Bandit Gang Writ Large

Prosecutors Move To Seize Jesse Jackson, Jr.’s Homes

"Federal prosecutors asked for permission Friday to seize the homes of former Rep. Jesse Jackson, Jr. (D-IL) and his wife, former Chicago Ald. Sandi Jackson, in addition to an IRA of Jackson's with an almost $80,000 balance, the Chicago Tribune reported. According to the Tribune, prosecutors asked a judge in U.S. District Court for the District of Columbia to let them seize the Jacksons' homes in both Chicago and Washington, D.C.'s DuPont Circle. Jackson Jr. pleaded guilty in February to misuing hundreds of thousands of dollars from his campaign accounts, while his wife pleaded guilty to filing false tax returns." Continue reading →

Continue ReadingProsecutors Move To Seize Jesse Jackson, Jr.’s Homes

Civil Forfeiture Of Cash: It Could Happen To You

"Owners of property subject to civil forfeiture find themselves in an Alice-in-Wonderland legal landscape where the property seized is accused of a crime, rather than the owner. The owners must follow obscure rules that originate in Admiralty law, with which most attorneys aren’t familiar. Fortunately, you can reduce the likelihood that law enforcement agencies will try to confiscate your cash. The most important precaution is to insure the cash you hold contains no narcotics residues. If you insist on withdrawing new bank-wrapped bills from your bank account, the likelihood of contamination drops considerably. Also, keep a bank withdrawal slip with the cash." Continue reading →

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Congratulations to Gay Americans Who Are Now Eligible for the Tax Code’s Marriage Penalty

"The CBO estimated that gay marriage in all 50 states would increase tax receipts by about $400 million a year if the George W. Bush tax cuts were extended and by about $700 million a year if they were not. Because those tax cuts ended up being mostly extended, the answer is probably somewhere in the middle, but closer to $400 million. The added revenue comes from the 'marriage penalty': Two-earner married couples where each spouse has a similar income tend to be taxed more heavily than they would be if both partners were single." Continue reading →

Continue ReadingCongratulations to Gay Americans Who Are Now Eligible for the Tax Code’s Marriage Penalty

Don’t Leave Home Without This

"Since 1986, the U.S. State Department has been informing the IRS of all persons who renew their U.S. passports using a foreign address. Since passport renewals require an applicant’s Social Security number, this information is also used by the IRS to see if applicants have filed income tax returns. An IRS official speaking in Zurich said a special effort was being made by the agency to track all U.S. citizens who’ve renewed U.S. passports while living in Switzerland. So, now we have two out of control U.S. government agencies that have the ability to track your private financial activity and revoke your ability to travel freely through your U.S. passport." Continue reading →

Continue ReadingDon’t Leave Home Without This

Man Indicted In Scheme To Blackmail Romney Over Tax Returns

"The court document says that Brown never compromised the accounting firm's computer systems, 'and falsely stated that he had stolen tax documents for Willard M. Romney and Ann D. Romney for tax years prior to 2010.' Brown then 'demanded US$1 million converted to 'Bitcoin' and instructed that this sum be deposited in a Bitcoin account for which he provide the account number,' according to the document, to prevent the release of the documents. The letters were printed not on Brown's computer but on a friend's, according to the indictment, as Brown had emailed the person to ask to use their printer, using the excuse that his own printer was out of ink." Continue reading →

Continue ReadingMan Indicted In Scheme To Blackmail Romney Over Tax Returns

Germany: Parliamentary inquiry declares Bitcoins tax-exempt after one year holding time

"Thus, the digital money from the Treasury treated differently than, for example, stocks, bonds or certificates. All of these asset classes are subject to withholding tax of 25 percent plus solidarity surcharge and church tax. In bitcoins falls after a holding period of one year on the other hand, no such tax. The tax exemption of capital gains in Bitcoins findings of a parliamentary inquiry that has provided to the federal government the FDP financial expert Frank Schaeffler and the 'world' exists. 'It is good that investments in Bitcoins is finally legal certainty. Private profits from the sale of Bitcoins are tax-free after one year,' said Schaeffler." Continue reading →

Continue ReadingGermany: Parliamentary inquiry declares Bitcoins tax-exempt after one year holding time

Feds, Anaheim Try to Seize $1.5M Building . . . With No Charges Against the Owner

"Anaheim small business owner Tony Jalali faces the loss of his office building, which is worth $1.5 million, even though he has committed no crime. The city of Anaheim is colluding with federal prosecutors to do an end-run around state laws to take away Jalali’s building because he rented space to medical marijuana dispensaries, even though they operated legally under California law. Jalali is fighting back. Represented by the Institute for Justice, he is challenging the constitutionality of the taking of his land to put an end to the civil forfeiture in the U.S. District Court for the Central District of California in Santa Ana, Calif." Continue reading →

Continue ReadingFeds, Anaheim Try to Seize $1.5M Building . . . With No Charges Against the Owner

Don’t Fall Victim to Hoarding

"Thanks to the courageous Edward Snowden, America now knows the NSA has, for seven years, collected data on many millions of our phone calls, emails and other communications, even when its top officials have testified that it had not. And things look like they are going to get even worse. Hot on the heels of the NSA revelations, now the habitually anti-tax haven and pro-tax Organization for Economic and Community Development (OECD) wants in on the action, by forcing all countries into useless data-hoarding of private information in a very big way." Continue reading →

Continue ReadingDon’t Fall Victim to Hoarding

Starbucks Pays $15.4 Million Corporation Tax, Closes Stores Amid British Backlash

"Starbucks Corp., (SBUX) the world’s biggest coffee chain, said it will pay 10 million pounds ($15.4 million) of U.K. corporation tax this year and in 2014 in response to criticism of its money-losing British business. The company has paid 5 million pounds already and will pay the same amount later this year after forgoing unspecified tax deductions, according to an e-mailed statement. Starbucks, based in Seattle, will also pay 10 million pounds of tax next year. Starbucks said it will close or relocate unprofitable stores, and rely more on franchised or licensed stores rather than company-owned locations to become profitable in the U.K." Continue reading →

Continue ReadingStarbucks Pays $15.4 Million Corporation Tax, Closes Stores Amid British Backlash

New Gold Import Tax In Sri Lanka

"Sri Lanka has announced a 10 per cent tax on gold imports in what observers said was a bid to curb smuggling to India as global markets trading in the precious metal reported sharp price drops to 2010 levels. Earlier this week India — the world’s largest consumer of gold — hiked import duty on the precious metal to eight per cent to stem surging demand and reduce the country’s ballooning current account deficit, as consumers sought to exploit the fall in prices. Local industry watchers say the new tax in Sri Lanka would push up local prices and claimed the government move was aimed at curbing local traders who smuggle gold into India." Continue reading →

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