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TAX LAW NEWS - TAX LITIGATION
From the monthly archives:
WASHINGTON — The Internal Revenue Service today announced the issuance of proposed and temporary regulations and related revenue rulings addressing the use or disclosure of tax return information by tax return preparers.
The regulations and related revenue rulings under section 7216 enable tax return preparers to more effectively provide a range of services that taxpayers would [...]
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The expiration of the estate tax at the beginning of the year, and the threat of it returning with a vengeance in 2011 at a 55 percent rate for estates over $1 million, is giving estate planners fits.
Senate Finance Committee Chairman Max Baucus, D-Mont., had attempted to get at least a temporary extension in place [...]
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A fight may be brewing between supporters of a proposed Dubuque property tax hike and opponents.
A proposal presented to the Dubuque City Council earlier this month include a 2.47 percent increase for the average Dubuque homeowner, or about $27.57. Commercial and industrial property taxes are expected to increase 1.72 percent.
A factor contributing to the proposed [...]
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This month, as the tax year nears an end, thousands of Arizonans are expected to donate money to private-school tuition groups and claim a tax credit
that reduces what they owe the state.
Many taxpayers will recommend that their money go to specific students as scholarships; many tuition groups will honor those wishes.
But these taxpayers, and the [...]
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The Internal Revenue Service today announced the 2010 inflation adjustments to the excise taxes on air transportation.
Excise taxes apply to the domestic segments of taxable air transportation and to the use of international air facilities. The Fiscal Year 2010 Federal Aviation Administration Extension Act, Part II, signed into law on Dec. 16, 2009, extends these [...]
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Major legislation to modernize the state’s tax system may be postponed until 2011, Democratic leaders in the General Assembly say.
The delay would not be surprising, given that the legislature has been discussing major tax reform for years but has never come close to passing a tax overhaul. Also, the 2010 elections, in which all legislative [...]
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The head of an Orthodox Jewish group was handed a two-year prison sentence today in Los Angeles for his part in what prosecutors said was a decade-long tax fraud and money laundering scheme.
The 61-year-old rabbi, Naftali Tzi Weisz, pleaded guilty last August to criminal conspiracy charges before U.S. District Judge John F. Walter.
“I’m embarrassed beyond [...]
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Ohio Governor Ted Strickland has signed the delay in the income tax cut into law.
The move is designed to fill the 850-million dollar gap in the state’s budget for 2010.
Many Republicans called the proposal a tax increase, including Findlay State Representative Cliff Hite.
The 4.2-percent reduction was part of a 21-percent reduction that began in 2005. [...]
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WASHINGTON — The Internal Revenue Service today reminds individual taxpayers who are considering buying a new car that they have until Dec. 31 to take advantage of a tax break that may not be around in 2010.
Taxpayers who buy a qualifying new motor vehicle this year after Feb. 16 can deduct the state or local [...]
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The tax-filing deadline may be months away, but it’s not too early to start thinking about tax preparation.
There’s lots of help available for taxpayers, said Dan Boone, regional spokesman for the Internal Revenue Service. The official IRS Web site, www.irs.gov, includes IRS forms and publications and the latest tax tips and answers to frequently asked [...]
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