A nationally known online bookseller must pay more than a half million dollars in taxes for books, music and movies bought by customers in New Mexico, the state Court of Appeals has ruled in a dispute over the state's power to tax corporate chains and Internet shopping. The court's decision came Wednesday in a case…
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Foreign accounts in Miami to be disclosed….
Tax rule would force banks to disclose identities of foreigners who make US deposits. Over the objections of Florida lawmakers, the U.S. Treasury Department has issued a new rule that will force banks to disclose the identity of foreigners who deposit their money in America. The regulation - which represents a major shift in…
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Large Taxpayers still on IRS Radar Near-Term.
The Internal Revenue Service will continue to have a presence with the nation's largest taxpayers despite its plans for a gradual move away from a model where examination coverage is often determined by a taxpayer's size, IRS Large Business & International Commissioner Heather Maloy said April 18. Her comments came while discussing the vision for…
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The Supreme Court Declined Review of Former Corporate Officer's Liability for Sec. 6672 Penalties – Excise Taxes.
The Supreme Court has declined to review a decision of the Fifth Circuit that the president/CEO of a defunct airline was a responsible person who willfully failed to remit excise taxes. The Fifth Circuit rejected the taxpayer's claims that he relied on counsel in paying other creditors before IRS and that a post-9/11 law extending…
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