Tax Law | JD Supra Legal News, Updates, Analysis, & Information

Maryland taxes on refinancings to increase – the end of (new) "IDOTS"

by Saul Ewing LLP on 5/23/2012

On May 22, 2012, Maryland's Governor O'Malley signed legislation mandating that indemnity mortgages and indemnity deeds of trust will be subject to recordation taxes. Property owners now have just over a month to refinance...more

Consulting Payments To A Related Entity Did Not Avoid Unreasonable Compensation Issues

by Charles (Chuck) Rubin on 5/23/2012

An accounting firm operated as a C corporation. The firm paid substantial fees to three related entities created by the founding shareholders of the firm. The fees were so high as to reduce the net income of the firm to a de...more

PA Tax Law News -- May 2012

by McNees Wallace & Nurick LLC on 5/22/2012

IN THIS ISSUE: Long Awaited Tech One Associates Decision; Philadelphia Common Level Ratio Drama Continues; Court Upholds IFTA Liability; PA Budget Watch; Goodwill Included in Subsidiary Valuation for Holding Company...more

E&Y and MPAA Release Tax Credit Benefits Study

by Heenan Blaikie LLP on 5/22/2012

Ernst & Young LLP earlier this month released a study assessing the "economic benefits of film production tax incentives". The study, entitled "Evaluating the effectiveness of state film tax credit programs" was commissioned...more

CJEU Ruling in Santander: Withholding Tax on Dividends Distributed to Non-Resident UCITS Infringes EU Freedoms

by McDermott Will & Emery on 5/21/2012

On 10 May 2012, the Court of Justice of the European Union (CJEU) issued its judgment in Santander (joined cases C-338/11 to C-347/11), stating that the French legislation that imposes a withholding tax on French-sourced...more

Incentives for Offshore Voluntary Disclosure Initiative

by Sanford Millar on 5/21/2012

For most U.S. taxpayers who have undeclared foreign financial accounts entering the Offshore Voluntary Disclosure Initiative of 2012 (OVDI) is appropriate. Many people have contacted me and have decided not to enter the OVDI...more

Are the November State Tax Initiatives worrying you about going for a local school bond or parcel tax election? Teleconference on...

by Orrick, Herrington & Sutcliffe LLP on 5/17/2012

Presentation Outline: - Section 1: Navigating the School Bond Environment • Current Political Climate • School Finance Practices Under Scrutiny • What about the November State Tax Initiatives? • Opportunities to...more

Breaking the Code of ERISA Fiduciaries: A Plan Sponsor’s Guide

by The Rosenbaum Law Firm P.C. on 5/17/2012

When you are purchasing a home computer these days, it can often be confusing if you are not well versed in the jargon. While selecting between a Mac and a PC or a laptop vs. a desktop is easy, the other details can be...more

Switzerland Responds to Wegelin Indictment and DOJ’s Relentless Pursuit of Offshore Bank Account Information

by Sheppard Mullin Richter & Hampton LLP on 5/16/2012

On February 2, 2012, Wegelin & Co., Switzerland’s oldest private bank, became the first overseas bank to be indicted by the United States for aiding tax fraud—but it may not be the last. The company is one of at least 11...more

UK Procedure on Unique Taxpayer Reference Numbers (UTRs) for Investment Partnerships Finalised

by Proskauer Rose LLP on 5/16/2012

In 2009, Her Majesty's Revenue & Customs ("HMRC") in the UK announced that, for partnerships filing UK tax returns, each partner was required to have a unique taxpayer reference number ("UTR"). This primarily affected...more

IRS to Focus on Housing Counseling Agencies

by Venable LLP on 5/16/2012

Earlier this year, the Internal Revenue Service’s (“IRS”) Exempt Organizations (“EO”) division unveiled its annual work plan. The plan highlights EO’s priorities for the year and is the best indicator of what the staff will...more

IRS Statute of Limitations on Foreign Sources of Income

by Darrin Mish, Tampa Tax Attorney on 5/16/2012

Many people were rejoicing when the Supreme Court decided in favor of Home Concrete & Supply LLC in their dispute with the IRS over the statute of limitations on tax audits. In that landmark case, the highest court in the...more

Maryland Legislature Revisits IDOT Debate Today

by Ballard Spahr LLP on 5/15/2012

The Maryland General Assembly convenes today for a special session to revisit the “doomsday” budget enacted by default at the end of the General Session when the House and Senate could not agree on a budget bill. Under the...more

Current tax Issues affecting managers and investors in Alternative Investment Funds

by K&L Gates LLP on 5/15/2012

In This Presentation: What are we going to talk about? We will concentrate on tax aspects but don’t forget other factors In the context of the standard offshore model we will look at tax issues for: -...more

Many Renouncing Citizenship Because Of IRS Action On Foreign Assets

by Darrin Mish, Tampa Tax Attorney on 5/15/2012

Due to the IRS action of taxing foreign assets owned by US citizens, a number of Americans have decided to relinquish their citizenship to avoid paying taxes. Among the more prominent ones is Eduardo Saverin, co-founder of...more

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Tax Law – May 24, 2012

Narrowed by: Finance & Banking