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TAX LAW NEWS - TAX LITIGATION
From the category archives:
According to a recent report in the Huffington Post, Illinois ranks in only the eighth position of the top ten highest sales tax States in the United States. That may come as a surprise to many residents of Cook County and perhaps even more of a surprise to residents of the City of Chicago where [...]
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“In this world, nothing can be said to be certain, except death and taxes.”
-Benjamin Franklin
Benjamin Franklin was correct in his assessment of both death and taxes, but while taxes have been certain, they’ve been far from consistent.
The Land that Tax Forgot
America was tax-free for much of its early history. That is, free of direct taxation [...]
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State tax grab efforts more and more are pitting governments against big Internet retailers.
Who gets forgotten, though, are the little guys and gals making a go at the American dream by running small retail businesses from their garages or Internet businesses from spare bedrooms.
Laws like the one passed recently in Colorado apply to all — [...]
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The federal budget includes a plan to reverse a big decline in Canadian venture capital investment, starting with a change to tax law.
A long-time plea by Ottawa technology magnate Terence Matthews and industry lobbyists was answered when the government cancelled Section 116 of the Income Tax Act, which forces foreign investors to file Canadian returns [...]
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Two senators Tuesday introduced a proposal to vastly simplify the nation’s tax code by cutting the number of income tax brackets in half and flattening the corporate tax rate.
The plan put forth by Sens. Judd Gregg (R., N.H.) and Ron Wyden (D., Ore.) would lower the number of marginal income tax rates to three: 15%, [...]
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In his suicide note, the computer software engineer who flew a small plane into a building with Internal Revenue Service offices in Texas on Thursday cited a 1986 tax law as a major motivation for his action.
The law, known as Section 1706 of the 1986 Tax Reform Act, made it extremely difficult for information technology [...]
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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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Some tax law is going to make me rich? What is this stupidity?
It’s not stupidity at all. For a long time the Roth IRA rules —
Aaah. The Roth IRA. I hate that thing. You know that between the royalties on my invention and the dividends on those stocks you told me to buy like Waste [...]
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Residents facing hardships during the recession could find a little financial relief through a number of tax law changes this year, according to local accountants.
A number of new credits and expanded deductions could translate into tax savings for families, students, homeowners and vehicle buyers.
Taxpayers with three or more children and married couples may be able [...]
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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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