Every year around this time, millions of Americans fill out a form 1040 – hoping they don't have to write a check to Uncle Sam. Millions more know they will be getting a “refund” (which is normally a return of some portion of their money that was wi
'Taxmageddon' is the preferred description of David Leonhardt at The New York Times to describe the unique fiscal situation due to happenat the end of this year.
Benjamin Franklin, who used his many talents to become a wealthy man, famously said that the only things certain in life are death and taxes.
President Barack Obama said the White House proposed “Buffet Rule” could be named the “Reagan Rule,” referring to former Republican President Ronald Reagan as a “wild-eyed, Socialist, tax hiking class warrior.”
The U.S. tax code is a complete and utter abomination and it needs to be thrown out entirely. Nobody in their right mind would ever read the whole thing – it is over 3 million words long
50 employees were given cash awards of $500 and $1,000 for their work arranging the now-infamous conference. "It would also appear that a number of GSA bureaucrats who helped arrange the Las Vegas junket were handed cash bonuses for their work in was
All but certain now that his Republican opponent will be Mitt Romney, President Obama has made his proposed “Buffett Rule” minimum tax for the wealthiest Americans like Mr. Romney a centerpiece of his re-election campaign, defying the political risk
The United States Congress is steadily headed to a place where those who owe money to the US government shall be treated criminally.
In 2012, the federal tax return deadline is Tuesday, April 17 — so if you haven't already filed your income tax return, you have about one week left to shop around for different options to finish your taxes, or request an extension.
Along with “fivedollaragallongas,” the energy watchword for the next few months is: “subsidies.”
A bill authored by a Southland lawmaker that could potentially allow the federal government to prevent any Americans who owe back taxes from traveling outside the U.S. is one step closer to becoming law.
Many States rely on lottery revenues to fund various projects. With the recent record breaking Mega Millions jackpot I began thinking about the possibility that all government funding should come from similar voluntary means. Consider the following p
The alternative minimum tax—better known by its dreaded acronym AMT—will trap more taxpayers in 2011 than at anytime in its 42 year history.
The Internal Revenue Service never conducted an investigation into South Carolina Governor Nikki Haley’s involvement in a Sikh temple’s finances. The IRS, said “we determined an examination was not warranted at that time.”
Come Sunday, America finally has something to crow about in its economic war with China and Japan: It will have the highest jobs-killing corporate tax rate in the industrialized world.
The US is suing a unit of Mr. Buffett’s Berkshire Hathaway, seeking $366 million in taxes and penalties. The Berkshire division at the center of the suit is a private-aircraft company that caters to the nation’s wealthiest — the people Mr. Buffett sa
Even though Obama was elected along with huge Democratic majorities in the House and Senate, he didn’t really get everything he wanted in 2009 and 2010. If he had, the stimulus would’ve been twice as big
Unless Congress takes action, the top tax rate for the highest earners on most dividends, currently 15%, is set to jump to a whopping 43.4% next year.
We begin on Friday 30 March with a speech by anti-war activist Cindy Sheehan. You may remember that her son, Casey, was killed in the unconstitutional and undeclared war with Iraq. You may also remember that there was never any justification for that
He has since brought aboard specialists from Big Four audit firms KPMG and Ernst & Young, as well as law firm Mayer Brown and boutique consultancy Horst Frisch. Maruca, who came from law firm Covington & Burling, is still recruiting.
A surge in tax refund fraud and identity theft has prompted the Internal Revenue Service to consider sharing more tax return information with police. In a move that could spark concerns over personal privacy, the IRS said it is considering a pilot pr
Joseph A. Insinga was the ultimate whistleblower. The former executive with a Dutch bank says he divulged to the Internal Revenue Service details about how for years his employer helped U.S. companies dodge taxes.
The communist revolutions in the 20th century sought to nationalize the wealth generated by privately held industries back to the "exploited" workers on whose backs the profits were supposedly derived.
The White House says that restoring the U.S. manufacturing sector is an essential part of getting the economy back on track.
Tax preparers said Thursday that the Internal Revenue Service is continuing to have delays in sending federal tax refunds this year, with hundreds of South Floridians complaining they still haven't gotten their check.
Most people like President Barack Obama's proposal to make millionaires pay a significant share of their incomes in taxes.
Another eye-popping number was the percentage of Americans who don’t pay income taxes, which now accounts for nearly half of the U.S. population. Meanwhile, most of that population receives generous federal benefits. “One of the most worrying tren
The federal government has filed a lawsuit to force anti-war activist Cindy Sheehan to provide her financial records to the Internal Revenue Service. An IRS revenue officer said Sheehan refused to answer any questions about her finances after rece
Mitt Romney called for a 20 percent across-the-board cut in personal income tax rates today
President Obama asked Congress on Wednesday to scrub the corporate tax code of dozens of loopholes and subsidies to reduce the top rate to 28 percent, from 35 percent, while giving preferences to manufacturers that would set their maximum effective