KEYTLaw

Arizona Asks for 3,000 National Guard Troops, but Gets 30 & 15 Signs Warning People of Drug Cartels & Human Trafficking

On the Net — Thu, 02 Sep 2010 15:09:22 +0000

CNSNews: ““We have a whopping 30 [National Guard troops] this week that are showing up,. . . . But the federal Bureau of Land Management (BLM) has placed 15 signs along a 60-mile stretch of Interstate 8 that links San Diego with Phoenix and Tucson warning travelers of drug cartels and human trafficking operations.” The warning signs and the feds lawsuit to overturn Arizona’s immigration law are the Obama administration’s answer to illegal immigation in Arizona. Here’s the text of warning signs:

“DANGER – PUBLIC WARNING, TRAVEL NOT RECOMMENDED
Visitors May Encounter Armed Criminals and Smuggling
Vehicles Traveling at High Rates of Speed
Stay Away From Trash, Clothing, Backpacks, and Abandoned Vehicles
BLM Encourages Visitors To Use Public Land North of Interstate 8″

If you read this article you are now warned so if you enter the dangerous areas of Arizona, you are taking the risk that something bad might happen.

Property Tax Revenue Increased As Property Values Fell

On the Net — Thu, 02 Sep 2010 14:47:43 +0000

The Tax Foundation: “The Case-Shiller index . . . shows a drop of almost 16 percent in home values across the country between 2007 and 2008. . . . Data on state and local taxes from the U.S. Census Bureau show that most states’ property owners paid more in FY 2008.” Arizona’s ranked 23rd on the list. The 2008 increase in property taxes over 2007 averaged 5.2%. Florida was 1st at 11.7%.

Mickey Mouse, the Estate Tax and Me

On the Net — Thu, 02 Sep 2010 14:40:30 +0000

USA Today has a column written by Abigail Disney, granddaughter of Roy Disney who co-founded the Disney company with his brother Walt. Abigail says that as a person who inherited great wealth like other Disney children, grandchildren and great grandchildren, the federal estate tax is a wonderful thing.

Related posts:A Quick Guide to the Generation Skipping Transfer Tax Repeal of Estate Tax Creates Planning Dilemmas Estate Tax: What You Need to Know for 2010

Joe Jackson Ongoing Thorn in the Michael Jackson Probate

On the Net — Thu, 02 Sep 2010 14:27:24 +0000

The Probate Lawyer Blog: “Even though Michael Jackson’s father was not included as a beneficiary in his will or trust, it hasn’t stopped Joe Jackson from trying to intercede in the legal proceedings surrounding the estate.”

Business Succession Planning With the Four Levels of Ownership and Control

On the Net — Thu, 02 Sep 2010 14:24:35 +0000

Wealth Strategies: “Many family business owners struggle with business succession planning because they cannot envision a suitable way to divide their ownership and control among a diverse group of beneficiaries, some of whom are active in the business and some of whom are not. However, by recognizing that ownership and control actually consist of four separate component levels that can be divided differently among the beneficiaries, a family business owner can more easily conceive of a succession plan that rationally assigns leadership and management powers while equitably allocating the economic benefits of the business.”

Three Judge Panel Rules Divorcing Couple’s Chihuahua is Wife’s Separate Property

On the Net — Wed, 01 Sep 2010 22:14:33 +0000

Texas Lawyer: “On Aug. 25, the 3rd Court of Appeals in Austin issued a memorandum opinion affirming a trial court’s judgment that allowed Brooke Ashley Calder to keep a Chihuahua named Clementine.”

Tiger Gets an Unplayable Lie & Picks Up in Property Settlement – Elin to Get $750 Million Plus Pin Money

Top Ten Reasons for Delays in Processing Exempt Organization Applications

On the Net — Wed, 01 Sep 2010 16:57:50 +0000

If your new nonprofit corporation is considering filing an application with the IRS to become a tax-exempt organization, here’s a must read warning from the IRS:

Number 10. Is there enough financial data? See the instructions to Form 1023 or Form 1024 to determine how much information you need to provide, based on how long your organization has existed.

Number 9. In what month does the annual accounting period end? Applications should indicate the end of their fiscal year. It is a good idea to check for consistency. Does the fiscal year ending date stated on the application agree with the fiscal year ending date stated in the by-laws, on the financial statements, and on any prior returns filed?

Number 8. Did you provide the required information on the principal officers and board of directors? Applications should list the following information concerning the governing officials:

names,
mailing addresses,
titles and positions,
annual compensation.

