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Keyword: taxes

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  • Robert De Niro Hit with $6.4 Million Tax Bill

    02/28/2015 6:04:34 AM PST · by rfreedom4u · 54 replies
    Forbes.com ^ | 2/27/2015 | Robert W. Wood
    Robert De Niro owed $6.4 million to the IRS for his 2013 tax return, but it appears he just learned of it. The Oscar winner's tax debt surfaced in documents first uncovered by the Smoking Gun. Mr. De Niro has an estimated worth of over $200 million, and is reputed to spend $125,000 a month on his rental on Central Park West. In that sense, this tax bill doesn't seem so large. But it was unpaid, as the notice to New York City’s Department of Finance revealed. That is what an IRS lien filing is all about. But right away,...
  • Get Credit for Your Retirement Savings Contributions

    02/27/2015 10:44:38 PM PST · by 2ndDivisionVet
    You may be eligible for a tax credit if you make eligible contributions to an employer-sponsored retirement plan or to an individual retirement arrangement. Here are six things the IRS wants you to know about the Savers Credit: 1.Income Limits The Savers Credit, formally known as the Retirement Savings Contributions Credit, applies to individuals with a filing status and income of: • Single, married filing separately, or qualifying widow(er), with income up to $27,750 • Head of Household with income up to $41,625 • Married Filing Jointly, with incomes up to $55,500 2.Eligibility requirements To be eligible for the credit...
  • ‘Strong Roots Nebraska’ Plan Would Boost Economic Outlook

    02/27/2015 2:55:21 PM PST · by ThethoughtsofGreg · 1 replies
    American Legislator ^ | 2-27-15 | Ben Wilterdink
    The recent state of Nebraska’s tax and fiscal policy climate has been lackluster compared to other states in the region. In the most recent edition of Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index Nebraska ranks 35th (1 being the best, 50 being the worst), which is the poorest economic outlook ranking in the region. Nebraska has been slowly falling behind its neighbors, especially South Dakota and Wyoming—two states without any income taxes—and Kansas improving its economic climate with major recent tax reform. Nebraska has also lost $2.58 billion in adjusted gross income (AGI) to other states from 1992...
  • With Declining Recidivism Rates, South Carolina Closes Minimum Security Prison

    02/27/2015 10:43:47 AM PST · by ThethoughtsofGreg · 1 replies
    American Legislator ^ | 2-27-15 | Paige Lafortune
    South Carolina announced Tuesday, February 25th that the state would be closing a minimum security prison. This will be the second minimum security prison closing in South Carolina within a year, and is the result of declining recidivism rates—the rate at which offenders relapse into criminal behavior. In 2010, South Carolina passed significant criminal justice reforms following the suggestions of the South Carolina Sentencing Reform Commission, established to address the high recidivism rates, large prison populations and growing correctional costs. The South Carolina legislature passed the Omnibus Crime Reduction and Sentencing Reform Act of 2010 to address the identified issues....
  • 6 Million Face Obamacare Fines; Administration Extends Enrollment Period

    02/26/2015 2:44:08 PM PST · by ThethoughtsofGreg · 5 replies
    American Legislator ^ | 2-26-15 | Alex Sanchez-Olvera
    On February 20 the Centers for Medicare and Medicaid Services (CMS) announced the creation of a special enrollment period for taxpayers to avoid penalties for non-compliance with the Affordable Care Act’s (ACA) individual mandate. Open enrollment for 2015 officially ended February 15, and prior to the CMS announcement, those who failed to sign up for insurance and weren’t otherwise covered would have been subject to a fine (or “shared responsibility payment”) of the greater of $325 per adult, or two percent of taxable household income when they filed their tax returns in 2016. Because many people may not be aware...
  • H&R Block Set to Reap Windfall from ObamaCare Law It Helped Design

    02/26/2015 4:58:34 AM PST · by IBD editorial writer · 6 replies
    Investor's Business Daily ^ | 02/26/2015 | John Merline
    Anyone wondering why ObamaCare requires enrollees to file ridiculously complex tax forms might just have found their answer.
  • Florida Governor Rick Scott Proposes $470 Million in Communications Services Tax Relief

