Tax Information

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Small Businesses Filing Amended Federal Tax Returns to Recover Money


Small Businesses Filing Amended Federal Tax Returns to Recover Money By Darren Oliver April 15th may be gone but, but certainly not forgotten ? especially if you, like millions of small businesses, unknowingly overpaid your federal taxes and can recover money by filing an amended return. According to the IRS tax code, you have three years from the filing date for the tax year in question to file an amended return. For example, if returns for the 2003 tax year were filed on March 1, 2004, the taxpayer has until March 1, 2007 to file an amended return. This same rule also applies if the taxpayer feels they have made errors resulting in a balance. Most business owners either prepare their business taxes themselves or have a tax preparer or accountant do them. With either method, the tax liability can be calculated as higher than it actually is because of missed deductions, unrecognized changes in tax laws or just plain being given bad advice. There are a number of applicable deductions which many tax preparers often miss from home office deductions to self-employed health insurance to personal assets converted to business use. Although some deductions may seem minor, over an entire year, they can add up to thousands of dollars. Another area, which causes many businesses to overpay, is being given incorrect advice by their tax preparer or even the IRS directly. In a poll performed by Money Magazine, the average tax preparer produces an average of 480 returns between February 1 and April 15, making it difficult for each return to get the time and attention it deserves. This same poll also found there was an average discrepancy of 300% between what the tax preparers said was due and what was actually due. Furthermore, in the IRS?s 2001 assessment of their own call centers, they found that 50% of the time, their representatives gave incorrect or insufficient advice. Whether a business owner does their taxes themselves and had to call the IRS for clarification on an issue or a CPA did, odds are the answer was not correct. The United States tax law is one of the most complex in the world. Not to mention, tax laws change every year and have changed tremendously in the last couple of years. Even the best tax preparer, CPA or even IRS representative can, like all humans do, easily make a mistake. In 2002 alone, 3.3 million taxpayers filed an amended return. Samuel Rowley, owner of Muffler Masters in Colorado, was able to recover $14,500 through the filing of an amended return when it was found that he overpaid FICA and payroll taxes. Another small business owner, Karen McClafflin, owner of home-based Secret Canyon Realty, was able to recover $11,000 when her tax preparer failed to include home office and automobile deductions in her past returns. Why is it that when faced with a life-threatening surgery a second opinion is immediately sought after but, when trusting thousands or millions of dollars to an individual or entity, it?s done without question? Businesses must get a second opinion, whether it is done before or after the return is filed, to ensure they are not overpaying or simply to ensure their returns are accurate in all aspects. If not, they could be leaving thousands of dollars on the table.

