STRASBOURG, France (Reuters) - The European Union's executive proposed a bloc-wide tax on financial transactions it said would raise 57 billion ($77.5 billion) a year, but banks described the plan as nonsense and Britain said it would only support a global levy. The EU's executive European Commission formally adopted on Wednesday [Sept. 28] plans for a financial transaction tax from January 2014, which will need unanimous approval from EU states and which it said it hoped the rest of the world will copy.
WASHINGTON, Oct. 20, 2011 /PRNewswire/ -- With a growing international call for a tax on financial transactions to heal global economies, National Nurses United will bring the demand to the doorstep of the U.S. Treasury Department November 3 calling on Treasury Secretary Timothy Geithner and the Obama administration to get on board, and end lobbying efforts at home and abroad against a Wall Street tax. The Washington protest begins with Lafayette Square rally at 11:30 a.m. RNs are also asking people to call the White House, 202- 224-3121, and demand the Obama administration support the global movement for a financial transaction tax (FTT).
Whether doomed from the start or a victim of changed circumstances, it's not unusual to find that a client's irrevocable life insurance trust (ILIT) doesn't work anymore. First and foremost, as with any transaction that could be scrutinized by the IRS as a disguised gift, the sale transaction terms must be commercially reasonable. This means they must be what you would reasonably expect to see in an arms-length transaction between unrelated parties. After determining the financial terms of the transaction, the real fun begins -- guiding your client through the tax issues. Here are some of the major ones and how to deal with them. Among the best-recognized tax issues is the "transfer for value" rule. There are several ways to make the new ILIT a "grantor trust." One is to give the granto...
Like any other financial transaction, a tax refund that sounds too good to be true probably is -- and it could be criminal to boot, says the new special agent in charge of the Internal Revenue Service's Pittsburgh office. Agent Timothy Marsh said a focus of the office this year will be cracking down on paid tax preparers who deliberately falsify clients' returns.
Congress can't seem to decide if it wants to save Wall Street or kill it. First, billions of taxpayer dollars were doled out in a bailout frenzy for the financial industry. Now, various congressional Democrats and their allies want to impose a new tax that would hit investment firms hard.
... mortgage-backed security (CMBS) transactions. A dearth of financing alternatives is available t... statement, rent rolls and borrower financial statements; a property leasing and management plan...
WASHINGTON, Nov. 3, 2011 /PRNewswire-USNewswire/ -- Capping many months of campaigning across the U.S., nurses from National Nurses United (NNU) - the largest union of registered nurses in the country - brought their urgent message for a financial transaction tax (FTT) to Washington, D.C., today, rallying in front of the White House and Department of Treasury. It was the second time since June that NNU brought its demands to the nation's capital. To view the multimedia assets associated with this release, please click http://www.prnewswire.com/news-releases/nurses-from- four-continents-urge-global-finance-tax-we-are-running-out-of-time- 133209313.html
CASE DESCRIPTION This case considers the financial accounting and tax issues associated with a loan made by a manufacturing company to the Atlanta Braves baseball team. The case has a difficulty level of four/five and is appropriate for an upper level financial accounting class or tax class. It is designed to be taught in one hour and requires two hours outside preparation by students. CASE SYNOPSIS A manufacturing company loans the Braves money at an interest rate below market. The Braves donate 20 season tickets to the company. Students are required to evaluate this transaction to determine: (1) how it should be treated for financial reporting purposes by the lender; and (2) the proper tax treatment of the transaction by the lender. The case demonstrates how financial accounting issue...
WASHINGTON, Nov. 1, 2011 /PRNewswire-USNewswire/ -- National Nurses United, joined by the AFL-CIO and community activists, including participants from the Occupy Wall Street movement, will protest outside the U.S. Treasury Department in Washington Nov. 3 to press President Obama and Treasury Secretary Timothy Geithner for a meaningful financial transaction tax (FTT) to help heal the U.S. and join the growing global movement for an FTT. To view the multimedia assets associated with this release, please click http://www.prnewswire.com/news-releases/nurses-from- four-continents-nov-3-to-step-up-call-on-president-obama-other- world-leaders-for-tax-on-wall-street-132969168.html
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