    02/25/2015 12:38:51 PM PST · by ThethoughtsofGreg · 2 replies
    American Legislator ^ | 2-25-15 | Kati Siconolfi
    Great news for consumers in Florida: Governor Rick Scott has proposed $470 million in communications services tax relief. Governor Scott’s proposed budget would reduce the communications services tax for mobile, cable services and non-residential landlines by 39 percent. Furthermore, his proposed budget would also reduce the communications services tax for satellite services by 27 percent. Under the governor’s budget proposal, a family spending an average of $100 a month on cell phone, cable and satellite television services could save about $43 a year. Currently, Florida’s state and local communications services tax is one of the highest in the nation, with...
  • IRS to let taxpayers keep cash from Obamacare tax mistake

    02/25/2015 6:44:06 AM PST · by SeekAndFind · 32 replies
    American Thinker ^ | 02/25/2015 | Rick Moran
    About 50,000 taxpayers who had filed their returns before an error in an Obamacare tax form was discovered will be able to keep the money, the IRS said yesterday. The erroneous forms went out to 800,000 taxpayers. Most of those citizens will have to wait for the IRS to mail them a corrected form before they can file their taxes. Treasury said people who did not pay enough in taxes because of the glitch will be allowed to keep the money. If they paid too much, then they have the option of filing an amended return to get their...
  • 17,000 Federal Employees Earned More Than $200K Last Year

    02/24/2015 3:51:39 PM PST · by SoFloFreeper · 23 replies
    National Journal ^ | 2/24/15 | Eric Katz
    More than 16,900 federal employees took home in excess of $200,000 in base salary in 2014, according to a partial database of federal salary data. The information, compiled by FedSmith.com using data from the Office of Personnel Management and other agencies, shows the annual compensation for every civilian federal worker, save those at the Defense Department. The number of workers earning more than $200,000 represented about 1.6 percent of employees on the list and is up from about 15,000 who cleared that salary in 2013. It also makes up a slightly higher percentage of the employees on this list. Most...
  • Double Tax on Some Fuels is Problematic for $2 Billion Michigan Sales Hike

    02/24/2015 9:44:12 AM PST · by MichCapCon · 4 replies
    Michigan Capitol Confidential ^ | 2/24/2015 | Jack Spencer
    The ballot proposal that goes before Michigan voters on May 5 includes a “double tax” on fuel purchased for uses other than driving on roads, including for boats, snowmobiles, off-road vehicles and possibly agriculture. Some Lansing insiders have known about the problematic wording for weeks, and while few will talk about it on the record, it has attracted much attention among those in the know. “It’s right there; all you have to do is be able to read,” a well-placed source said under the condition of anonymity. Officially dubbed Proposal 2015-1, the ballot measure is the road funding deal Gov....
  • Media Muddles Magnitude of May Tax Hike Vote

    02/24/2015 5:33:16 AM PST · by MichCapCon
    Michigan Capitol Confidential ^ | 2/23/2015 | Tom Gantert
    Approximately two billion dollars. That's how much additional taxes will be collected if voters approve a May 5 ballot proposal, according to a Mackinac Center for Public Policy analysis based on figures projected by Michigan's legislative fiscal agencies. The bottom-line figure has not been widely reported in the media. In fact, most readers would be hard-pressed to find it in newspapers or in press releases put out by politicians who favor the tax hike measure. For example, Sen. Jim Stamas, R-Midland, issued a press release that stated: “Last year, the Legislature approved a bipartisan package projected to generate $1.2 billion...
  • Opinion: The far right fears Jeb Bush’s success

    02/23/2015 12:18:41 PM PST · by 2ndDivisionVet · 60 replies
    Market Watch ^ | February 23, 2015 | Paul Brandus, White House bureau chief, West Wing Reports
    One of the more memorable moments during the last presidential campaign was a GOP debate in August, 2011. Fox’s Bret Baier asked the eight candidates if they would agree to $1 in new taxes for every $10 in spending cuts. Not one person raised his (or her) hand. Ronald Reagan, George H.W. Bush, and Richard Nixon—all tax hikers at one point or another during their presidencies—would have raised their hands, and might have been booed off stage. That’s how much the Republican party has changed. Which brings us to Jeb Bush. During his eight years as governor of Florida (1999-2007),...
  • Egypt’s president raises cigarette tax

    02/22/2015 7:04:38 PM PST · by Olog-hai · 4 replies
    Associated Press ^ | Feb 22, 2015 2:50 PM EST | Merrit Kennedy
    Egypt said Sunday it will raise the sales tax on both local and imported cigarettes as it confronts a major budget deficit. The decision announced by the presidency increases a flat tax by at least 7 cents for a pack of less expensive cigarettes. More expensive brands will see an increase of at least 20 cents. A similar move last July raised prices 25 to 40 cents per pack. One in four Egyptian adults smoke, according to a 2013 World Health Organization report. …
  • Certified Mail Issue.....What to do? (Vanity)

