News on Tax continually updated from thousands of sources around the net.
2 min ago | KEX-AM Portland
The Portland Police Bureau has received two recent reports where victims stated that someone claiming to be with the Internal Revenue Service called them and demanded money for back taxes. In one incident in late August, the victim received a voice mail from someone claiming to be from the "Tax Fraud Department" of the IRS.
4 hrs ago | The Washington Post
The House passed three bills Tuesday designed to highlight complaints that the IRS mistreated conservative political groups when they applied for tax-exempt status. One bill makes it illegal for IRS workers to use personal email accounts to conduct official business.
6 hrs ago | MySanAntonio.com
Kansas Gov. Sam Brownback pushed through extreme tax cuts. The wealthy benefited, but state coffers, schools, job growth and public services are suffering.
10 hrs ago | KSLA-TV Shreveport
A man living in Houston faces more than 20 years in prison for running a tax returns scam in which at least 600 people had their identities stolen. Amon Rweyemamu Mtaza pleaded guilty Tuesday to conspiracy to commit wire fraud, wire fraud and two counts of aggravated identity theft.
12 hrs ago | Washington Times
"If elected, I will sponsor legislation to eliminate the federal income tax, cut federal spending to the 1998 level and get the IRS off the backs of taxpayers." And so say the 40 official Libertarian Party candidates running for office around the nation in a public pledge.
16 hrs ago | The Charlotte Observer
RALEIGH, N.C. The income gap that's been growing for years increasingly is undermining public treasuries in North Carolina and other states, a new report by the investment rating agency Standard & Poor's says. North Carolina is among the 10 states most reliant on income tax revenues, the S&P report released Monday said.
Tax revenue in Connecticut is more volatile than in most other states as capital gains and stock trades for the rich gyrate while wages earned by everyone else have barely increased since before the recession, according to a new report. Tax revenue growth has also slowed to 7.3 percent since 2009 from a high of 10.8 percent in the 1980s, according to the report released Monday by credit rating agency Standard & Poor's.
In keeping with Monday's theme of calling for transparency and tax returns, Republican congressional candidate Elise Stefanik released her accountability and transparency plan and continued her calls for Democrat Aaron Woolf, whom she is challenging in the 21st district, to release his tax returns. "It's time for a new generation of leadership in Washington, DC," Stefanik said in a statement.
A new report showing that rising income inequality could negatively affect state tax revenue comes amid a push by Gov. John Kitzhaber, legislative Democrats and others to overhaul Oregon's tax code. With no sales tax and property taxes constrained by 1990s ballot measures, Oregon relies on the income tax for nearly $7 of every $10 it collects - more than any other state.
Dave Osborn , president of the Anheuser-Busch Employees' Credit Union, said complaints from bankers about tax exemptions that credit unions receive are hypocritical because banks receive their own massive tax breaks. "Nearly 40 percent of the banks in Missouri and one-third of banks nationally pay no federal income tax," Osborn said.
Colorado is among the top 10 states most reliant on income taxes for revenue, according to a new report concluding that income inequality is contributing to slower economic growth nationally. The report released Monday by the credit ratings agency Standard & Poor's finds that from 1980 to 2011 the average annual state revenue growth fell to 5 percent, from 10 percent.
New York tax collections have continued rising despite a growing income gap between its richest residents and everyone else, even as a national study shows overall growth in state tax receipts slowing as the income gap widens across the U.S. State officials say New York's progressive income tax rate, which rises from 4 percent to nearly 9 percent for earnings above $1.03 million, buoys its largest revenue stream for public services and helps insulate it from the problem faced by states dependent on more regressive taxes like sales taxes.
Advocates for changing Massachusetts' personal income tax may have new fuel for their campaign, as a new national study suggests a more progressive income tax that requires wealthier individuals to pay higher tax rates could help states deal with revenue problems. Standard & Poor's, in a study released Monday, found that the improving fortunes of the nation's top earners corresponds with a decades-long slowdown in tax revenue growth among states.
Tenn. voters to decide ban on income tax Tennessee hasn't seriously considered income tax since failed 2002 attempt Check out this story on theleafchronicle.com: http://leafne.ws/1s2PdWz Tennesseans are just weeks away from voting on a constitutional amendment to bar lawmakers from ever imposing a state income tax. The November vote approaches as a new study from ratings agency Standard & Poor's suggests that rising income inequality has a stronger negative effect on the states most reliant on sales tax revenues compared with those with those more dependent on income taxes.
In this April 1, 2014 file photo, President Barack Obama, accompanied by Vice President Joe Biden, makes a statement on the Affordable Care Act, in the Rose Garden of the White House in Washington. Potential complications await consumers as... View Full Caption FILE - In this April 1, 2014 file photo, President Barack Obama, accompanied by Vice President Joe Biden, makes a statement on the Affordable Care Act, in the Rose Garden of the White House in Washington.
There is still plenty of time left until the April 15 income tax filing deadline. But why wait until the last minute to get your affairs in order? By preparing now, you'll make your and your accountant's life a lot easier come crunch time.
Bical Chevrolet in Valley Stream has received tax breaks from Nassau County to reburbish its showroom and other buildings. We shouldn't call them "tax breaks."
Updated: Tue Sep 16, 2014 11:06 pm
Copyright © 2014 Topix LLC