I know it has been awhile since my last post. For the past few weeks I have been in bar exam study mode. Now that the exam is over, I will be back to posting the tax news you yearn for. For now I will take the liberty to welcome myself back to the tax blogging world with the “Welcome Back Kotter” theme song.
According to Tax Watchdog, Chamillionaire (Hakeem Seriki) and his wife owe the federal government more than $184,000 in back taxes. The IRS filed the lien against him and his wife last year on November 23rd with the Montgomery County Clerk in Texas for 2007 income taxes. The release of these tax problems comes shortly after his Houston, Texas mansion was repossessed for failure to pay the mortgage.
Chamillionaire is known for his song Ridin’ which you can listen to below.
According to PC Mag.com, Apple has released its pricing for its international versions of the iPad. It has been reported that a number of international purchasers are upset with the higher costs of the product relative to U.S. Prices. However, as Apple’s CEO, Steve Jobs reportedly told a U.K. customer, if you subtract out the 17.5 % VAT (Value-Added Tax) from the cost and do some dollar conversions, the price should be the equivalent of the U.S. price.
In Canada, for example, the price on the Wi-Fi iPad ranges from $549 to $749 Canadian; prices for the 3G version range from $679 to $879. In the U.K., where the government tacks on a 17.5 value-added tax (VAT), the Wi-Fi iPad is priced from £429 to £599, while the 3G version range from £529.00 to £699.00.
In the U.S., of course, prices range from $499 to $699 for the Wi-Fi model, and from $629 to $829 for the iPad 3G. That means that U.K. buyers are paying a 27 percent premium for the high-end 3G model, on top of what they might be paying for wireless plans from O2 and Orange.
The IRS issued statistics today, covering the period through March 12, that show that while the overall number of tax returns filed this year is down slightly, while the percentage of returns using e-file remains strong. The IRS release shows that more than 82 percent of the 69 million returns received this year have come in via e-file. Below is a table detailing the numbers.
2010 FILING SEASON STATISTICS
Cumulative through the weeks ending 03/13/09 and 03/12/10
I posted this about a month ago however, the deadline for submitting an application for admittance to a 2010-2011 LL.M Tax Program is approaching fast for some schools. Here are the important application deadlines for some of the programs.