    02/22/2015 11:51:52 AM PST · by Red in Blue PA · 36 replies
    Long story made short. I mailed my taxes in via USPS Certified Mail last Saturday and when I go to USPS for Tracking it says: "Updated Delivery Day: Thursday, February 19, 2015" with the last status being "Sorting Complete". Obviously that day is past so I am starting to wonder.....were my taxes taken by a postal employee? And it never said "Out For Delivery".....the Sorting Complete message has remained. Checked the weather in Kansas City, MO and it does not look like snow. Anyone ever experience this? I have sent a lot of things Certified Mail and this is the...
  • Shattuck: It’s the Unaffordable Care Act

    02/21/2015 6:59:56 PM PST · by calvincaspian · 4 replies
    Boston Herald ^ | 02/21/21015 | Tom Shattuck
    President “selfie-stick” just got a snapshot of his troubled Affordable Care Act and it’s starting to resemble an unaffordable debacle. The latest snafu: Some 800,000 Americans who got their plans on the technologically toxic Healthcare.gov were given incorrect tax forms and will need to “amend” their filings. Don’t worry though, the correct forms are coming ... in March!
  • Tax Hacks: Beware the Dirty Dozen Tax Scams (Husseincare not mentioned)

    02/21/2015 2:50:14 PM PST · by Libloather · 2 replies
    msn ^ | 2/21/15
    Tax season is bad enough without getting caught in a tax scam.
  • What Scott Walker Actually Said (There was more to that dinner than Rudy Giuliani)

    02/21/2015 1:05:15 AM PST · by Cincinatus' Wife · 76 replies
    National Review Online ^ | February 20, 2015 | Larry Kudlow
    Yes, believe it or not, Wisconsin governor Scott Walker actually spoke at some length at the dinner this past week where Rudy Giuliani charged that President Obama doesn’t love America. All the hullabaloo went to Giuliani, but in terms of the Republican presidential race, a number of Scott Walker’s pointed comments about policy and politicians are not to be missed. First a word about the dinner itself, which was generously backed by John Catsimatidis. It was the second event sponsored by the Committee to Unleash American Prosperity, a new group founded by Arthur Laffer, Steve Moore, Steve Forbes, and myself....
  • Obamacare Tax Traps Are Ready to Grab Your Refund (RATS gloat over fake Husseincare numbers)

    02/19/2015 3:48:10 PM PST · by Libloather · 7 replies
    Fiscal Times via MSN ^ | 2/19/14 | Edward Morrissey
    **SNIP** Consumers who get married, divorced, or have children between now and the next enrollment period will find making changes “a convoluted, multi-step process.” After hundreds of millions of dollars spent on the initial rollout and tens of millions spent to fix the system afterward, HHS and insurance companies will still rely on “clunky workarounds and manual spreadsheets,” Politico reported this week. And that 11.4 million enrollment figure? That’s largely overstated too, Avik Roy writes at Forbes. First, it’s cumulative; it represents the total number of those who completed applications and those previously enrolled. This year’s additions are also signups,...
  • States don’t want illegal immigrants, but could they need them? (Here we go)

    02/19/2015 1:36:33 PM PST · by 2ndDivisionVet · 17 replies
    Watchdog.org ^ | February 19, 2015 | Yaël Ossowski
    A coalition of 26 states fought and won a battle to freeze President Barack Obama’s deferred action plan to give temporary work visas to illegal immigrants with children born in the United States. Judge Andrew Hanen’s injunction order, issued Monday, makes certain eligible illegal immigrants won’t get permission from the federal government to seek lawful employment, and will have to continue working without legal papers. The states who filed the lawsuit claimed such an action would cause “undue burden” to their finances. “Regardless of the reasons behind the actions or inaction of the executive and legislative branches of the...
  • Scott Walker Embraced by Voodoo Economists

    02/19/2015 11:20:31 AM PST · by Cincinatus' Wife · 38 replies
    New Yorker ^ | February 19, 2015 | Jonathon Chait
    "......The more significant development was Scott Walker’s semi-public confab with the leading lights, such as they are, of supply-side economics. Last night, the Wisconsin governor attended a dinner in New York hosted by Stephen Moore, Arthur Laffer, and Lawrence Kudlow. This is a strong indication of the policy leanings of a candidate who probably stands as strong a chance as anybody of capturing the nomination. The backdrop to Walker’s meeting is that the Republican Party is undergoing the first serious effort to alter its domestic policy in a quarter century....... This has left a gaping void for a Republican candidate...
  • Middle Class Fleecing with Obamacare

