United States: Kentucky Businessman Pleads Guilty To Tax Evasion, Fraud, Bribery And Related Crimes In Connection With $53 Million Tax Scheme And Fraud

In a press release issued on December 23, 2014 by the Department of Justice, Tax Division, it was announced that Wilbur Anthony Huff, a Kentucky businessman, pleaded guilty in Manhattan federal court to various tax crimes that caused more than $50 million in losses to the Internal Revenue Service, and a massive fraud that involved the bribery of bank officials, the fraudulent purchase of an insurance company, and the defrauding of insurance regulators.

Huff, 53, […]

By |December 30th, 2014|

Developing Trends In Tax-Driven Rectification: Case Comment On Alberta Court Of Queen’s Bench Decision In Graymar Equipment (2008) Inc v Canada (Attorney General)

The Ontario Court of Appeal’s decision in Juliar et al v Canada (Attorney General)1 is considered to be the leading Ontario case on the availability of rectification for tax mistakes. Some commentators have observed that the law on rectification in the context of tax mistakes may be developing independently from, and more broadly than, rectification generally.2

Whether it is or not, and, in particular, whether the analysis and holding in Juliar is consistent with the […]

By |December 30th, 2014|

United States: Tax Extenders For The 2014 Tax Year: A Holiday Tax Gift From D.C.

Just days before the 2014 tax season draws to a close, new legislation was enacted in D.C. to provide a one-year retroactive extension for over 50 tax benefits and incentives which had expired in 2014. The one-year extension is only applicable from January 1, 2014 through December 31, 2014. Effective January 1, 2015, these tax incentives will disappear unless new legislation is passed. Below is a list of key tax extenders for businesses and […]

By |December 30th, 2014|