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Tax News

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

2 hrs ago | Albany Times Union

Stefanik releases transparency plan, calls for Woolfa s tax returns

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.

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Related Topix: US News, US Senate, US Politics, Democrat, Senator Kirsten Gillibrand

6 hrs ago | The Skanner

Wealth Gap Report Paints Grim Picture for Oregon

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.

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Related Topix: Oregon Government, Oregon, US Governors, John Kitzhaber, US News

6 hrs ago | Business Journal

Anheuser-Busch credit union exec calls out banks on taxes

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.

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Related Topix: Beverages, Anheuser Busch Companies

10 hrs ago | CBS Local

Colorado Among States Most Reliant On Income Tax

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.

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12 hrs ago | Long Island Business News

NY tax receipts rise despite growing income gap

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.

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Related Topix: New York, New York Government

15 hrs ago | Boston Herald

New study on 'income inequality' looks at Mass.

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.

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Related Topix: Massachusetts, Massachusetts Government, Opinion

19 hrs ago | Iom Online

Don't miss deadline to submit tax return

Taxpayers are being reminded that the deadline for submitting personal tax returns for 2013/14 is now less than a month away. If the Income Tax Division has not received returns for the year ended April 5 by October 6, offenders will be charged a A 100 penalty.

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Sun Sep 14, 2014

The Leaf-Chronicle

Tenn. voters to decide ban on income taxTenn. voters to decide ban on ...

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.

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Related Topix: Tennessee, Tennessee Government, Financial Markets

ABC News

Hurdles for Obama Health Law in 2nd Sign-up Season

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.

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

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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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

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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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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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

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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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

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