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Facing prosecution from state or federal authorities on alleged tax violations can be a daunting prospect. However, despite the risk of facing prosecution for tax crimes, in many cases, there are circumstances that may mitigate or refute the charges filed by...
An article in the Sunday edition of the Washington Post details the continued erosion of Switzerland's banking secrecy laws. As many of Europe's economies continue to experience stagnant economic conditions, many countries have taken aim at Switzerland's vaults in the...
Conducting an audit is one of the many ways in which State officials can ensure that a company, individual or organization is reporting their financial activity accurately. However, in other cases, these audits are used in an effort to reveal the identities of...
The US Treasury Department (Treasury Department) and the Internal Revenue Service (IRS) issued Announcement 2012-42 providing guidance on various timelines for withholding agents and foreign financial institutions (FFIs) to complete due diligence required under the...
Each year there is a substantial issue to be addressed for those businesses that owe taxes to state and federal agencies. Although companies are usually given notice of their tax debt obligations, there are some who simply cannot afford to pay these taxes at the end...
The New York Court of Appeals has affirmed a previous judgment by the state's Appellate Division that lap dances are not art, and thus are not exempt from state sales taxes.In New Loudon Corporation v. State of New York Tax Appeals Tribunal, the plaintiff, Nite...
An audit is conducted in many cases when there is a question as to the reported money that is going in and out of an organization. In some cases, these audits can reveal troubling information that can lead California officials to believe that the organization has been...
The Treasury Inspector General for Tax Administration (TIGTA) recently audited the IRS to determine whether penalty abatement for the failure to file a tax return, or failure to pay a tax liability was consistently and accurately applied to taxpayers who qualified....
The South China Morning Post is reporting that many former Chinese Nationals are thinking about renouncing their US citizenship. Such actions would have been almost unimaginable a decade ago, when getting a US passport was the ultimate Chinese status symbol.The reason...
On October 9, 2012, the U.S. Supreme Court denied, without comment, Scholastic Book Club's petition for certiorari, declining to hear an appeal regarding Connecticut's taxation of classroom catalog sales of books to students.Earlier this year, the Connecticut Supreme...