How Home-Based Businesses Can Avoid Giving Uncle Sam More than His Share


How Home-Based Businesses Can Avoid Giving Uncle Sam More than His Share By Darren Oliver With the rush to file your taxes by April 15th, you probably did not consider the possibility that you overpaid. According to the General Accounting Office, in 1998 alone, there was $311 million paid unnecessarily to the IRS. Do not count on the IRS to tell you if you have overpaid because they are not required to but you can file an amended return for up to three years. Chances are, you either prepare your business taxes yourself or have your tax preparer or CPA does them. There a number of issues surrounding either tax preparation method, which can result in your tax liability being calculated as higher than it actually is including missed deductions, numerous changes in tax laws or being given incorrect advice. As a home-based business professional, there are a number of deductions you are entitled to which many tax preparers often miss. For example, if you run a home office you are entitled to deduct expenses for the percentage of square footage the home office is occupying. Expenses include the combined total of mortgage interest, property taxes, utilities, repairs, etc. For example, if 250 square feet of a 1,000 square foot house is being used for a home office, you are entitled to deduct a quarter of your total expenses. Although some deductions may seem minor, over an entire year, they can add up to thousands of dollars that you are unnecessarily paying the IRS. That is money that you could be using to grow your business. Karen McClafflin, owner of home-based Secret Canyon Realty in Colorado Springs, CO, was able to recover $11,000 when her tax preparer failed to include home office and automobile deductions in her past returns. Another area, which causes many business owners to overpay, is being given incorrect advice by their CPA, tax preparer or even the IRS directly. In a poll performed by Money Magazine, the average tax preparer, prepares an average of 480 returns between February 1st and April 15th, that is a lot of returns in a relatively short amount of time which makes it difficult for your return to get the time and attention it deserves. This same poll also found there was an average discrepancy of 300% between what the tax preparers said was due and what was actually due. Moreover, in a poll of 50 professional tax preparers, consisting of 10 basic tax questions, none answered all 10 questions correctly and only 34 got at least half correct. This problem does not extend to just tax preparers or CPA?s. In the IRS?s 2001 assessment of their own 544 call centers, they found that 50% of the time, their representatives gave incorrect or insufficient advice. Whether you do your taxes yourself and had to call the IRS for clarification on an issue or your CPA did, odds are the answer was not accurate. The United States tax law is one of the most complex in the world. Not to mention, tax laws change every year and have changed tremendously in the last couple of years. Even the best tax preparer, CPA or even IRS representative can easily make a mistake or, forget to use an exemption which could reduce your tax liability. If you have not yet filed your taxes, it is a good idea to get a second opinion from an independent source. The extra money and time spent in doing this could save you thousands. Look for someone or a company who: Has sufficient years preparing home-based business tax returns Prepares less than the average number of returns between January and April so that your return gets sufficient time and attention. Have had clients get a second opinion. In addition, talk to those clients to get there first hand insight. Is willing to pay for a second review of your tax returns to ensure accuracy. Is willing to take MSN?s online Tax IQ Test at http://moneycentral.msn.com/investor/calcs/n_taxq/main.asp. Although designed for consumers, this test contains basic tax information that even junior level tax preparers should know. Just as you trust a surgeon with your life, you trust this individual or company with your money and confidential information. Be highly selective and do not be afraid to put them through a rigorous qualification. If they are not willing to participate in your qualification then either they do not know their stuff or, your business is not that important to them. If you already filed your taxes or think you might have missed out on deductions, have been given bad advice or failed to take advantage of a tax law change which could reduce your liability for previous tax years, what can you do? The good news is that by law, the IRS is required, for up to three years, to review your returns and records as many times as needed to find errors. You have the same three years to get a second opinion and file an amended return. In fact, in 2002, 3.3 million taxpayers filed an amended return. Samuel Rowley, owner of Muffler Masters in Colorado Springs, was able to recover $14,500 through the filing of an amended return when it was found that he overpaid FICA and payroll taxes. You may worry that an amended return will trigger an audit however; the IRS itself admits this is not the case. In 2002 alone, 3.3 million taxpayers filed an amended return. The IRS is not the big, bad agency we used to know. In fact, statistics show that audits are down and continue to decline. Businesses throughout the U.S. overpay their taxes to the tune of billions each year and your money could be part of the billions that is overpaid. When it comes to your taxes, always get a second opinion to ensure you are not paying more than you should and, you can even hit pay dirt by looking back.

Alas! In E-Commerce Taxland


In trying to comply with tax laws for your e-business, you may find yourself falling down the rabbit-hole, going through the looking glass, and attending a Mad Tea-Party.

Rearrange Your Affairs For Maximum Tax Savings


One way to maximize your business profits is by reducing your taxes. Frequently, income and other taxes could be lowered significantly if only the taxpayer were willing to plan ahead. By taking some simple steps to rearrange your affairs, you could save a fortune!

Organizing Your Taxes


Does this scene sound familiar? It?s April 7. You haven?t seen the top of your dining room table in two weeks because of the piles of paid bills, receipts, canceled checks, and unidentified cash register receipts covering it. Your head pounds and your stomach churns as the countdown to April 15 begins.

Seven Key Tax Deductions for the Self Employed


As a sole proprietor, it?s wise to familiarize yourself with the some key deductions that may reduce your tax bill for 2004.

