Tax

Chicago Appeals Judge’s Ruling on Real Estate Transfer Tax Increase for Homelessness Funding

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Chicago, Illinois – The city of Chicago is preparing to challenge a recent ruling by Circuit Court Judge Kathleen Burke that struck down a proposal by Mayor Brandon Johnson to increase the real estate transfer tax on high-end property sales. The mayor’s plan aimed to generate $100 million annually in revenue to combat homelessness. Following the judge’s declaration that the binding referendum on the tax increase was invalid, the city swiftly filed a motion requesting a stay on the ruling while it appeals. In its motion, the city argues that there is a substantial case … Read more

Coalition MPs Brace for Potential Federal Election as Opposition Leader Dutton Challenges Labor’s Tax Cuts

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Canberra, Australia – Coalition MPs in Australia are being advised to prepare for a federal election later this year. Opposition Leader Peter Dutton is urging members of the Liberal and Nationals parties to unify and display discipline in the face of a battle with the Labor Party over personal tax cuts. Dutton informed the Coalition party room today that they should expect an election in the near future and be ready to challenge the government’s plans for redistributing wealth through tax changes, particularly regarding negative gearing on investment properties. While Prime Minister Anthony Albanese dismissed … Read more

Former Freshfields Partner Receives €2mn Severance Pay for Involvement in Multiyear Dividend Tax Fraud: Exclusive Report

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Frankfurt, Germany – A former partner at international law firm Freshfields Bruckhaus Deringer has been sentenced to three-and-a-half years in jail for his involvement in a multiyear dividend tax fraud. The partner, Ulf Johannemann, reportedly received over €2 million in severance pay when he left the firm by mutual consent in late 2019, following his arrest in connection with the case. The severance package, which exceeded Johannemann’s annual salary of €1.9 million, was previously undisclosed. Johannemann’s conviction came as a result of his endorsement of share-swapping deals that deceived German tax authorities into refunding dividend … Read more

Tax Season is Here: What You Need to Know to File Successfully

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Rochester, Minnesota – As tax season approaches, many individuals find themselves uncertain about how to navigate the process, especially with changing tax laws. Regardless of personal preference, taxes are a certainty in life. Rochester resident Rod Langevin expresses concern about a potentially larger tax liability this year, leading him to consider seeking professional assistance. So, whether undertaking tax filing independently or with the help of a professional, understanding key aspects is crucial. This includes gathering important documents such as W-2s and 1099s, as well as having a copy of the previous year’s tax return handy … Read more