    02/19/2015 9:15:01 AM PST · by Sean_Anthony · 3 replies
    Canada Free Press ^ | 02/19/15 | Dr. Ileana Johnson Paugh
    The law has been written by liberals for liberals, to benefit their Democrat voting constituents to the detriment of everyone else It is becoming increasingly difficult for Virginians to find doctors and secure appointments in a timely manner thanks to Obamacare. After a fierce battle, the bills meant to create state exchanges and to expand Medicaid have died in the House and in the Senate. However, Democrat Governor McAuliffe added Medicaid expansion to his budget amendment. The House removed that language from the budget. As millions of Americans, who previously had insurance and doctors they were satisfied with and wanted...
  • Reform Conservatism Won't End the Liberal Welfare State, It'll Reinvent it

    02/19/2015 5:42:00 AM PST · by reaganaut1 · 13 replies
    Reason ^ | February 18, 2015 | Shikha Dalmia
    Having spent the last six years in the political wilderness, it is understandable that conservatives are eager to reclaim the reins of power. It's also understandable that they want to play to their strengths—and Democratic weakness—in tailoring an agenda to their core constituency: middle-class Americans. What is less understandable is why many conservatives have ended up with a mix of old and new liberal ideas that thoroughly scale back the right's long-running commitment to free markets and limited government. But that is exactly what reform conservatism—a hot new movement powered by about 50 of the brainiest young conservatives—does. Reformicons, as...
  • Scott Walker to attend private dinner with supply-siders in New York

    02/19/2015 4:40:01 AM PST · by Cincinatus' Wife · 14 replies
    Washington Post ^ | February 18, 2015 | Robert Costa
    Wisconsin Gov. Scott Walker is scheduled to attend a private dinner Wednesday with longtime advocates of supply-side economics. The gathering, set for the upscale “21” Club in Manhattan, is the latest effort by the potential Republican presidential contender to bolster his relationships with the GOP’s anti-tax wing. It also reflects the interest business-friendly conservatives have in his possible candidacy, in spite of the recent ascent of former Florida governor Jeb Bush. Economists Larry Kudlow, Arthur Laffer, and Stephen Moore will host Walker, according to several people with knowledge of the event. For decades, that trio of friends — all associated...
  • Michigan’s $2 Billion Tax Proposal

    02/18/2015 9:46:06 AM PST · by MichCapCon · 10 replies
    Michigan Capitol Confidential ^ | 2/15/2015 | Jarrett Skorup
    Michigan residents on May 5 will vote on a constitutional amendment and a package of bills that will go into effect if approved. The proposal will increase the sales tax from 6 percent to 7 percent, raise taxes on fuel, and increase vehicle registration taxes. It will also hike the state’s Earned Income Tax Credit. Overall, the proposal will increase state tax revenue for fiscal year 2015-2016 by approximately $2 billion, of which $1.3 billion will go to funding transportation — initially to accelerate repayment of existing transportation bond debt, to increase overall road maintenance, and to spend more on...
  • Poll: Blame for DHS shutdown would fall to GOP (Will the GOP buckle?

    02/17/2015 4:34:30 PM PST · by Laissez-faire capitalist · 46 replies
    CNN ^ | 2/17/2015 (4:31 PM ET) | Jennifer Angiesta
    Republicans in Congress would shoulder the blame for a shutdown at the Department of Homeland Security if they are unable to enact a new spending bill to keep the agency running, according to a new CNN/ORC poll. The survey finds that 53% of Americans would blame the Republicans in Congress if the department must shut down, while 30% would blame President Barack Obama. Another 13% say both deserve the blame. If a spending bill is not passed by Feb. 28, the agency's funding will run out. ...
  • Republicans say Obama giving immigrants 'amnesty bonuses' ($24,000)

    02/14/2015 8:08:36 PM PST · by 2ndDivisionVet · 32 replies
    My Way News / The Associated Press ^ | February 14, 2015 | Stephen Ohlemacher
    Millions of immigrants benefiting from President Barack Obama's executive actions could get a windfall from the IRS, a reversal of fortune after years of paying taxes to help fund government programs they were banned from receiving. Armed with new Social Security numbers, many of these immigrants who were living in the U.S. illegally will now be able to claim up to four years' worth of tax credits designed to benefit the working poor. For big families, that's a maximum of nearly $24,000, as long as they can document their earnings during those years. Some Republicans are labeling the payments "amnesty...
  • Illinois poverty on rise since 2010; four counties at greatest risk, says report

