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TAX LAW NEWS - TAX LITIGATION
From the monthly archives:
The U.S. Department of the Treasury and the Internal Revenue Service today announced the allocation of a second round of authority to Indian tribal governments to issue Tribal Economic Development Bonds under the American Recovery and Reinvestment Act of 2009 (ARRA).
The IRS awarded 76 tribal governments a combined $1.005 billion of bond issuance authority, also [...]
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Call it a stimulus plan, South Carolina style.
The state Senate has given key approval to property tax breaks for anyone who buys commercial property or a second home this year.
Such properties would get smaller tax breaks if they change hands after 2010.
The goal is to encourage commercial property sales. The costs would be borne by [...]
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College students strapped for cash are in for a treat this tax season. Under a change in the tax code, the cost of textbooks and course materials are eligible for a tax credit for the first time for students and their families.
The American Opportunity Tax Credit makes textbooks and other course material expenses—including tuition and [...]
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The owner of a small transportation company on Long Island is arguing that it is not only unfair he has to pay a payroll tax that benefits a competitor of his — the Metropolitan Transportation Authority — but that its adoption was unconstitutional.
William Schoolman, president of Hampton Luxury Liner and Classic Coach, a luxury coach [...]
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A legislative tax panel approved a bill Monday that would let state taxpayers deduct donations to Haiti earthquake relief efforts when they file their 2009 taxes this spring.
It would make state tax law match up with a federal law allowing taxpayers to deduct donations made by the end of February from their 2009 tax returns [...]
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Nearly 12,000 free tax preparation sites will be open nationwide this year as the Internal Revenue Service continues to expand its partnerships with nonprofit and community organizations performing vital tax preparation services for low-income and elderly taxpayers.
The IRS Volunteer Income Tax Assistance (VITA) Program offers free tax help to people who earn less than $49,000. [...]
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Governor Felix Camacho Friday signed bill 150 into law.
It will raise the current $1 dollar tax on a pack of cigarettes to $3 dollars. The higher tax taxes effect in 60 days, the first week of April.
Cigars will be taxed at .40 cents per mini cigar, .44 cents per regular sized cigar, and .50 cents [...]
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While Congress dilly dallies, the states are racing to come to the aid of families whose estate plans have been thrown into disarray by the Jan. 1 lapse of the federal estate tax. That lapse could, among other things, lead to the unintended disinheritance of spouses, which could in turn lead to expensive legal fights [...]
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GA Senator Chip Rogers says he wants changes to property tax law in light of the recent housing market downturn.
People who buy foreclosed properties at bargain values are being taxed at much higher county assessments, says Republican State Senator Chip Rogers.
So he’s proposing that counties can only tax on the price of a home.
“If you [...]
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Federal tax law brought quite a few changes this year as the accompanying article explains. Your state return won’t require as much heavy lifting – and many of its changes are tied to the federal return.
The biggest surprise will be on Line 15 of your state form. You’ll be asked to figure out the surtax [...]
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