What to do if you face tax scrutiny (rediff.com)
The evader usually goes scot free, while the tax payer is under scrutiny.

MONDAY (Centre Daily Times)
Meeting, Kiwanis Club of State College, 5:45 p.m., Ramada Inn, 1450 S. Atherton St., State College, 237-4089. Meeting, Rotary Club of Philipsburg, 7:15 a.m., Philipsburg Country Club, Philipsburg, 342-6221.

Police beat (Opelousas Daily World)
George Lee Rice III, 28, HC 62 Box 2155, Pittsburgh, Okla., DWI and impeding the flow of traffic. Kenneth Robinson, 38, 401 N. Bulah St., Eunice, second-degree battery and resisting an officer.

Morgan Stanley Upgrades Halfords EPS Numbers (New Ratings)
1031 GMT [Dow Jones] Morgan Stanley ups EPS forecasts on Halfords Group (HFD.LN) following "solid" FY 06 results Thursday. Broker retains 340p target on Halfords and overweight rating. Halfords delivered profit growth in the toughest retail environment in over a decade, Morgan Stanley adds.

Government invites comments, suggestions on service tax (New Kerala)
New Delhi, The Government has decided to set up a one-man committee under the chairmanship of former joint secretary T R Rustagi to review all circulars on services tax, inviting comments from the public, trade, industry, associations and others on the review.

Like-Kind Exchange Defers Realty Tax (Investor's Business Daily via Yahoo! News)
Suppose it's time to sell a certain investment property you own. Maybe you plan to move and do not want long-distance responsibilities. Or perhaps you would like to cut down on property management efforts.

Failed parcel tax is a failure for all of us (Half Moon Bay Review)
Perhaps we shouldn't be surprised that Measure S failed on Tuesday. After weeks of arguing the merits of the math of the parcel tax proposal, perhaps the only numbers that mattered could be found on the calendar.

Like-Kind Exchanges Helps Real Estate Investors Reduce Taxes and Increase Cash (PrimeZone via Yahoo! Finance)
Like Kind-Exchange, also called a 1031 Exchange, introduced into the U.S. tax code in 1921, is a boon to real estate investors. To help them figure out the sometimes complicated Internal Revenue Code, Lawrence Weiner and Richard Paul set up a company to help them defer and, in some cases, eliminate capital gains taxes.

ING Clarion Global Real Estate Income Fund 'IGR' Declares Monthly Dividend for June (Business Wire via Yahoo! Finance)
NEW YORK & PHILADELPHIA----June 12, 2006--The Board of Directors of the ING Clarion Global Real Estate Income Fund , which trades on the American Stock Exchange under the symbol 'IGR', today declared a monthly dividend of $0.115 per share for the month of June 2006.

Tallahassee Democrat - www.tallahassee.com - Tallahassee, FL. (Tallahassee Democrat)
Welcome to Tallahassee Democrat, Tallahassee, FL. Briefcase is a roundup of changes, promotions and accomplishments in the business community. It appears every Sunday.

BJP states free to decide on Sales Tax (IBN live)
The BJP-led states are given a free hand as far as taking a decision on whether or not to slash Sales Tax on fuel prices is concerned.

Zambia: Country Gives Rail Firm $35 Million Tax Free (AllAfrica.com)
Zambia, in an attempt to speed up the transport of copper and cobalt to its ports, has granted a railway firm a $35mn tax exemption.

Tobacco firms aid fight against tax-free sales (The Buffalo News)
ALBANY - In the decadelong battle to end tax-free cigarette sales by Seneca Nation and other Indian merchants, a new advocate has joined the scene: Big Tobacco.

Bayview Financial Exchange Services Launches New Web Site (PR Newswire via Yahoo! Finance)
Bayview Financial Exchange Services, LLC, also known as Bayview 1031, announced today that it has officially launched its new web site at http://www.bayview1031.com.

Paragon Relocation Resources Hosts Free Webinar on Global Relocation Tax Tactics and Strategy (PR Newswire via Yahoo! Finance)
Paragon Relocation Resources, a worldwide leader in the global mobility and consulting industry, today announced the company will be hosting a free webinar entitled "Global Relocation Tax Tactics and Strategy."

AICPA/Bayview Financial Exchange Services Present Online Infocast on 1031 Exchanges (PR Newswire via Yahoo! Finance)
Bayview Financial Exchange Services, LLC, also known as Bayview 1031, will participate in an Infocast presented by the American Institute of Certified Public Accountants on June 14, 2006 from 1:00 p.m. to 2:30 p.m.