    02/14/2015 12:33:56 PM PST · by KeyLargo · 6 replies
    Reebot Illinois ^ | Feb 12, 2015 | Caitlin Wilson
    Illinois poverty on rise since 2010; four counties at greatest risk, says report Caitlin Wilson The number of Illinoisans living in poverty has risen steadily since 2010, with nearly 15 percent of residents living at or below the poverty line, a new report says, the highest mark since 1960. The Social Impact Research Center (SIRC) released a report detailing the statistics surrounding poverty in Illinois, finding that Illinois “has plenty of room for improvement” in comparison to other states when it comes to residents living in poverty, and that 14 of the state’s counties have more than 20,000 residents in...
  • Two Big Fiscal Lessons from Colorado’s Pot Legalization

    02/14/2015 7:49:46 AM PST · by Kaslin · 19 replies
    Townhall.com ^ | February 14, 2015 | Daniel J. Mitchell
    Regular readers know that I don’t approve of drug use, but that I also favor legalization because the Drug War has been a costly and ineffective failure.(And it’s led to horrible policies such as intrusive money-laundering laws and Orwellian asset-forfeiture laws).So I was happy when folks in Colorado voted to decriminalize marijuana use, even if part of me didn’t like the idea that politicians would gain a new source of tax revenue.If nothing else, what’s happening in Colorado (and Washington state) will be an interesting social experiment.And even though we only have a modest bit of data, I’m going to be...
  • FCC Commish: Obama Taking Unprecedented Direct Control Over Internet Changes

    02/13/2015 5:18:35 PM PST · by Enlightened1 · 49 replies
    Breitbart ^ | 2/13/15 | Pam Key
    Discussing the plan that the FCC has refused to let the public see Pai said, “Unfortunately it looks like the cake has been baked. President Obama gave his direction to the FCC in back in early November and lo and behold, the FCC majority has put together President Obama’s plan for Internet regulation. And it looks to be posed pass it on a 3-to-2 vote.” When asked if the president’s move was an “alarmingly unprecedented direct involvement,” into FCC, Pai agreed, explaining the FCC has been an independent agency since 1934, he said, “When you have a politician shortly after...
  • Despite Increased Enrollment, Obamacare Still in Hot Water

    02/13/2015 2:03:41 PM PST · by ThethoughtsofGreg · 13 replies
    American Legislator ^ | 2-13-15 | Alex Sanchez-Olvera
    In a recent Buzzfeed video that has already logged over 5.5 million views, President Obama reminded us all that the Affordable Care Act’s second open-enrollment period ends Sunday. And yet federal officials have already begun trumpeting the numbers. Early this month, Sylvia Mathews-Burwell, secretary of the Department of Health and Human Services, estimated that 10 million people had already gained access to coverage under the law. If accurate, the secretary’s estimate would surpass the administration’s stated goal of 9.1 million new and continuing enrollees before the February 15 deadline. However, this figure still represents 4 million fewer people than what...
  • LA OPINION: Major Paper Says Illegals Eligible For Hefty Tax Refunds if They Secure a SSN#

    02/13/2015 10:37:12 AM PST · by AmericanInTokyo · 10 replies
    LA OPINION (Los Angeles, in Spanish) ^ | 13 February 2015 | La Opinion
    Los inmigrantes indocumentados que califiquen para los alivios migratorios otorgados por el Presidente Barack Obama podrán reclamar reembolsos retroactivos por créditos fiscales a los que no calificaban mientras estaban trabajando sin un número de seguro social válido. Uno de esos es el Crédito Tributario por Ingreso del Trabajo (EITC) que puede ser de hasta $6,000. "El programa (de alivios migratorios) te permite reclamar el EITC", dijo el martes John Koskine, comisionado del Servicio de Recaudación de Rentas (IRS) ante el Comité de Finanzas del Senado.
  • IRS commissioner: Illegals now eligible for tax credits under Obama’s amnesty — even for years past

