The European Commission legal services have concluded that bilateral tax treaties signed by Switzerland, the United Kingdom, and Germany violate European Union law, but European Taxation Commissioner Algirdas Semeta is hopeful that both EU member states will revise the terms of the Swiss deals without having to revert to a long-drawn out legal challenge. European…
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IRS Criminal Tax Bulletin Highlights Recent Rulings
The IRS Nov. 18 posted to its website an issue of the Criminal Tax Bulletin, published by the Criminal Tax Division of the Office of Chief Counsel, which summarizes notable federal appellate rulings addressing criminal issues between April and September 2011. Among the decisions summarized in the bulletin were the 9th Circuit's rulings that the…
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IRS Identifies Gift Tax Non-Filers Using State Property Records
According Forbes, Josephine Bonaffini, the Federal/State Coordinator for the IRS Estate and Gift Tax Program, between sixty percent and ninety percent of taxpayers fail to file a gift tax return despite having engaged in a transaction requiring a return. Although gift tax audits are historically rare, the IRS has examined hundreds of taxpayers in the…
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As National Debts Pile Up, Tax Evaders Face Greater Scrutiny
NY Times-London- Disputes are raging from Athens to Washington about how to reduce government debt without further damaging already weak economies. But there is at least one thing on which global leaders seem to agree: cracking down on tax havens and tax evasion would help. Tax evasion and compliance was on the agenda of the meeting…
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