|MAY 21, 2008|
This week, we are carefully watching the unfolding of
the "Amazon Tax" issue in New York as Amazon takes on the
Empire State over the definition of nexus. Meanwhile, the IRS
gets its hands slapped by TIGTA regarding mishandling of fee
assessments for installment payment programs, and taxpayers who
are finding that their rebate/stimulus payments were deposited
into IRA accounts can now jump through a few hoops to free the
money from the tax-deferred account without paying a penalty.
Six Chicago defendants found guilty in tax fraud trial
Six defendants were convicted Monday after participating in a nationwide tax scheme that enabled 650 wealthy taxpayers to cheat the government out of $60 million.
Complex tax break on hybrids causes headaches for IRS
Some taxpayers erroneously claimed an alternative motor vehicle credit on leased cars, tried to claim it for cars that did not qualify, or claimed more than the maximum $3,150, according to a new government report.
Blog: Love Your Greencard? You'd better...
H.R. 6081, The "HEROES EARNINGS ASSISTANCE AND RELIEF TAX ACT OF 2008" has a hidden agenda that screws you, the Greencard holder, out of all your hard-earned money when you leave the U.S. to return to your home country....
Read Liz Zitzow's Offshore Taxation blog and add your own comments!!
Blog: New York Taxes Internet Sales - Register Now or Else
New York offers limited amnesty regarding uncollected sales tax to merchants shipping products to New York State customers. Register before June 1, 2008. New York State just hit Amazon.com, big time, for unpaid sales taxes even though Amazon does not have a physical location in the state. Amazon is suing, claiming the New York law is unconstitutional based on a 1992 U.S. Supreme Court ruling that claims states are prohibited from requiring out of state retailers to collect sales tax unless the company has a physical presence in the state. Quill vs North Dakota Watch this closely. This will be a landmark decision. If NY wins, then two things will happen....
Read Tax Mama's blog and add your own comments!!