    02/12/2015 9:57:51 PM PST · by 2ndDivisionVet · 15 replies
    Hot Air ^ | February 12, 2015 | Allahpundit
    Our Townhall cousin Conn Carroll was way ahead of the game on this, warning back in December that handing out Social Security numbers to illegals under Obama’s new executive amnesty was a momentous development. Illegals are already eligible for some tax credits, he noted at the time, but the real money is in the Earned Income Tax Credit, which can add up to thousands of dollars for low earners with multiple children. Illegals can’t get the EITC, though, because the law requires a Social Security number to apply and they don’t have Social Security numbers. Until now. So they’ll be...
  • New Poll Reveals Strong Majority of Americans Support Pension Reform

    02/12/2015 2:14:19 PM PST · by ThethoughtsofGreg · 12 replies
    American Legislator ^ | 2-12-15 | Kati Siconolfi
    State pension plans across the country continue to face significant fiscal challenges. In fact, nonpartisan fiscal watchdog State Budget Solutions estimates that state pension unfunded liabilities now total $4.7 trillion. The latest Reason-Rupe national telephone poll of more than 1,000 adults reveals that state pension unfunded liabilities have captured public attention. Americans strongly support pension reform in order to help governments keep their pension promises to retirees and current employees, while protecting taxpayers. Americans are rightly concerned about unfunded liabilities in state pension systems. According to the Reason-Rupe poll, absent pension reforms, 72 percent of Americans believe that their state...
  • TIA talks highway funding, tire registration at event

    02/12/2015 10:10:29 AM PST · by Tolerance Sucks Rocks · 13 replies
    RubberNews.com ^ | February 11, 2015 | Miles Moore
    WASHINGTON—Highway funding, tax reform and tire registration were the big issues tire dealers, repair shop owners and association officials discussed with Capitol Hill staffers during the Tire Industry Association’s Federal Lobby Day on Feb. 5. Approximately 55 representatives of the tire retailing and auto repair industries participated in the event, which began with speeches from current and former members of Congress and progressed to one-on-one meetings with key staff persons in the offices of several top Washington lawmakers. With the Highway Trust Fund set to run out of money in May, passage of a multi-year transportation funding bill was the...
  • Tom Brady Truck Handoff Deflates Tax Bill, Copies Obama's Nobel Prize Move. Can You Regift Too?

    02/11/2015 3:15:51 AM PST · by SoFloFreeper · 15 replies
    forbes ^ | 2/8/15 | Robert W Wood
    Tom Brady just deflated his tax bill, handing off the winning Super Bowl MVP truck worth $35,000 to Malcolm Butler who will pay taxes on the prize. Butler is the rookie cornerback who intercepted Russell Wilson‘s pass on the goal line to seal the Patriots’ Super Bowl win..... But aren’t gifts tax-free? Not always, and distinguishing between income and gifts can be tough. If gifts are made out of “detached and disinterested” generosity, they aren’t taxable. These gifts are more in the nature of marketing, made in a business context not a family one. Any individual can give gifts to...
  • Record Number Gave Up U.S. Citizenship or Long-Term Residency in 2014

    02/10/2015 11:27:11 AM PST · by Theoria · 17 replies
    WSJ ^ | 10 Feb 2015 | Laura Saunders
    A record 3,415 individuals renounced their U.S. citizenship or long-term residency in 2014, according to a list released by the Treasury Department on Tuesday. The 2014 number was up 14% from 2,999 individuals in 2013, which was also a record. “Many Americans abroad are finding that retaining their ties is not worth the cost and hassle of complying with the U.S. tax laws,” says Andrew Mitchel, a lawyer in Centerbrook, Conn., who tallies the lists of names released quarterly by the Treasury Department. He links the growing number of renunciations by U.S. citizens and permanent residents to a five-year enforcement...
  • Swiss Bank Irritates Governments by Helping Clients Avoid Taxes

    02/10/2015 7:29:13 AM PST · by Kaslin · 9 replies
    Townhall.com ^ | February 10, 2015 | Michael Schaus
    The Swiss arm of HSBC Holdings Plc private banking division has been accused of helping wealthy international customers avoid taxes and conceal millions of dollars from local revenuers… So, when I make my millions, remind me to bank with HSBC.Information leaked (read: stolen) by a former IT employee of HSBC’s private banking division in Switzerland has already been used by authorities to track down potential tax dodgers; and now it is being used to cast partial blame on the financial giant. France is anxiously combing through the illegally obtained information, and has even forwarded the information on to other countries… The...
  • Only 19K people owed AMT in 1970, and now millions pay it

