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The second panel of the morning of the 40th Annual Rocky Mountain Securities Conference was SEC Enforcement in 2008, with Linda Thomsen (Director, SEC Division of Enforcement), Walter Ricciardi (Deputy Director, SEC Division of Enforcement), Lou Mejia ( SEC Chief Trial Counsel), Dan Shea (SEC Former Regional Director, currently with [...]
A couple of weeks ago when I was whining about discussing how expensive groceries were getting, I mentioned that at least here in Texas we don't have to pay state or local sales taxes on food items, or at least what the state and localities deem as a food [...]
As part of the 40th annual Rocky Mountain Securities Conference, former U.S. District Court Judge Stanley Sporkin presented a keynote address on current issues in professional ethics titled “Ethics in a Turbulent Marketplace.” With participation from SEC Regional Director George Curtis, Baker Botts LLP’s James Doty, and Gibson, Dunn & [...]
A reader poses a Section 1031 problem:
After selling property using a qualified escrow arrangment, Taxpayer A contracts to purchase replacement like kind property. The contract requires the seller, Taxpayer B, to replat the property, but that doesn't happen and the deal doesn't close in 180 days.Can Taxpayer A [...]
Robert Schulz, head of the tax protest organization "We the People Foundation," says he has turned over to IRS the names of 225 people who received "legal termination of tax withholding" kits from the foundation. From PostStar.com:
Schulz, the founder of the We the People Foundation and We the [...]
Comment letters can often be difficult to get a handle on. Some people, like my friends at Disclosure Insight, (formerly SEC Insight) put a lot of credence in them. Others, say they’re interesting, but not particularly informative.
I was thinking about this because late Friday, Las Vegas [...]
Tax officials have a message for Rev. Al Sharpton: pay up. The IRS has filed personal liens against Sharpton totaling nearly $1 million (the actual value of the lien as of last spring was $931,397). Sharpton also owes nearly $365,558 to the City of New York for [...]
The IRS has lost its second district court case seeking workpapers used in developing the tax accrual for a public company's financial statements.
According to Tax Analysts ($link), this decision involved 20 documents totaling 151 pages; another 260,000 pages were turned over to the IRS. Tax Analysts reports:
The [...]
The IRS ha issued a "fact sheet" to remind taxpayers that they need to report business income:
Small business owners and self-employed taxpayers must report on their tax returns all income received from their businesses unless specifically excluded by law. In most cases, business income will be in the [...]
Last Thursday and Friday were a couple of days in Denver that securities lawyers truly appreciate. On Thursday, May 8, the SEC Historical Society held a reception at the Denver Regional Office to celebrate the 75th Anniversary of the Securities and Exchange Commission. While the SEC was created in 1934, [...]
The Colorado Bar Association and SEC went for the big guns to celebrate 40 years of this annual conference, held May 9th in Denver. Chairman Cox, Senator Sarbanes and former (and longest-serving) Chairman Levitt formed the opening panel, chaired by this blog’s own Professor Jay Brown.
The theme of the [...]
Taxpayer asks:
Hi TaxGirl. I’ve searched all over the Internet and the IRS.gov website and I can’t find an answer to my question, so I’m hoping you can answer it:
My sisters don’t currently have healthcare insurance, so my mom is helping them with some of their healthcare bills and expenses. [...]
Financial news in 2008 – from French bank Société Générale’s $7 bn loss to millions of write-downs at other major financial institutions amid hefty subprime losses – underscores the importance for financial institutions of implementing effective governance, risk and compliance (GRC) strategies.
But GRC is a complex [...]
Earlier today I reminded folks of how they can lend a hand to disaster victims. Here's part two of the process: Getting help directly from the IRS after a catastrophe.
Unfortunately, I've had to discuss this topic way too many times here on the ol' blog (most recently here), [...]
