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Simply put, the American Families Plan calls for banks and other financial institutions to report more than just a taxpayer’s interest earned, capital gains and losses. Banks and other financial institutions would also be required to report “aggregate account outflows and inflows.” In other words, the IRS will know about all of your bank accounts, whether you earned income on that account or not, how much is in the account in a given year, and how much was transferred in and out of the account. Excerpted per Free Republic rules.

"Sources tell Fox News that..." (Apologies, posting from phone, way too early in the morning)

Chick-fil-A to develop into nation’s third-largest quick meals restaurant Chick-fil-A is cashing in. A brand new 2017 gross sales report exhibits the king of hen is rolling within the dough and is way exceeding its rival quick meals chains like McDonald’s and KFC. Look out, world. New Yorkers have found that their metropolis has 4 Chick-fil-A eating places – together with the world’s largest. Phrase bought out final week in a New Yorker journal article titled “Chick-fil-A’s creepy infiltration of New York Metropolis.” The creator is Dan Piepenbring, described as being from Brooklyn....

Though they may seem like it, the dates that holidays fall on aren't usually random. They typically commemorate a significant event that happened on or around that day. Obviously, this makes sense. However, it's hard to guess why April 15 was chosen as Tax Day, the deadline for filing and paying your taxes. The 16th Amendment, which instituted a national income tax, was passed by Congress on July 2, 1909 and ratified on Feb. 3, 1913, but neither of these days made the cut to be the Tax Day. What gives? If the April 15 deadline to file and pay...

Earlier this week we took a look at the GOP efforts to repeal the death tax, including some of the political pitfalls involved as well as reasons why it’s still a hill worth fighting on. In a rare moment of taking a position on a policy issue, Hillary Clinton has chimed in on the so called estate tax several times over the years. She has referred to it as a “wealth tax”, which works out quite well for her this year if she’s trying to angle her way into a more Elizabeth Warren style position on the subject. So...

Apple's market capitalization of $730 billion may now be more than double that of Exxon Mobil, but when it comes to taxes paid to the US government, it's no contest: the company with record profitability that so many progressive hipsters adore and for whose products they line up with annual regularity is billions of dollars below its "fair" contribution to the US Treasury. Ironically, it is eclipsed by that other company that so many progressives love to hate: Exxon Mobil, which paid $4 billion more in tax than Apple, yet whose valuation has been cut by 15% over the past...

Apple’s most recent quarterly numbers broke all sorts of records and, as we shall see, a number of laws. Apple just released its numbers for the quarter ending last December, the first quarter of its 2015 Fiscal Year. The figures are astonishing: iPhones: Apple sold 74.5M, + 57% over last year’s same quarter. iPhone revenue was $51.2B, + 57%. That’s enough iPhones for 1% of the world population, 9.4 iPhones for every second of the past quarter. I hope to see some day a documentary movie on the supply chain heroics leading (parts manufacturing, assembly, transportation logistics) required to achieve...

This news was actually uncovered by National Review a few days ago, but things have been rather busy so we didn’t get around to it until now. The tax problems which Al Sharpton has run into with his National Action Network are well known and frequently documented. While the non-profit is more than a million dollars in debt to the tax man, Sharpton continues to tap it for a more than one quarter million dollar salary. But as Jillian Kay Melchior discovered with a bit more digging, Sharpton has also started up and abandoned a variety of for profit...

President Barack Obama will propose a "grand bargain for middle-class jobs" on Tuesday that would cut the U.S. corporate tax rate and use billions in revenues generated by a business tax overhaul to fund projects aimed at creating jobs. His goal, to be outlined in a speech at an Amazon.com Inc facility in Chattanooga, Tennessee, is to break through congressional gridlock by trying to find a formula that satisfies both Republicans and Democrats. Efforts to reach a bipartisan "grand bargain" on deficit reduction have been at an impasse for months. Senior administration officials say Obama is not giving up on...

Apple made business decisions that saved it billions in taxes. What was so illegal about doing such a thing? Nothing, absolutely nothing, but don't tell that to the Democrats...

