By H. Jacob Lager of Zuber & Taillieu
The Tax Court has held that the step transaction doctrine did not apply to a series of bargain sales from a family-owned S Corp. to a charitable organization. As a result, the shareholders were entitled to charitable contribution deductions related to the sales. In William R. Klauer v. Commissioner of… More...
The Internal Revenue Service issued guidance today on the treatment of basis for certain estates of decedents who died in 2010. More...
Three financial investors who purchased municipal tax liens at auctions in New Jersey have pleaded guilty for their roles in a conspiracy to rig bids at tax liens auctions held by municipalities, the Department of Justice announced. More...
In an advisory opinion, the New York Department of Taxation and Finance has held that receipts from sales of patent drawings delivered electronically to its patent attorney customers are not subject to sales tax. More...
Gian Gisler, a former UBS AG("UBS") banker and then an independent financial adviser, was indicted last Thursday for conspiring to hide more than $215 million offshore at various Swiss banks. More...
California Governor Edmund G. Brown has signed into law the Sales and Use Tax bill, ABx1 28, a state legislation authored by Assembly member Bob Blumenfield (D-San Fernando Valley), and which clarifies the obligations under existing law for out-of-state retailers to collect and remit use tax on sales of tangible personal property to California residents. More...
U.S. taxpayers hiding income in undisclosed offshore accounts are running out of time to take advantage of a soon-to-expire opportunity to come forward and get their taxes current with the Internal Revenue Service. More...
The Indiana Department of Revenue (DOR, or department) has issued a tax bulletin to clarify that purchases made directly by Indiana state and local government entities are exempt from sales tax. More...
Martin Lack, a former UBS AG banker who is currently an independent asset manager, has been charged with conspiracy to defraud the United States, according to a joint report issued by the Justice Department and the Internal Revenue Service (IRS). More...
A District of Columbia federal court has entered a permanent injunction order against Steven McClain and the Trust for Architectural Easements Inc. (formerly known as the National Architectural Trust), according to the Justice Department. More...
Governor Edmund G. Brown, Jr. signed budget trailer bill ABx1 28 on June 28, 2011. More...
