The Supreme Court ruled 5-3 that New York City government lacks standing under the Racketeer Influenced and Corrupt Organizations Act (“RICO”) to sue a cigarette vendor from tax-free sales online. … Continue reading “U.S. Supreme Court Rules City Lacks Standing to Sue for Online Cigarette Sales”
Category: Tax
Pet Care Tax Deduction Proposed
A Michigan legislator has proposed a bill to allow up to a $3,500 tax deduction for pet care. Rep. Thaddeus McCotter says that the bill is needed to prevent pet … Continue reading “Pet Care Tax Deduction Proposed”
Most U.S. Companies Pay No Income Tax
Congress has reported that between 1998 and 2005, two-thirds of U.S. corporations paid no federal income tax. According to a study by study by the Government Accountability Office (GAO), roughly … Continue reading “Most U.S. Companies Pay No Income Tax”
Federal Tax Changes Reduce Car Donations
New tax laws passed in 2004 changed the rules to generally limit vehicle donation deductions of over $500 to either the actual proceeds from a vehicle’s sale or the vehicle’s … Continue reading “Federal Tax Changes Reduce Car Donations”
9th Circuit Rejects Texaco Request for Tax Refund
The 9th U.S. Circuit Court of Appeals today said Texaco was not entitled to receive a tax refund of more than $101 million that the company felt should be returned … Continue reading “9th Circuit Rejects Texaco Request for Tax Refund”
Tax Rebate Delivery Now Underway
The Internal Revenue Service began distributing payments today to taxpayers who are eligible to receive rebates as part of The Economic Stimulus Act of 2008. Rebates are going out ahead of … Continue reading “Tax Rebate Delivery Now Underway”
Congress Approves Ban on Internet Access Taxes
The House of Representatives voted 402-0 today to pass a bill which would extend a moratorium on state and local Internet access taxes through 2014. The Senate unanimously approved the measure last week. … Continue reading “Congress Approves Ban on Internet Access Taxes”
IRS and Department of Justice Sue Jackson Hewitt Franchises
The IRS announced on Tuesday that it has filed suit against five Jackson Hewitt franchises for fraudulent tax return preparation practices. The government alleges that illegal practices by the defendants, such … Continue reading “IRS and Department of Justice Sue Jackson Hewitt Franchises”