Number 7. Did you provide enough information on the activities to show us how your exempt purpose will be achieved? Please don’t restate your purpose, but explain the specific activities you will carry on to achieve that purpose. You should consider a “who, what, when, where and why” approach. You should explain past, present, and planned activities. If you haven’t started an activity yet, develop your plans well enough that we can have a clear understanding of how it will operate. You are not required to describe activities that are merely speculative at this time.

Number 6. Did you complete all required schedules? You should check the line items on the financial statements. Some lines require supporting schedules.

Number 5. Did you complete all required pages? To make a determination, the information contained on the pages and schedules of Form 1023 and Form 1024 is necessary. On Form 1023, there are various schedules and pages that must be filled out for churches, schools, hospitals, scholarships, supporting organizations, and certain other organizations.

Number 4. Did a director, trustee, principal officer, or other authorized individual in a similar capacity sign the Form 1023 or Form 1024? Generally, a principal officer is the president, vice president, secretary, or treasurer. The person signing the application must indicate his or her title or other authority to sign. A taxpayer’s representative may not sign the application. Neither a stamped signature nor a faxed signature is permitted.

Number 3. If you have adopted by-laws, did you submit a copy? You need to provide a copy of your by-laws, code of regulations, or any other document that sets out the organization’s rules of operation, but only if adopted.

Number 2. Did you attach a complete copy of your organizing document and all amendments? If the applicant is a corporation, this would be a copy of the articles of incorporation that shows it has been filed with and approved by the state. If the applicant is not incorporated, it should have a similar organizing document. This could be a constitution, articles of association, or by-laws. Whatever the document is called, it must at the minimum state: the legal name, the purposes, and the date of adoption. The document should be signed by at least two members of the organization. A trust document must be signed by the trustees and show the date of formation. For section 501(c)(3) applicants, the organizing document must comply with the organizational test for exemption.

The Number 1 reason for delays in processing exempt organization applications is . . . INCORRECT OR NO USER FEE!

See our user fee page for more information.

Now that you know the ten most common pitfalls in the EO application process, we hope you can avoid them. If your application is completed correctly initially, and sent with all required documents and schedules, there is a good chance your organization could be recognized as exempt with no further contact. If there is contact, the agent can address the technical issues that need to be resolved without taking up your time trying to just get a complete application.

Divorcing Husband & Wife Owners of LA Dodgers Fighting in Court over Ownership of the Team

On the Net — Wed, 01 Sep 2010 16:08:08 +0000

Bloomberg: “Frank McCourt’s claim to be the sole owner of the Los Angeles Dodgers was challenged today by his estranged wife in a divorce trial.”

Related posts:LA Dodgers Owners’ Divorce Fight Sheds Light on Finanial Problems Owner of LA Dodgers Pays No Tax on $108 Million Bankruptcy Plus Divorce Equals Major Drama

U.S. Files New Lawsuit on Arizona Immigration Issue

On the Net — Wed, 01 Sep 2010 15:05:44 +0000

Washington Post: “The Justice Department filed another lawsuit against immigration practices by Arizona authorities [Phoenix area community colleges], saying Monday that a network of community colleges acted illegally in requiring noncitizens to provide their green cards before they could be hired for jobs.”

Can it get more bizarre? The federal government required by U.S. law to prevent people from entering and staying in the U.S. illegally sues because employers ask for proof that job applicants are legally in the U.S. The Obama administration is now actively preventing employers from complying with the federal law.

According the the I-9 Employer Handbook, Employers are required by Section 274A of the Immigration and Nationality Act

“to hire only persons who may legally work here: citizens and nationals of the United States and aliens authorized to work. To comply with the law, you must verify the identity and employment eligibility of anyone you hire, and complete and retain a Form I-9″

The following is from the website of the U.S. Citizenship & Immigration Services:

“Employment Eligibly Enforcement: All U.S. employers must complete and retain a Form I-9 for each individual they hire for employment in the United States. This includes citizens and noncitizens. On the form, the employer must examine the employment eligibility and identity document(s) an employee presents to determine whether the document(s) reasonably appear to be genuine and relate to the individual and record the document information on the Form I-9. The list of acceptable documents can be found on the last page of the form.

Checkout this statement from the instructions to the I-9 form employers must complete and send to the feds for new hires:

“It is illegal to discriminate against any individual (other than an alien not authorized to work in the United States) in hiring . . . .”

Arizona Sheriff Says Mexican Drug Cartels Control Parts of Arizona

On the Net — Wed, 01 Sep 2010 14:28:27 +0000

Washington Times: Pinal County Sheriff Paul Babeu says, “”Mexican drug cartels literally do control parts of Arizona . . . , “They literally have scouts on the high points in the mountains and in the hills and they literally control movement. They have radios, they have optics, they have night-vision goggles as good as anything law enforcement has’.”