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Tax News

News on Tax continually updated from thousands of sources around the net.

2 hrs ago | Investopedia

10 Steps To Tax Preparation

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.

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6 hrs ago | Newsday

Editorial: Political IDAs don't help taxpayers

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."

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Related Topix: Valley Stream, NY, Nassau County, NY, Opinion

10 hrs ago | The CPA Technology Advisor

Report Says IRS Needs to Improve Handling of Complaints Against Tax Preparers

The Internal Revenue Service is not processing complaints against tax preparers in a timely manner, according to a report publicly released today by the Treasury Inspector General for Tax Administration . The IRS processed about 77 million individually electronically filed Federal income tax returns prepared by paid tax return preparers in 2013.

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14 hrs ago | Washington Examiner

Melding health overhaul and taxes gets complicated

For example, the nation's main anti-poverty program, the Earned Income Tax Credit, uses the tax system to supplement the earnings of low-income families. PRO: Could build support for the health overhaul because tax credits have greater political popularity than traditional government spending programs.

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15 hrs ago | Washington Times

Hurdles for Obama health law in 2nd sign-up season

Potential complications await consumers as President Barack Obama's health care law approaches its second open enrollment season, just two months away. Don't expect a repeat of last year's website meltdown, but the new sign-up period could expose underlying problems with the law itself that are less easily fixed than a computer system.

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Related Topix: Healthcare Law, Law, US Politics, US News, Barack Obama

15 hrs ago | USA Today

Tax scams don't hit just during tax season

Sure, we're heading into the season of cider mills, crisp autumn leaves and pumpkin-flavored everything. But make no mistake, the tax-swindle is a year-round proposition.

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20 hrs ago | The Wichita Eagle

Florida attorney makes $8M, pays little tax

A South Florida attorney who earned more than $8 million over a decade's time didn't file his tax returns and is now heading to federal prison. A Fort Lauderdale federal judge last week sentenced 56-year-old Steven Siff of Davie to 13 months behind bars.

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Related Topix: Federal Prisons, Prison, Fort Lauderdale, FL

Sat Sep 13, 2014

The Fresno Bee

Dan Walters: Taxes on rich closed the state budget deficit

As Jerry Brown seeks his fourth term as governor this year, he's crowing about balancing the state budget after years of deficits that piled up a "wall of debt." He moderated the spending ambitions of his fellow Democrats and, more importantly, persuaded voters to enact temporary sales and income tax hikes, the latter only on the highest-income taxpayers.

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Related Topix: Jerry Brown, US Governors

The New Zealand Herald

Twitter 2014: Short and tweet on tax policy

Labour's proposed capital gains tax policy and National's tax cut plan provided a challenge to Twitter's inherent requirement for brevity. Photo / File Can Twitter handle serious policy debates? This week has been dominated by tax policy - in terms of National's tax cut plan and Labour's proposed capital gains tax - providing a challenge to Twitter's inherent requirement for brevity.

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Related Topix: Twitter

Forbes.com

Bid On Michael Jackson Treasures, Help Estate Fight IRS Too

I'm a tax lawyer based in San Francisco , but I handle tax matters everywhere. I enjoy untangling a tax mess from the past, disputing taxes with the government or planning taxes for the future.

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Related Topix: Dance, Black Entertainment, Pop/Rock, Michael Jackson, Economics News, Bankruptcy

The Motley Fool

Calculate Your 2014 Tax Refund Now

Even though we still have a long way to go until tax time, you can get a pretty good idea of the tax refund you can expect to get once you file your return next year. There are three basic components that go into how much you can expect to get back: your income, any deductions you're entitled to, and any tax credits you qualify for.

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Related Topix: Home, Mortgage, Personal Finance, IRA

Financial Times

Scotland after the vote: tax

Whether or not the Scottish electorate elects to remain part of the UK next week, the country's tax regime will not be left untouched. No. Limited legislative powers relating to tax have already been devolved to the Scottish government and more changes are afoot.

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Related Topix: Conservatives (UK)

National Center for Policy Analysis

What's the Cost of Filing Taxes? $37 Billion

Taxes are expensive enough, but what about the cost of tax compliance? Joshua McCaherty of the Tax Foundation attempted to measure the cost of filing taxes with the Internal Revenue Service. With years of new legislation, regulations and changing tax policy, the tax code today is monstrous, weighing in at more than 70,000 pages.

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WECT-TV Wilmington

'Party mansion' owner convicted of tax and healthcare fraud

A former Raleigh resident, known for the wild parties held at his "party mansion" in North Raleigh was sentenced Thursday to more than 10 years in prison for tax fraud, healthcare fraud and money laundering crimes, according to a United States Department of Justice release. In addition to the 135-month sentence, Claude Verbal II was ordered to serve three years of supervised release following his time in prison, to pay a restitution of more than $4 million to the Internal Revenue Service and to pay $2.3 million to the North Carolina Department of Health and Human Services.

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Related Topix: Raleigh, NC, Home Listing, Home, Durham, NC

Fri Sep 12, 2014

Detroit Free Press

Double latte with your bogus tax refund? Feds win guilty plea in Detroit scam

Free Wi-Fi at Starbuck's helped produce $1.8 million in bogus tax refunds for some Detroit customers.

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Related Topix: Detroit, MI, Wireless, Science / Technology, Wi-Fi, Emerging Technology

The Star

Other views: New low in the IRS scandal

Some U.S. Senate Democrats are trying to defend the Internal Revenue Service in a staff report that alleges the tax agency was equally severe with left-leaning and right-leaning groups seeking tax exemptions in 2010 and 2011. And they contend that the Treasury Inspector General for Tax Administration erred in his 2013 report saying the agency wrongly targeted conservative ones.

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The Motley Fool

The Earned Income Tax Credit: Super-Powerful, but Underused

Good intentions don't always produce desired effects. Consider, for example, the Earned Income Tax Credit .

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Related Topix: Personal Finance, Social Security

Cape Gazette

New videos provide tips on healthcare, tax returns

The Internal Revenue Service announced the availability of several new YouTube videos to help taxpayers get important information about the Affordable Care Act and tax return filing. The new videos, which are part of a series on the IRS YouTube channel, feature IRS Commissioner John Koskinen discussing the premium tax credit and the individual shared responsibility provision.

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Related Topix: Health Insurance, Health

Bangkok Post

Prayuth: Inheritance, property taxes due this year

Property and inheritance taxes will be imposed this year, with the property tax rate for residential use likely to be set at 1,000 baht for every 1 million baht of the appraised value. Prime Minister Prayuth Chan-ocha told the National Legislative Assembly on Friday tax reforms would be carried out, with the two new taxes to be collected starting this year.

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Business Journal

Attorney sentenced to prison for evading taxes

Attorney Steven E. Siff was sentenced to 13 months in prison for failing to file income tax returns.

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