Monthly Archives: April 2014

How Many Pounds of Marijuana Are Being Sold in Colorado A Month?

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“The crime rate in Denver, Colorado’s largest city, has gone down by 2.4%, with property crime falling by 14.6%, in the past year — all while enough ganja is being sold in the state to make Cheech and Chong blush.  The fear mongering that we always hear about marijuana is being exposed for exactly what it is. ‘If voters [legalize marijuana], I believe there will be many harmful consequences,’ said Sheriff David A. Weaver before the amendment was passed. ‘Expect more crime … I think our entire state will pay the price.’  Meanwhile, three months into the legalization experiment, consumers are buying over $14 million worth of product a month. That works out to approximately 1,683 pounds of pot.”

http://www.policymic.com/articles/87273/guess-how-many-pounds-of-marijuana-are-being-sold-in-colorado-every-month

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Does Anti-Money-Laundering Work? Rick McDonell of FATF Answers

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“Can you put in place effectively a system that identifies who is sending what to whom? In terms of virtual currencies that remains the same.  [..]  One significant issue is identification of the beneficial ownership of trusts, entities and companies, the ability of criminals to hide behind a corporate veil or some other legal instrument. That is a challenge we are dealing with. We have a new standard in place for that, and it will be tested in practice very shortly. That will require much closer cooperation between different arms of government that haven’t perhaps had to work together before. I would put that down as a significant challenge going forward.”

http://blogs.wsj.com/riskandcompliance/2014/04/08/does-anti-money-laundering-work-rick-mcdonell-of-fatf-answers-critics/

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How your 401(k) could disinherit your kids

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“As people set up their estate plans, many wrongly assume that their wills will determine what happens to their retirement accounts. In fact, the beneficiary designation usually trumps the will, and heirs who try to stake a claim to 401(k) or IRA assets that have been designated to someone else face costly litigation with no certainty of success.  In his most recent ‘Intelligent Investor’ column, The Wall Street Journal’s Jason Zweig describes the plight of several families that have been tripped up by outdated beneficiary paperwork.”

http://blogs.marketwatch.com/encore/2014/04/07/how-your-401k-could-disinherit-your-kids/

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Taxes: What Are Your Chances of Being Audited?

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“When it comes to taxes, your chances of being audited by the IRS vary wildly depending upon your income. How do you avoid red flags that could increase your chances of getting an audit notice in the mail?”

http://live.wsj.com/video/taxes-what-are-your-chances-of-being-audited/918ACAEC-6690-47FB-BB50-D4830CE139B6.html#!918ACAEC-6690-47FB-BB50-D4830CE139B6

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Taxation and Trading on Foreign Markets

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“Today, tax withheld at source is pretty much a universal practice enforced by foreign governments against interest and dividend income earned by non-resident investors. For example, a Canadian resident who earns a dividend on a security purchased on a German exchange will be subject to withholding tax levied by the German equivalent of the CRA in Canada (or the IRS in the US).  In our example, the Canadian resident will also be required to declare the foreign earned interest and/or dividend income and pay tax to the Canadian government. This places the investor in the inequitable position of two jurisdictions levying tax on the same income.”

http://www.internationalman.com/articles/taxation-and-trading-on-foreign-markets

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Soc. Security, Treasury target taxpayers for parents’ decades-old debts

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“Hundreds of thousands of taxpayers who are expecting refunds this month are instead getting letters like the one Grice got, informing them that because of a debt they never knew about — often a debt incurred by their parents — the government has confiscated their check.  The Treasury Department has intercepted $1.9 billion in tax refunds already this year — $75 million of that on debts delinquent for more than 10 years. The aggressive effort to collect old debts started three years ago — the result of a single sentence tucked into the farm bill lifting the 10-year statute of limitations on old debts to Uncle Sam.  No one seems eager to take credit for reopening all these long-closed cases.”

http://www.washingtonpost.com/politics/social-security-treasury-target-hundreds-of-thousands-of-taxpayers-for-parents-old-debts/2014/04/10/74ac8eae-bf4d-11e3-bcec-b71ee10e9bc3_story.html

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Family Confronted With Armed Military Police After Leaving Museum

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“A family says they continue to be haunted after they were pulled over and held at gunpoint by military police following a Friday visit to an Ohio Air Force museum.  Hill told WKRC-TV that she and her grandson were playing a game in the museum parking lot, where they would identify all of the out-of-state license plates.  What happened, however, when the family left the museum has left them tormented.  ‘I’m looking in my side view mirror and I see (an officer) step out of his vehicle,’ Hill told WKRC-TV. ‘(He’s) behind his door with his gun drawn pointing it at me.’  Hill had been pulled over after someone dialed 911 and told authorities they had seen the family burglarizing cars in the parking lot.”

http://www.theblaze.com/stories/2014/04/09/one-family-never-expected-this-confrontation-with-military-police-after-leaving-an-air-force-museum/

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‘Drop Dropbox’ protests as wiretap proponent Condoleezza Rice joins

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“CEO Drew Houston made it clear on Wednesday that Dropbox wants to be a bigger part of your day-to-day life. But protesters are threatening to ditch Dropbox from their life completely, thanks to yesterday’s appointment of former Secretary of State Condoleezza Rice to the Dropbox board.  Rice supports warrantless wiretaps and has a generally pro-surveillance political stance (an issue that Drop Dropbox also touches upon). Given that Dropbox has such deep access to the files of its 275 million users, and that the information collection should only increase if users start using auxiliary services like Carousel and Mailbox en masse, Rice’s appointment has struck a collective nerve.”

http://www.pcworld.com/article/2142286/drop-dropbox-protests-flare-as-wiretap-proponent-condoleezza-rice-joins-board.html

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S.F. SmartCar-Tippers Rage Against the Machine

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“A group of as many as eight people dressed in black tipped over four of the cars in a San Francisco residential area this week. Vandals have been tipping Smart cars in other cities throughout the country.  There’s speculation that the car tipping could be linked to the anti-tech industry movement that’s been growing in the Bay Area. Protesters have hampered Google’s shuttles as they have tried to take employees to work. They have demonstrated outside Twitter’s headquarters against the tax breaks it gets from the city.”

http://www.technewsworld.com/story/80267.html

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Protesters block another Google bus, plan march against evictions

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“Dozens of protesters in San Francisco blocked a bus headed for Google headquarters this morning and dozens more are expected during a march this afternoon to rally against the evictions of local teachers and other longtime city residents.  Attendees heard from longtime residents of a building at 812 Guerrero St. who are being evicted under the Ellis Act, a state law that allows property owners to take a building off of the rental market and convert it for other uses, such as condominiums or a single-family home.  The building was recently purchased by a Google employee who ‘proceeded to evict tenants using illegal methods,’ according to a statement from Eviction Free San Francisco.”

http://www.mercurynews.com/business/ci_25547247/san-francisco-protesters-block-google-bus-plan-march

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