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TAX LAW NEWS - TAX LITIGATION
From the monthly archives:
The state’s high court on Tuesday upheld a 3-year-old law that lets corporations divert some of their state income taxes to help students attend private and parochial schools.
Without comment, the Arizona Supreme Court rejected arguments by the Arizona Education Association and other foes of the law that the law amounts to the state providing illegal [...]
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Prospects are brightening for a tax-law change to allow victims who invested indirectly in Ponzi schemes through advisers or feeder funds to get bigger tax refunds for their theft losses.
The change would allow victims of swindlers such as Bernard Madoff to carry back their theft losses for as long as five years instead of the [...]
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Health care reform supporters like Elizabeth Edwards, a breast cancer survivor and wife of former presidential contender John Edwards, cite research that both the insured and uninsured are facing bankruptcies for overwhelming medical bills.
The share of bankruptcies attributable to health care costs rose by 50 percent between 2001 and 2007. Some 62 percent of bankruptcies [...]
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Nevadans have responded to the government’s offer of up to $8,000 in first-time-homebuyer tax credits with gusto, filing more claims and receiving more in tax breaks per capita than residents of any other state.
Nevadans have claimed $146 million in tax breaks from the credit.
But according to new federal reports released Thursday, the program nationwide is [...]
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The government Wednesday geared up for the implementation of a law for pensioners that may cost some P11 billion in foregone revenues in the first year amid ballooning expenses for economic stimulus and reconstruction.
The Bangko Sentral ng Pilipinas, the Department of Finance and the Securities and Exchange Commission signed a memorandum of agreement on the [...]
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On its Web site, Talbots boldly says it offers clothing “to flatter women of all shapes and sizes.” But the preppy Massachusetts-based retailer just failed in its effort to hide something else: taxable income from its home-state taxman.
In a recent little-noticed opinion full of fascinating detail, the Massachusetts Appellate Tax Board said Talbots ( TLB [...]
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The Internal Revenue Service’s investigation into Americans who use foreign banks to evade taxes has all the elements of a Hollywood thriller.
Criminal indictments that have come from the investigation detail complex financial deals, complete with secret communications and people traveling to Hong Kong, Switzerland and the Cayman Islands to have secret meetings with their bankers. [...]
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Even if a homeowner’s property assessment magically soars in Prince George’s County amid a severe real estate downturn, the county won’t be able to reap the benefits next year because of a complex system of tax laws.
The County Council is poised to pass legislation regarding the Homestead Property Tax Credit, a statewide tax limit designed [...]
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Scheduled for Oct. 27, people will have an opportunity to discuss how farm families deal with the federal estate tax on Twitter’s #AgChat, a live, online chat where agriculturists and others discuss issues important to agriculture. The online discussion happens every Tuesday from 5 p.m. to 7 p.m.
The purpose of the Oct. 27 #AgChat will [...]
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Governor Ed Rendell signed Pennsylvania’s budget behind closed doors just before 9 o’clock Friday night.
The governor barred the media from witnessing his signature on the spending plan.
“I believe there’s no reason to celebrate the signing of the budget,” Rendell said, trying to explain the private signing.
Rendell said the $27.8 billion appropriations bill cuts spending by [...]
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