How To Set Up A Tax-Saving Bookkeeping System


One of the most important, but least understood or appreciated aspects of any business is its bookkeeping or accounting system. And, because very few people know much about the reasons for a bookkeeping system, most people are frightened by the thought of the work involved in setting up such a system, and the drudgery of daily maintenance.

Knock-Knock-Knock


Knock-Knock-Knock

How to Reduce the Estate Tax Using the A-B Revocable Living Trust


In a past article I relayed the plight of the widow who stated:

Keeping Your Own Money ? NOT Handing It Over To The Taxman


Most people trying to make a crust online (or offline for that matter) are so focused on doing just that, they ignore taking simple steps to ensure that they hang on to just as much of it as they can. Instead, they hand over large lumps of their hard-earned money in tax, usually in one of two mistaken beliefs. Either:

Tax Reform, My Way


We need real tax reform and we need it now. Previous attempts have been made at tax reform, but they have only provided band-aid solutions that have still left us with too many quirks, complication, and read tape. There are several things Congress could do to simply the tax system and benefit the taxpayers and federal budget at the same time.

Surprising Truths About Tax Preparers


Choosing the right tax preparer for your business is a decision best not left until April. A former tax preparer and small business mastermind offers insights into the secret world of tax preparers.

Navigating The Internet Sales Tax Laws


QUESTION: I have been contacted by my local city government to say that my business is scheduled to be audited to determine if I owe any sales tax from items purchased on the Internet. Can they really make me pay this tax? I thought you could buy things online tax free? -- Katie R.

Home Based Business Tax Deductions


Running a home based business reaps many wonderful tax deductions that other businesses some times may not claim. Unfortunately to many small business owners end up paying the government taxes every year because they are unaware or several small business deductions that are available.

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3 tax-planning lessons from Joe Biden's tax returns  CNBC

If you suddenly missed on a big tax deduction back in 2018, you're not alone. The former vice president was unable to deduct the full value of his state and local ...


No More Deals: San Francisco Considers Raising Taxes on Tech  WIRED

In 2011, San Francisco cut taxes to lure tech firms. Eight years later, gaping income inequality has city officials looking for ways to get tech to pay its share.


The New Biden Tax  The Wall Street Journal

For a candidate who was supposed to be the voice of moderation in the race for the Democratic presidential nomination, Joe Biden spends a lot of time ...


Thousands likely overpaid property taxes due to computer glitch  New York Post

Actor Bruce Willis is among the thousands of Big Apple residents who may have overpaid their property taxes due to a new $18 million Department of Finance ...


Trump’s Tax Law Threatened TurboTax’s Profits. So the Company Started Charging the Disabled, the Unemployed and Students.  ProPublica

ProPublica is a nonprofit newsroom that investigates abuses of power. Sign up for ProPublica's Big Story newsletter to receive stories like this one in your inbox ...


JCPS wants to build new schools. But it may need more tax dollars, Marty Pollio says  Courier Journal

Faced with over $1 billion in facility needs, Jefferson County Public Schools is considering new ways to raise tax dollars. The JCPS board on Tuesday signed off ...


Beware. Other Nations Will Follow France With Their Own Digital Tax.  The New York Times

Last Thursday, the French Senate passed a digital services tax, which would impose an entirely new tax on large multinationals that provide digital services to ...


Businesses owe Shelby County millions in delinquent property taxes, records show  WREG NewsChannel 3

As of May 15, the top 60 delinquent taxpayers owed about $10 million in taxes due on dozens of properties including new hotels, restaurants, overgrown lots, ...


AC Hotel project to pay $200K in Missoula property taxes, up from $15K  Missoula Current

After winning final approval from the Missoula City Council on Monday night, a Montana developer set to break ground on a new downtown hotel detailed the ...


Group halts effort to refer $1B in new Oregon taxes for schools to voters  KTVL

SALEM, Ore. (AP) — An Oregon business group says it will no longer try to overturn an education tax package meant to provide a $1 billion funding increase to ...


