making the tax laws and, more importantly, the tax submission process much simpler. (iAfrica.com)
John Jenkins of Buffalo is challenging state tax law. His property tax went from 4,000 in 2007 to 120,000 last year. (Sioux Falls Tri-State Neighbor, SD)
A GST Act replacing the Central Excise Act, the service tax law and State VAT Act needs to be put in place. The IT infrastructure required to track inter-state transaction needs to be upgraded, state tax administration familiarised with GST, and new challans formatted. (India Times)
While the public remains solid in its support for the tax law, it is not as well-informed about how the state budget is put together, said Mark DiCamillo, director of the poll, which has regularly surveyed Californians' attitudes toward Prop. 13. (San Francisco Chronicle -- Politics)
The change in the racecar-track tax law will cost the U.S. $100 million during the next decade, according to estimates by the congressional Joint (JCT) ... Congress originally acted to provide clarity and certainty in the tax law ... That means provisions such as a $5,000 tax credit for first-time buyers of houses in the District of Columbia have become a de facto part of the tax law since first becoming a temporary benefit in 1997. (Bloomberg)
He opposes tax increases but says one way to raise more revenue through sales taxes would be to plug holes in the existing sales tax law. That would mean removing all exemptions to the sales tax. (The Pilot Newspaper)
Hence, the tax law for the insurance companies was also enacted keeping this in mind. 00004000 However, with the opening up of the sector many new private insurers have entered into the industry and are now facing certain tax challenges based on the present tax law With the budget coming close and an expectation of an increase in the Foreign Direct Investment (FDI) limit in insurance to 49 percent, the insurance industry is expecting the Government would settle some of the burning issues that... (India Times)
for free extra services. Subscribe to San Antonio Business Journal. (San Antonio Business Journal, TX)
North Carolina's General Assembly changed its corporate tax law to favor Apple Inc. after fears the technology giant would take its $1 billion data center to Virginia, state documents released Thursday show. . (Herald Sun)
The agency created an uproar when it proposed ways to simplify compliance with current tax law, which treats personal use of work-supplied cell phones as personal income. That law, said IRS Commissioner Doug Shulman is burdensome, poorly understood by taxpayers and difficult for the IRS to administer consistently. (Buffalo Business First, NY)
"South Carolina tax law is allowing us to receive a rebate of part of the admissions tax paid to the state from ticket sales for events at the convocation center," explained Ginger Hudock, the university's vice chancellor for business and finance. In addition to parking, she said, the university would like to use the money for additional lighting outside the convocation center. (The Augusta Chronicle)
The winning editorial entry included items on the election of Bruce mayor Robert Edward Oakley and on church advocacy and tax law. The planned series of stories winner was on the opening and programs of the new Calhoun County Career-Technical Center, parts of which also won second and third place in the category. (Calhoun City Monitor Herald, MS)
President Barack Obama has proposed doubling the agency's enforcement budget for 2010, including hiring about 800 new staffers just to enforce international tax law ... The report did not make any specific recommendations, but noted the enforcement of tax laws is among the key "high-risk" areas consistently cited by the Government Accountability Office. (ABC News -- Wire)
He also holds Masters in accounting and a Masters in tax law. He currently serves on the board of directors of the Friends of the Saugus Senior Center and is a member of the Massachusetts Chapter of the National Academy of Elder Law Attorneys. (Burlington Union, MA)
Under the current tax laws, homeowners who do not itemize their taxes are prevented from deducting their property taxes from their federal tax bill. This means that non-itemizers are not only whacked by sky-high property tax rates, but they are hit again when the dollars spent on property taxes are taxed as part of their income, Schumer said. (Oswego Palladium-Times, NY)
Such a steady funding source has disappeared from the California budget because of the illogical patchwork of California tax law ... One of the most important tax reforms we can make is to amend Proposition 13, the foundational tax law in California that, by restricting one of our most important funding streams, has contributed to so many of the problems facing our state. (Sacramento Bee -- Opinion)
"This treaty will increase our ability to enforce our tax law and will help bring an end to an era of offshore accounts and investments being used for tax evasion," Geithner said. The protocol, which the two countries are expected to sign in the next few months, would revise the existing U.S.-Switzerland treaty to allow for a greater exchange of information as permitted by a model income tax convention adopted by the Paris-based Organization for Economic Co-operation and Development. (USA Today -- Money)
"This treaty will increase our ability to enforce our tax law and will help bring an end to an era of offshore accounts and investments being used for tax evasion," Geithner said in a statement. Besides Switzerland, Treasury also recently concluded tax information exchange agreements with Gibraltar and Luxembourg. (CBS News)
This is akin to Al Capone teaching tax law or Dom DeLuise teaching diet classes. I don't know what the students do in his class. (Slate)
The defendants claim ignorance of tax law as to the handling of gold or silver coins minted after 1985. Such coins are allowed to circulate as money. (Yahoo News -- Technology)
The key question for Chief Justice Robert French and justices William Gummow, John Heydon, Susan Crennan, Susan Kiefel and Virginia Bell was whether the management fee deductible under tax law was incurred in gaining or producing the players' assessable income. The judges said the Full Court of the Federal Court was in error to conclude the management fees were not deductible. (Sydney Morning Herald -- Australia)
The legislation modifies the franchise tax law that went into effect in 2006. The new legislation is set to take effect on Jan. 1, 2010. (San Antonio Business Journal, TX)
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