On Tuesday, KY Sen. Rand Paul launched a spirited defense of Apple, whose tax strategies were subject to a hearing of the Senate Permanent Subcommittee on Investigations. "I frankly think the committee should apologize to Apple," Paul said. Paul went on to accuse the committee of "bullying" one of America's greatest companies, prompting Sen. John McCain to quickly defend the inquiry and say that Paul's remarks were "frankly, offensive."

At a time when America desperately needs to come together, we are becoming more divided than ever. The mainstream media and most of our politicians love to pit us against one another in dozens of different ways, and right now class warfare has become one of their favorite tools for getting us to hate one another. If you are struggling in this economy, you are being told that "the wealthy" are the cause of your problems. If you have money, you are being told that the poor hate you and want to tax you into oblivion. Class warfare has already...

The New York Times reported Apple “paid cash taxes of $3.3 billion around the world on its reported profits of $34.2 billion last year, a tax rate of 9.8%.” Further more, Apple’s federal tax bill likely would have been $2.4 billion higher last year without these moves, says the Times. The fact remains Apple paid less tax than it would have otherwise had it not moved operations to low- or no-tax jurisdictions. Good for Apple. Wouldn’t it be wonderful if we all had the same flexibility?

Now that the open enrollment period has come to a close, the next challenge for Obamacare lies with the cash-strapped Internal Revenue Service, which is tasked with enforcing a handful of new provisions under the president’s healthcare law—including issuing penalties to Americans without health insurance.

The Boston Chief of Police reports a third explosion at JFK Library, some distance from the Marathon finish. No injuries reported.

Since April 15th (Later on today United States Time) is Kim il Sung 101st birthday, we think today would be the day for the DPRK to launch if they intend to. New Secretary of State Kerry is in the region trying to come up with his first victory since taking office. But the DPRK is not backing down. NORTH KOREA UNBENDING Pyongyang, which was preparing to celebrate the birth date of state founder Kim Il-Sung on Monday, reiterated it had no intention of abandoning its atomic arms programs. "We will expand in quantity our nuclear weapons capability, which is the...

IRS checking out your Facebook and Twitter to help keep you honest You have less than two weeks to file your taxes and your Facebook or Twitter accounts could end up getting you in big trouble with the IRS. They're looking for tax cheaters. The IRS has been known to check car records, employment documents and other public records. Now, your social media page is on that list too. “I think that’s a little bit ridiculous,” replied one person we talked to. Some of the people we talked to were surprised. “I think it’s still an invasion of privacy,” commented...

North Korean Diplomats 'Sell Millions of Dollars Worth of Drugs' North Korea sent a large amount of illegal drugs to its embassy in an East European country last December and ordered diplomats there to sell it for cash by early April, a diplomatic source here claims. "South Korean intelligence obtained the information from a North Korean agent who defected recently," the source said. "Similar orders were delivered to other North Korean embassies." North Korea has ordered each diplomat to raise US $300,000 to prove their loyalty and mark the birthday of nation founder Kim Il-sung on April 15. Each North...

What are the tax implications of the zombie apocalypse? The only certainties in life are death and taxes, but how do you handle the taxes when death doesn't go quite as planned? Law professor Adam Chodorow takes a stab at estate planning for the undead in perhaps the only legal paper to cite both the Internal Revenue Code and Weekend at Bernie's II. Chodorow, a professor at Arizona State University's Sandra Day O'Connor College of Law, authored the paper "Death and Taxes...and Zombies," which will appear in a forthcoming issue of the Iowa Law Review. Chodorow notes that, while the...

When you've turned nothing into something once already, you tend to feel like you can do it again. There's faith your luck will turn. Perhaps it's delusion. But for a professional poker player, self-confidence is essential. So it is for Walter Wright, who now finds himself in Costa Rica. He left his wife and two children behind to redeem their failing finances and faltering marriage by doing something that's now illegal in the United States—playing poker online. Wright's life began to change in 2005, when he followed his then-girlfriend from New Orleans to Virginia, where she was beginning law school...