Irwin Schiff, an antitax crusader, and an associate were found guilty on October 24, 2005 of multiple charges including conspiracy, tax evasion and tax fraud. Mr. Schiff, 77, who argues that paying taxes is voluntary, was handcuffed and led from United States District...
The New Jersey Supreme Court held on October 25 in a 4-3 decision that the state’s constitution requires that same-sex couples be granted the same legal rights as married heterosexual couples. However, the dissenters argued the majority didn’t go far enough in...
The new tax law requires an organization to meet the following new rules in addition to other non-profit legal requirements: Services – Must provide credit counseling services tailored to the specific needs and circumstances of the consumer; Loans – Cannot make loans...
A bill collector who cries wolf, making idle threats about how it could file lawsuits or refer a case to an attorney without intending to pursue either avenue, has more to worry about than not being taken seriously by debtors. According to the Philadelphia-based 3rd...
New Jersey may apply its corporation business tax notwithstanding a taxpayer’s lack of a physical presence in the state, according to the New Jersey Supreme Court. In a per curiam decision with national significance, the state high court held that the U.S. Supreme...
The federal government may not tax the money plaintiffs receive as compensation for emotional distress and other intangible injuries, a federal appeals court said Tuesday. The U.S. Court of Appeals for the D.C. Circuit struck down as unconstitutional a portion of the...
Like most laws containing tax provisions, the title of the newly passed Pension Protection Act of 2006 only tells part of the story. The legislation, which President Bush signed on August 17, 2006, does contain numerous provisions involving pension plans, but it also...
The American Jobs Creation Act of 2004 created section 6306 of the Internal Revenue Code allowing private collection agencies to collect taxes. Later this year private collection agencies will start calling to cllect for the IRS. If you are contacted by a collection...
The new Tax Law effective July 17, 2006 requires taxpayers to pay a NONREFUNDABLE 20% of the amount they offer in an Offer In Compromise with the offer. If they also offer to make monthly payments then they must begin the monthly payments. The 20% with the OIC and the...
IRS Announces Hybrid Cars that Qualify for a Tax Credit Last year’s Energy Policy Act replaced the $2,000 clean-fuel burning deduction with a tax credit that is potentially worth much more. The tax credit for hybrid vehicles applies to vehicles purchased or placed in...