    02/09/2015 3:17:03 PM PST · by Libloather · 17 replies
    Market Watch via MSN ^ | 2/09/15 | Bill Bischoff
    **SNIP** What happened? Inflation, mostly. While the “regular” tax brackets, exemptions and standard deductions were adjusted annually for inflation, the AMT brackets and exemptions were not, so many people whose income increased entered the dreaded AMT zone. Especially vulnerable are people with income over $75,000 and some large deductions, but not the exotic ones that were originally targeted by the AMT’s creators. Most vulnerable are taxpayers with several children, interest deductions from second mortgages, capital gains, high state and local taxes, and incentive stock options. Thankfully, the AMT brackets and exemptions are adjusted for inflation for 2013 and beyond, which...
  • Pentagon spent $504,816 on Viagra last year

    02/09/2015 7:59:22 AM PST · by KeyLargo · 45 replies
    FoxNews.com ^ | Feb 9, 2015 | Elizabeth Harrington
    Spending Pentagon spent $504,816 on Viagra last year By Elizabeth Harrington Published February 09, 2015 Washington Free Beacon The Department of Defense (DoD) spent more than a half a million dollars on the male enhancement drug Viagra last year, according to government contracts. The Pentagon issued 60 contracts worth$504,816 for the drug in 2014. All 60 contracts were awarded to Cardinal Health Inc., a pharmaceutical distribution company based in Dublin, Ohio. Last year DoD also ordered $3,505 worth of Levitra, and $14,540 of Cialis, other popular erectile dysfunction drugs. The contracts were filed under "Troop Support."
  • Welfare Payout Statistics That Will Make You Really Mad

    02/09/2015 5:43:26 AM PST · by blueyon · 11 replies
    Joe for america ^ | 11/015/14 | Joe For America
    Having trouble just making ends meet because of taxes that go to people who don’t work? Check your State and see how you’d do not working at all! [BELOW] Hit that share button and Tweet or send an email link to every working man and woman you know.
  • HSBC files show how Swiss bank helped clients dodge taxes and hide millions

    02/09/2015 2:14:08 AM PST · by 9thLife · 8 replies
    The Guardian ^ | Sunday 8 February 2015 16.00 EST | David Leigh, James Ball, Juliette Garside and David Pegg
    HSBC’s Swiss banking arm helped wealthy customers dodge taxes and conceal millions of dollars of assets, doling out bundles of untraceable cash and advising clients on how to circumvent domestic tax authorities, according to a huge cache of leaked secret bank account files. The files – obtained through an international collaboration of news outlets, including the Guardian, the French daily Le Monde, BBC Panorama and the Washington-based International Consortium of Investigative Journalists – reveal that HSBC’s Swiss private bank: • Routinely allowed clients to withdraw bricks of cash, often in foreign currencies of little use in Switzerland. • Aggressively marketed...
  • Obama Never Learns, Even After Six Years He Doesn’t Know What to Do

    02/08/2015 9:57:55 AM PST · by Sean_Anthony · 15 replies
    Canada Free Press ^ | 02/08/15 | Jerry McConnell
    No more tax increases; No more unnecessary spending; No more government growth. Those three items would take care of illegal aliens and gifts to foreign countries that have sworn to dislike and even hate us The elections that took place in November 2014 must have told the Socialist Democrats in Congress and the anti-Christian, pro Islam Obama Administration that the great majority of the country’s citizens are fed up with ever-increasing taxes, mindless and killing profligate spending and more growth in deficit creating, and Obama-welfare-type government. Why is it that the simple message of “NO” sent by the voters in...
  • Health Insurance Deadline Approaches, Penalties Will Double

    02/08/2015 8:13:18 AM PST · by george76 · 16 replies
    KOAA 5 ^ | Feb 07, 2015 | Maddie Garrett
    The penalty for not having health insurance this year is more than doubling. Coloradans have until February 15 ,2015, to shop for plans through the Connect for Health Colorado market place. Under the Affordable Care Act individuals are required to either have health insurance or pay a penalty at tax time. That penalty is either a flat rate or two percent of family income. This year, that rate is $325 per adult, $162 per child and up to $975 per family. Compared to last year the fine for an adult was only $95 and up to $285 per family.
  • IRS rehired 141 former employees with issues paying their own taxes

    02/07/2015 9:34:03 AM PST · by george76 · 15 replies
    Washington Examiner ^ | February 07, 2015 | Sarah Westwood
    Hundreds of former Internal Revenue Service employees who had a history of misconduct and poor performance on the job were rehired by the tax agency, including some who had committed fraud or falsified documents. The previously cited IRS staff included 141 employees who had problems paying their own taxes, the agency’s inspector general said in a report made public Thursday. Several had “willfully failed to file their federal tax returns,” the report said. The IRS hired more than 7,000 former employees between January 2010 and September 2013. Of the 824 who returned to the agency despite their checkered work history,...
  • Turbo Tax Resumes State E-Filing; Still Closed In Minn.

