RealEstateRama Laws & Taxes
Inhofe, Lankford Join 41 Senators in Encouraging Administration to Abandon Proposed Estate Tax Regulations
U.S. Sens. Jim Inhofe and James Lankford (R-Okla.) joined 41 Senate Republicans on Wednesday in sending a letter to Treasury Secretary Jacob Lew encouraging the Treasury Department to abandon proposed regulations that would significantly increase the estate tax burden on family farms and businesses. The proposed regulations, if finalized, would contradict long-standing legal precedent and greatly discourage families from continuing to operate and grow their farms and businesses for eventual transfer to future generations
Congressman Steve Russell (OK-5), a member of the Oversight and Government Reform Committee, released his fourth edition of Waste Watch. Like the three editions released in 2015, the February 2016 publication singles out examples of government programs that, while possibly well-intentioned, ultimately wasted taxpayer funds.
WASHINGTON, D.C. - June 27, 2012 - (RealEstateRama) -- A new report from the Government Accountability Office (GAO) found that thousands of home-buyers with significant tax debt were given one-time mortgage help under the American Recovery and Reinvestment Act (ARRA), despite federal rules that make tax cheats ineligible for federal mortgage insurance. The report found that “many individuals with tax debt take advantage of government programs, such as federal loan insurance, thereby reaping benefits from these programs while failing to pay their own taxes.” The report also found tax cheats that took advantage of the program were two-to-three times more likely to default on home loans, posing a much higher risk for the program. The report was done at the request of Senators Tom Coburn, M.D. (R-OK), Carl Levin (D-MI), Max Baucus (D-MT), Orrin Hatch (R-UT) and Charles Grassley (R-IA).
OKLAHOMA CITY, OK - July 22, 2010 - (RealEstateRama) -- A federal grand jury has indicted DERRICK REUBEN SMITH, MICHAEL GIPSON, and TRINA TAHIR on charges of conspiracy, wire fraud, and money laundering in connection with fraudulent mortgages, announced Sanford C. Coats, United States Attorney for the Western District of Oklahoma.
STILLWATER, Okla. - December 7, 2009 - (RealEstateRama) -- If you are a looking to purchase a home and qualify for the first-time homebuyer tax credit, you are in luck – the tax credit has been extended.
November 7, 2007 -- Among the numerous laws in effect as of November 1 is the Oklahoma Taxpayer and Citizen Protection Act of 2007, also...
MUSKOGEE, October 05, 2007 - Sheldon J. Sperling, United States Attorney for the Eastern District of Oklahoma, announced that EUGENE E. STIPE, age 80,...
Kanbar Properties, owners of a 16-building downtown portfolio, and two local manufacturers could receive more than $7.6 million in payroll tax rebates under the...