Tax

  • September 28, 2010

    Bill To Keep Jobs In US Hits Snag In Senate

    The U.S. Senate failed Tuesday to move forward with a bill aimed at keeping U.S. companies from moving jobs and manufacturing offshore by offering tax perks to employers that replace foreign workers with American ones and raising taxes on companies that import goods made by foreign subsidiaries.

  • September 27, 2010

    IRS Loosens Corporate Tax Disclosure Requirements

    The U.S. Internal Revenue Service has said it plans to loosen up requirements for companies that will have to disclose information about their reported tax savings under a new rule.

  • September 24, 2010

    Convicted Tax Fraudster Denied Acquittal, New Trial

    A federal judge has shot down a request to acquit former Bank One Corp. executive John Ohle of convictions on charges of tax evasion and conspiracy stemming from an alleged scheme that netted him more than $10 million.

  • September 24, 2010

    Calif. Reps Call For Probe Of Biovail-Valeant Deal

    A pair of California lawmakers is asking the U.S. Department of Justice and the Securities and Exchange Commission to investigate the proposed $3.2 billion merger between U.S.-based Valeant Pharmaceuticals International and Canada's Biovail Corp., saying the deal takes advantage of an international tax treaty.

  • September 24, 2010

    US Stays On Sidelines In Chiquita FCA Suit

    The U.S. government has decided not to intervene in a qui tam False Claims Act lawsuit brought against Chiquita Brands International Inc. by a former employee who has accused the company of submitting false entry invoices to U.S. Customs and Border Protection and then firing him after he raised concerns about the practice.

  • September 22, 2010

    DOJ Targets $268M Hedgeloan Securities Plot

    The U.S. Department of Justice has sued three East Coast investment firms in an effort to shut down what the agency described as a nationwide tax and loan scheme that involved the disguised sale of more than $268 million in securities.

  • September 21, 2010

    Octogenarian Ex-UBS Account Holder Gets Probation

    A federal judge on Tuesday sentenced a retired watch seller to one year of probation for hiding nearly $42 million in an overseas account held by UBS AG.

  • September 21, 2010

    Class Cert. Denied In H&R Block Warranty Action

    A federal judge has blocked plaintiffs' bid for class certification in a suit accusing H&R Block Tax Services Inc. of deceptive marketing for selling an extended warranty on its services that customers didn't really need.

  • September 20, 2010

    3 More Sentenced For Roles In Tax Scam

    A federal judge has sentenced three people to time behind bars for their alleged roles in a scheme to sell sham programs that purported to help purchasers avoid paying taxes and duck credit card debt.

  • September 17, 2010

    Senate Votes Down Biodiesel Tax Credit Extension

    The U.S. Senate has rejected an amendment to a small-business bill that would have extended a popular tax credit for biodiesel fuel makers, drawing ire from lawmakers and others who supported the measure.

  • September 17, 2010

    UBS Tax Dodger Sentenced To 1 Year In Prison

    A federal judge on Friday gave a one-year prison sentence to Federico Hernandez, a former investment manager who used Swiss bank accounts held at UBS AG to hide $8.8 million from the tax man.

  • September 17, 2010

    Ukraine Fights Armenian Booze, Cigarette Fees In WTO

    Ukraine is seeking to haul Armenia before the Dispute Settlement Body of the World Trade Organization for allegedly charging improperly high taxes and duties on imported cigarettes and alcohol.

  • September 16, 2010

    Ex-Mercury CFO Pleads Guilty In Backdating Scheme

    Mercury Interactive Corp.'s former chief financial officer has pled guilty to tax evasion in relation to a stock options backdating scandal that caused the company to shell out $117.5 million to placate angry shareholders.

  • September 16, 2010

    Grassley Urges Obama To Pick DOJ Tax Chief

    Sen. Chuck Grassley, R-Iowa, who did not support President Barack Obama's nominee for the top post at the U.S. Department of Justice's Tax Division, has issued a statement criticizing the administration for leaving the position vacant.

  • September 16, 2010

    Lawyers Sue Accounting Firm Over Underpaid Taxes

    Half a dozen Weinstein Smith LLP lawyers have sued an accounting firm for more than $500,000 in underpaid New York City taxes and interest, alleging the accountants improperly treated them as partners instead of employees.

  • September 15, 2010

    White House Backs Worker Misclassification Bill

    The White House is throwing its weight behind new legislation from Sen. John Kerry, D-Mass., and Rep. Jim McDermott, D-Wash., that would close a tax loophole allowing businesses to misclassify workers as independent contractors.

  • September 14, 2010

    Oil, Gas Cos. Hang On To Tax Deduction

    A measure that would have repealed a tax deduction for certain U.S. natural gas and oil companies failed to clear a Senate vote Tuesday, following a warning from the energy industry that the move would depress growth in new energy jobs.

  • September 14, 2010

    Quellos Execs Cop To $240M Tax Shelter

    The founder and a former top executive of investment management firm Quellos Group LLC have pled guilty to charges related to a tax shelter that allowed wealthy clients to avoid more than $240 million in taxes.

  • September 7, 2010

    Sonnenschein Removed In BDO Tax Evasion Case

    A judge has disqualified Sonnenschein Nath & Rosenthal LLP from representing Denis Field, the former chief executive officer of BDO Seidman fighting charges that he helped run a scheme to sell illegal tax shelters.

  • September 7, 2010

    Priceline, Others Settle Fla. Tax Dispute For $6.5M

    A federal judge has preliminarily signed off on a $6.5 million settlement in a suit between a class of Florida counties and a slew of travel websites — including Priceline.com Inc. and Expedia Inc. — accused of dodging hotel occupancy taxes.