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TAX LAW NEWS - TAX LITIGATION
From the monthly archives:
We do our best to stay up to date on reverse mortgage legislation but every once and a while something slips by and the Reverse Mortgage Fairness Act of 2009 is a perfect example. New York’s Govenor signed A08305 in July and the bill became effective Oct. 26, 2009.
The bill amended Banking Law and Real [...]
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It takes Sgt. Charles Denault barely two minutes to spot a dozen cars with out-of-state license plates parked in driveways and outside houses and apartments.
Driving his cruiser along this streets of coastal Kittery, Denault is on the lookout for vehicles registered in other states — especially New Hampshire — but owned by people who live [...]
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As many Americans gird themselves for the Black Friday shopping crush, we can think of a lot of reasons to stay home and do holiday shopping online. Not having to pay sales taxes should not be one of them.
Online retailers who do not collect sales tax enjoy a significant and unfair advantage over rivals who [...]
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California resident J.D. won over $50,000 playing video poker online this year. Wow! She couldn’t do that well in Las Vegas, and at home she can play anytime without having to drive for hours. Plus, she can play any number of different “machines” without waiting for one of them to be free. But J.D. spent [...]
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From the IRS Website:
Most businesses may use losses incurred during the economic downturn to reduce income from prior tax years, under a revenue procedure issued today by the Internal Revenue Service.
The relief provided under the Worker, Homeownership, and Business Assistance Act of 2009 differs from similar relief issued earlier this year in that the previous [...]
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The state tax department is cracking down on dishonest tax preparers and refund-anticipation lenders with a new law.
The measure requires individuals and businesses who meet certain criteria with regard to tax preparation and refund loans to register annually.
Some commercial preparers will also be required to pay an annual $100 fee. Fines for violating these new [...]
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According to current federal guidelines, Roth IRA conversions are only available to taxpayers with adjusted gross incomes of less than $100,000. That limit is being repealed in January, for most Americans, but Wisconsin residents will miss out on the opportunity for now, according to Tim Steffen, CFP and CFA at Robert W. Baird & Co.
Wisconsin [...]
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More American homebuyers will get tax relief thanks to changes made to the First-Time Homebuyer Credit. H&R Block (NYSE: HRB) advises the popular credit is now more accessible to existing homeowners and first-time homebuyers in three ways:
1. Through a tax credit worth up to $6,500 for existing homeowners in the
market for a new home.
2. Through [...]
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Former hostage Terry Anderson, who was held captive in the Middle East for 6 1/2 years, has filed for bankruptcy.
In the chapter 7 bankruptcy filed Nov. 3, which was first reported by The Columbus Dispatch in Ohio, Anderson claimed $1.8 million in liabilities and $60,000 in assets.
Anderson was chief Middle East correspondent for The Associated [...]
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The dead line for The First Time Homebuyer Credit is November 30, 2009, which is just around the corner. As we know, the Housing and Economic Act of 2008 allows a tax credit of $ 8,000 for qualified first time home buyers. This credit is available for the homes purchased from April 8, 2008 to [...]
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