Spanish-American War Tax Finally Eliminated From Phone Bills (NBC 4 Los Angeles)
An obscure tax on phone service that Americans have been paying since the Spanish-American War has been abolished and taxpayers may get a refund, according to an NBC4 report.

TUESDAY (Miami Herald)
5 TODAY 6 BROWARD Biz to Biz Networking: Meet and exchange business cards with local professionals; 5:30-7 p.m., Bonefish Grill, 6282 N. Federal Hwy., Promenade Shopping Center, Fort Lauderdale; $10. 954-838-9644 or www.biztobiznetworking.com.

Boomers selling rental home face tax consequences (Belleville News-Democrat)
Q. We recently sold a modest home for $88,000 that we lived in when first married, for eight years and then rented it for 20 years. We are wondering if we should buy another rental or another home, since we are 59 and 60 years old, and wish to avoid paying a lot of capital gains tax ... the house was fully depreciated.

BJP says its states free to decide sales tax cuts on fuel (Outlook India)
The BJP today asked the states under its control to make an independent decision regarding sales tax cuts on fuel as it ruled out any Congress-type "directive" to them to bring down prices of petrol and diesel.

United Projects for Aviation Services Company (Exchange - KUW : UPAC.KW) (Zawya)
Operation and maintenance of airport facilities; ground handling and support services including cleaning, catering, cargo, travel and tourism; financing and operation of build-own-transfer projects; leasing and maintenance of commercial real estate facilities and airplanes.

Community fund-raiser is Sunday (Globe Online)
BELMOND — One of the first events in Belmond’s sesquicentennial celebration occurs Sunday. To celebrate publication of a community cookbook of the same name, “A Taste of Belmond� will be held at the United Methodist Church, 1031 First St. S.E., from 5 to 7 p.m. Sunday.

Marketplace Report: Betting on Hot Real Estate (NPR)
Nervous because you just bought a house in a hot real estate market? Well, now you can essentially bet against the value of your home. The Chicago Mercantile Exchange has become the latest financial venue to offer contracts where investors can "hedge" home prices in a specific market, such as Las Vegas or Miami. Madeleine Brand talks with Steve Tripoli of Marketplace.

Tax Breaks on Medical Costs (Smart Money)
Simply itemizing health costs isn't the best way to go. We've got some other tax remedies.

Victims of Parking Lot Attack Recover (WXIA-TV Atlanta)
The mother who suffered burns during a random attack by a driver in a McDonald's parking lot that killed her niece is out of the hospital.

Oula fuel company to be listed on Kuwait Stock Exchange (Zawya)
The head of the Oula fuel company in Kuwait, Saud Abdallah Al-Babtain said his company would be listed on the Kuwaiti stock exchange starting in January next year.

Wager Island, Virtual Real Estate to Revolutionize Internet (SYS-CON Media)
Irish software development company, Brain Jungle Limited (BJL), recently leased a virtual island online gaming package to a Caribbean internet gaming operator for 320,000 USD, making it the largest transaction of virtual real estate to date.

ING Clarion Real Estate Income Fund 'IIA' Declares Monthly Dividend for June (Business Wire via Yahoo! Finance)
NEW YORK & PHILADELPHIA----June 12, 2006--The Board of Directors of the ING Clarion Real Estate Income Fund , which trades on the American Stock Exchange under the symbol 'IIA', today declared a monthly dividend of $0.115 per share for the month of June 2006.

Mercury Real Estate Advisors LLC Acquires Shares of IAT Air Cargo Facilities Income Fund (CNW Group via Yahoo! Finance)
Mercury Real Estate Advisors LLC has acquired a further 142,100 trust units of IAT Air Cargo Facilities Income Fund , through the facilities of the Toronto Stock Exchange, and currently holds 888,800 units representing 12.76% of the total outstanding units of IAT Air Cargo Facilities Income Fund.

Rent Finders USA to Expand New York Operations (SYS-CON Media)
Rent Finders USA, Inc. (PINKSHEETS: RFDU)is pleased to announce that Aaron A. Moss Real Estate (www.mossred.com) , awholly owned subsidiary of Rent Finders USA, Inc. will begin plans forexpansion throughout the Central New York Market. The Company has defineda market in Central New York, which Aaron A. Moss Real Estate estimates toexceed $50 million in annual residential real estate