A number of tax changes were implemented in the American Taxpayer Relief Act of 2012, signed into law on January 2nd of this year. The Act passed in response to the imminent expiration of the “Bush tax cuts” and other tax regulations originally passed in 2001 and 2003.
The U.S. Department of Justice, Asset Forfeiture and Money Laundering Section (AFMLS) considers asset forfeiture as the “most effective” way to dismantle a criminal organization, which necessarily involves a financial investigation to effectively locate criminally derived assets.
In the past decade, we’ve heard about a myriad of cases involving fraud and other white- collar crimes. In fact, the Federal Bureau of Investigation has identified common fraudulent schemes including Ponzi and pyramid schemes, health care fraud, business fraud and investment fraud.
A ruling affecting American consumers nearly everywhere went into effect on January 27 without much fanfare, but the reaction to it has been anything but quiet. The new compromise ruling, which states that retailers are allowed to charge consumers up to four percent extra to offset credit card swipe fees, has already become controversial.
What’s a better way to start off the New Year than to hear about yet another offshore bank circumventing tax laws?
One of the boldest taxes in Obamacare, aside from the individual mandate of course, is the excise tax on so-called “Cadillac Plans”. This tax effectively makes it illegal to buy better coverage by imposing a 40% (yes, FORTY percent!) tax on any plan with a premium in excess of what the government thinks is “fair”.
Well, you heard it from the Supreme Court – it’s a tax. Of course, you didn’t hear it from Obama (“it’s not a tax”), or from his administration. We almost heard it from former Speaker of the House (“it’s a ta… penalty”), but she corrected herself. Now that the Patient Protection and Affordable Care Act has been upheld and reclassified as a tax, what does it mean for the taxpayers?