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Saturday, May 23, 2009

Wal-Mart Loses State Income Tax Appeal

by taxnick on May 23, 2009

US retail giant Wal-Mart has lost a legal battle to reclaim USD33.5m in tax it paid to the state of North Carolina in a case that may have implications for the way in which US businesses organize their corporate structures.
Wal-Mart was appealing the USD33.5m bill for back taxes, penalties and interest imposed by North Carolina, [...]

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IRS Names 10 New Members to ACT Advisory Panel; ACT to Submit Recommendations at June Meeting

by taxnick on May 23, 2009

The Internal Revenue Service’s Advisory Committee on Tax Exempt and Government Entities (ACT) will hold a public meeting on June 10, when the panel will submit its latest round of recommendations to senior IRS executives.
Ten newly named members of the panel (listed below) will also be introduced at the public meeting. They will begin two-year [...]

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