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thinkahol *

Wonder how giant corporations evade paying billions in taxes? Here's the one ... - 0 views

progressleague.org/...corporations-avoid-taxes-video

Wonder how giant corporations evade paying billions in taxes? Here's the one video clip you need to see. « Progress League

shared by thinkahol * on 01 Jul 11 - No Cached
  • thinkahol * on 01 Jul 11
     
    As the New York Times has detailed, "Some of the nation's largest corporations have amassed vast profits outside the country and are pressing Congress and the Obama administration for a tax break to bring the money home." Yet, across America, thousands of teachers are being laid off, programs to help feed needy children have been eliminated, and Medicare is under attack. It's time for us to fight back and tell Congress that corporations need to pay their fair share. The first step? Understanding the complex accounting tricks and loopholes giant corporations use to evade taxes. Here's the video that explains it all:
Skeptical Debunker

Tax Bomber Stack Wanted Independent Contractor Status to Avoid Paying Taxes - 0 views

blog.pappastax.com/...r-status-to-avoid-paying-taxes

Joseph Stack independent contractor tax implications lawyer analysis

shared by Skeptical Debunker on 22 Feb 10 - Cached
  • Stack was upset that §1706 did precisely what it was designed to do: Deprive him of the chance to exploit independent contractor status to avoid paying taxes through non-filing or through the understatement of income, overstatement of deductions, and avoidance of income tax withholding. In spite of the overwhelming advantages attendant to employee status, Joe Stack desperately wanted to be treated as an independent contractor for one simple reason: It would have made his tax protesting easier.4 Footnotes: ¹  We have met many taxpayers who worked as independent contractors for years without so much as a peep of protest until they realized, ex post facto, that it might have better for them to have been treated as employees. In our experience, workers tend to be content with their independent contractor status until one of the following happens: They get fired or quit They get hurt on the job They get sued for something they did while on the job They need a bank loan (and employment verification)  ²  If Stack had been an independent contractor and was subsequently “fired” by his principal, my hunch is it would have taken him less time to file a claim for unemployment compensation than it takes Apolo Ohno to finish short track. ³  Indeed, §1706 was included in TRA ‘86 because the CBO had estimated that the government was losing up to 30% of taxes because independent contractors were either not reporting all of their income on their tax returns or were claiming fraudulent or questionable deductions against that income. 4   Like all tax protestors, Stack knew that once the IRS had collected his taxes through payroll withholding it would never give it back to him based on previously refuted tax protestor arguments. Consequently, his only chance of avoiding taxes was to control his own tax payments and then use his frivolous arguments to evade or at least defer paying taxes.
  • Skeptical Debunker on 22 Feb 10
     
    Enacted in 1978, §530 is a safe harbor law that lists several conditions which if met allows workers to be treated as independent contractors rather than employees.\n\n Joe Stack was compelled to burn his house down, murder his wife and children and fly his airplane into the side of a federal building because 24 years ago Congress passed and President Reagan signed into law the Tax Reform Act of 1986 that added sub-section (d) to §530 thereby excluding engineers and computer programmers from the safe harbor provisions of §530 .\n\nThe passage of this law (§1706 of the Tax Reform Act of 1986) did not as some have suggested make all engineers and computer programmers employees, it merely made them subject to the 20 factor common law test historically used for determination of a worker's status. In other words, had Joe Stack been truly independent from the company or companies to whom he provided services, he could have, should have and would have been treated as an independent contractor rather than an employee.
Skeptical Debunker

Switzerland Keeping the Secrets of Alleged Tax Evaders - Yahoo! News - 0 views

news.yahoo.com/...08599196842500

Swiss banks tax cheaters

shared by Skeptical Debunker on 07 Mar 10 - Cached
  • Pick a dictator, almost any dictator - Cuba's Fulgencio Batista, the Philippines' Ferdinand Marcos, Haiti's Papa and Baby Doc Duvalier, the Shah of Iran, Central African Republic Emperor Jean-BÉdel Bokassa - and they all have this in common: they allegedly stashed their loot in secret, numbered accounts in Swiss banks, safely guarded by the so-called Gnomes of Zurich. This association - of bank secrecy and crime - has been fed into the public's imagination by dozens of books and movies. It's a reputation that rankles the Swiss, who have a more benevolent view of their commitment to privacy - one that happens to extend to tax privacy. Don't ask, because we won't tell. But the dramatic federal investigation of Switzerland's UBS has blown the lid off bank secrecy - and revealed how Swiss banks abet tax evasion on a far more widespread, if more banal, level. Over the past two decades, these secret banking services have been peddled progressively downmarket - first to the lesser-known fabulously wealthy, then to just the wealthy; more recently, private bankers have been tripping over themselves soliciting business from doctors, lawyers and other folks who are what the biz generally calls "high net worth" individuals. "The IRS has been concerned for decades that a combination of a global economy, the Internet, offshore banking, was really going to take offshore tax evasion from the old so-called 'gentlemen's sport' to tax evasion for the masses," says Mark Matthews, a former deputy IRS commissioner and now a tax attorney with Morgan, Lewis & Bockius LLP.
  • Skeptical Debunker on 07 Mar 10
     
    The federal investigation into UBS, which led to a $780 million fine and an agreement to turn over the names of more than 4,450 suspected tax cheats, is now in tatters after Swiss courts ruled against the executive-branch deal. To get around it, a special law has been proposed to accomplish the handoff, but that may not get anywhere in the legislature either. One outcome is already known: tax evasion had become a key service of the Swiss economy, not some isolated event. "They have been outed completely because a very large chunk of their business has been shown to include people cheating on taxes," says Jack Blum, a tax-haven expert. Being "reasonably conservative," he estimates 30% of Swiss banking is related to tax evasion, a figure that jibes with recently released bank data. These revelations come as the financial meltdown has punched a huge hole in projected revenues for governments, which are suddenly a whole lot less tolerant of tax cheats. That's particularly true in Germany, whose wealthy account for a significant portion (at least 10%) of the $1.8 trillion in Swiss banking assets. That translates into hundreds of millions in lost revenue and is the reason the German Finance Minister recently thundered, "There's no future for bank secrecy. It's finished. Its time has run out." The Swiss are not going to be so easily convinced. The Swiss government has already warned that it will not cooperate with German authorities if they go ahead with plans to purchase purloined data about Germans with Swiss bank accounts.
nalmeida75

Berlusconi - 0 views

I wrote a little piece on my blog about Italy's PM and his ability to evade legal responsibility and preserve in power. Check it out and leave comments: http://nalmeida75.wordpress.com/2009/10/13/...

Berlusconi Machiavelli Borgia Mafia Bossi Network Italy Politics Mills

started by nalmeida75 on 19 Oct 09 no follow-up yet
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