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IRS Issues New Rules For Tax-Free Legal Settlements
Feb 2nd
Robert W. Wood is a prominent tax lawyer with a national practice. a partner with Wood LLP (www.WoodLLP.com), he is admitted to practice law in California, new York, the District of Columbia, Texas, Montana, Arizona, Washington and Wyoming. he is Certified as a Specialist in Taxation and Qualified as a Solicitor in England. Named among the best tax lawyers in America, Wood is a Fellow of the American College of Tax Counsel and consults with clients in tax matters nationwide. he serves as an expert witness, speaks nationally to professional groups, and hosts The Legal Broadcast Network’s Tax Channel. The author of over 30 books and hundreds of articles, Wood is most well-known for advising litigants on the tax treatment of settlement and judgments. His book, Taxation of damage Awards and Settlement Payments (4th Ed. Tax Institute © 2009), is in wide use by lawyers, judges, mediators and courts nationwide. he has advised plaintiffs and defendants in airline disaster, toxic spill and catastrophic injury cases, landmark whistleblower, fraud, trade secrets and patent litigation, celebrity divorce and palimony cases. he has advised on the tax consequences of marquis antitrust, civil rights and wrongful conviction cases, SEC restitution, and environmental contamination litigation. he has also had significant victories litigating tax cases, including invalidating a long-standing provision in the Treasury Regulations. he can be reached at Wood@WoodLLP.com.
IRS Issues New Rules For Tax-Free Legal Settlements
Facebook’s Rumored IPO; Google’s Privacy Woes; Twitter Talks Censorship
Feb 2nd
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Facebook topped headlines Monday as rumors swirled that the social media giant could go public as early as today.
Experts have estimated Facebook’s valuation at somewhere in the ballpark of $75 billion to $100 billion. The IPO could help Facebook raise betwen $5 billion – $10 billion. For more, see Facebook’s IPO by the Numbers and Before Facebook: a look back at Major Tech IPOs.
In other news around the web, Google attempted to soothe Congressional fears about its new simplified privacy policy. also, lawyers for the now-defunct Megaupload.com said yesterday that users might be able to recover files stored on the site in the next two weeks. meanwhile, Twitter CEO Dick Costolo, speaking at a recent conference, tried to assuage users who were angered over the Web site’s recently announced capability to filter out tweets on a country-by-country basis.
Samsung also made news after a German court upheld a ban on the Samsung Galaxy Tab 10.1. meanwhile, the European Commission opened a formal investigation into whether Samsung has used its patents to “distort competition” in the European mobile market.
Also making headlines on Monday:
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Facebook’s Rumored IPO; Google’s Privacy Woes; Twitter Talks Censorship
Groundhog Day: Animal Folklore Predicts Seasonal Change
Feb 1st
Groundhog day, February 2nd, has a long history of folklore on which the practice of listening to the animals to protect the changes in weather has been based. for centuries, it has been said that animals contain a certain intuition that better prepares them to identify changes in weather and natural occurrences. as early as the fifth century, the Celts believed that animals contained supernatural powers that enabled them to predict future weather behavior. These supernatural powers were only active on the special day that marked the half-way point between the Winter Solstice and Spring Equinox. It was important to be able to predict whether or not the spring season was likely to come early in order to best predict the proper sowing time for the crops in the fields. after all, if the seeds were planted too early, and more winter weather followed, the crop production would be very poor.
In German folklore, it was said that if the badger came out of his winter den too early, he would be frightened by his shadow and retreat back inside for four to six additional weeks. in France and Britain, the bear was the animal believed to have the ability to gauge the end of winter. as German and British immigrants came over to America, it is likely that they replaced the badger and the bears with the groundhog because groundhogs were more plentiful in the new country.
Christians have historically referred to the holiday as Candlemas. Candlemas Day marks a festival that celebrates the presentation of Christ in the Temple. before celebrating the Christian holiday of Candlemas, a pagan ceremony celebrating the longer days and the fertility of the fields was often held via candlelight. instead of using a groundhog as in Groundhog Day, the Christians recited a British rhyme to predict the weather changes: if Candlemas Day be fair and bright, Winter will have another flight; But if it be dark with clouds and rain, Winter is gone, and will not come again.
Both techniques, the groundhog and the Candelmas rhyme ultimately result in the same result: if it is too sunny on February 2nd, there is another four to six weeks of winter to come. However, there is something about waiting for Punxsutawney Phil, the famous groundhog in Pennsylvania to come out of his burrow that makes Groundhog Day a unique celebration of the upcoming spring.
Groundhog Day: Animal Folklore Predicts Seasonal Change