    02/06/2015 8:13:33 PM PST · by ButThreeLeftsDo · 7 replies
    WCCO.com ^ | 2/6/15 | WCCO
    Intuit Inc. announced that its software Turbo Tax has resumed e-filing of state income tax returns Friday afternoon. The company had temporarily suspended e-filing in all states over concerns of fraud after two Minnesota users reported that someone had already filed in their name.
  • IRS to Tom Brady: Nice Trophy. What's that Worth?

    02/06/2015 1:24:20 PM PST · by MichCapCon · 45 replies
    Capitol Confidential ^ | 2/6/2015 | Tom Gantert
    Former University of Michigan quarterback Tom Brady recently won his fourth Super Bowl, named MVP, and was rewarded with a lot of gifts. Brady even gave one of them to a teammate. But nothing is free, even when it’s free. Americans for Tax Reform estimated that Brady’s Super Bowl success will cost him $42,000 just in federal taxes. Here’s their breakdown: Brady was awarded a 2015 Chevy Colorado truck valued at $34,000. He pays 39.6 percent of that in income tax or $13,500. Brady reportedly gave the truck to teammate Malcolm Butler, who made a game-saving interception. That’s another $5,000...
  • IRS EITC Refunds To Illegals Show Obama Amnesty Fraud

    02/06/2015 10:16:31 AM PST · by raptor22 · 27 replies
    Investor's Business Daily ^ | February 6, 2015 | IBD EDITORIALS
    mmigration: Aliens granted executive amnesty by President Obama will be eligible for tax credits for the years they worked here illegally. But wasn't amnesty supposed to benefit the economy and not drain the U.S. Treasury? Subverting the Constitution to grant millions of illegal aliens work permits and freedom from deportation apparently isn't enough for the Obama administration. It now intends, through the Internal Revenue Service, to subvert the tax code to let these illegals collect billions in retroactive Earned Income Tax Credit (EITC) payments. IRS Commissioner John Koskinen, an unindicted co-conspirator in the cover-up of the IRS Tea Party targeting...
  • Enjoy Low Gas Prices While You Can…Because New Taxes in These States Might Wipe Out Your Savings

    02/06/2015 9:25:58 AM PST · by ThethoughtsofGreg · 27 replies
    IJ Review ^ | 1-31-15 | Kevin Boyd
    American drivers have been enjoying low gas prices lately. According to AAA, the national average price of gas per gallon is $2.03 for regular, compared to $3.29 this time last year. Also happy with low gas prices are state governments, but mainly for different reasons: politicians in certain states see low gas prices as an opportunity to raise the gas tax. Here’s a map of the states currently considering an increase in gas tax:
  • Obama's budget proposal eliminates tax benefits for stadium building

    02/06/2015 6:48:20 AM PST · by ConservativeStatement · 17 replies
    CBS Sports ^ | February 6, 2015 | Jared Dubin
    President Obama's latest budget proposal, released Monday, would eliminate tax breaks associated with city-funded professional sports stadiums. Many cities, when faced with either losing their teams to different areas of the country or ponying up taxpayer dollars to help owners finance a new, better stadium, choose the latter option. Some cities even contribute money when they're not in danger of losing the team. Surely, the cities of New York and Dallas (well, Arlington) did not think the Yankees or Cowboys would move away when their lawmakers approved $1 billion and $325 million contributions of tax-free debt, respectively, to help build...
  • 10 states with the worst taxes for average Americans

    02/05/2015 9:04:19 AM PST · by reaganaut1 · 24 replies
    Yahoo Finance / 24/7 Wall St ^ | Thomas C. Frohlich
    ... When looking at taxes paid as a share of the income earned, all states have a regressive tax system, which means poorer residents are taxed more than the wealthiest ones. The difference in effective tax rates between income groups, however, varies widely between states. According to “Who Pays? A Distributional Analysis of the Tax Systems in All 50 States,” a report released by the Institute on Taxation and Economic Policy (ITEP), Washington has by far the most regressive tax system nationwide. Based on the index score, a ratio calculated from a range of factors to measure income inequality before...