Analyst: Seattle wants SCOWA to pass income tax because voters won’t  MyNorthwest.com

A decision by the Washington State Court of Appeals could allow the City of Seattle to impose a flat-rate income tax — and would open up the door for other ...


Shop these sales tax holidays to save on back-to-school shopping  WUSA9.com

Some states allow consumers two days or more of tax-free shopping before school starts. This gives families a chance to save money on clothes, shoes, ...


Lawmakers slash personal income taxes in state budget deal  10TV

COLUMBUS, Ohio (AP) — Ohio would cut personal income taxes by 4%, keep a debated business tax break and change how pharmacy benefits are ...


In 1943, the chairman of the NY Fed backed Modern Monetary Theory: "Taxes for Revenue Are Obsolete"  Boing Boing

Modern Monetary Theory is the latest incarnation of chartalism, the economic theory that holds that government spending -- and a federal jobs guarantee ...


Property taxes to increase 2% for most homeowners this year  OCRegister

Most real estate owners in Orange County will see a 2% increase in their property tax bills due next December and April, the third straight year that assessments ...


This work perk can help you build wealth — or load you up with taxes and risk  CNBC

Company stock rewards workers with a share of ownership. Just make sure you aren't setting-and-forgetting this work perk. Failure to manage it properly could ...


Silicon Valley tax trick helps investors save big  Fox Business

A provision in the tax code can help investors and tech workers lower capital gains obligations.


Upstate city considers raising property taxes to pay for police, firefighter raises  WYFF4 Greenville

One Upstate city is considering raising taxes to give police and firefighters pay raises. The suggestion has people living and working in Travelers Rest split.


France Approves Tax On Big Tech, And U.S. Threatens To Retaliate  NPR

French lawmakers have approved a tax on digital companies that will affect U.S. tech behemoths known in France as "Les GAFA" — Google, Amazon, Facebook ...


As Nations Look to Tax Tech Firms, U.S. Scrambles to Broker a Deal  The New York Times

The proposed levies on firms like Facebook and Google are pitting traditional allies against one another and threatening to set off a cascade of tax increases ...


Property taxes in Horry County are increasing as home reassessments take place  wpde.com

Many people in Horry County recently received a notice from the Horry County Assessor's Office regarding an increase in property taxes. One of the main things ...


Canadian Town Says Yes to Accepting Bitcoin for Property Taxes  Cointelegraph

Canadian crypto solutions provider Coinberry has struck its second municipal partnership to provide bitcoin payments processing for property taxes.


How a Tax Loophole Is Helping Silicon Valley Workers Save Millions  The New York Times

A little-known tax break allows some start-up employees who own company stock to avoid paying taxes on up to $10 million when they sell their shares.


What the IRS doesn’t tell you about self-employment taxes  MarketWatch

Many taxpayers get confused about whether they owe the 15.3% self-employment tax.


Op-Ed: How the U.S. tax code keeps the illegal market for marijuana alive and well  Los Angeles Times

Cannabis businesses are not allowed to take tax deductions for normal business expenses like employee salaries, rent and utility bills.


22 States Considered Eliminating the ‘Tampon Tax’ This Year. Here’s What Happened.  The New York Times

Menstrual products are subject to sales taxes in 35 states, and lawmakers' efforts to exempt them have foundered. Now supporters of 'menstrual equity' are ...


Corporate tax cuts blocked at least 15,000 affordable homes in California. Here’s how  Sacramento Bee

Affordable housing advocates warned that the corporate tax cuts passed by Republicans in 2017 could have disastrous effects on the development of more ...


If Your Compensation Package Includes Stock, You Should Know About This Tax Rule  Lifehacker

If you work for a small business or startup and receive shares of stock as part of your employee compensation, ask your accountant about the qualified small ...


Manufacturers abandon effort to repeal new $1 billion Oregon business tax  OregonLive

The news means the tax on Oregon sales will almost assuredly go into effect in January, providing a considerable boost in Oregon education spending.


Solution: Alternative revenue sources could bolster city budget, lower tax rate  The CT Mirror

A Bertucci's restaurant in Massachusetts, a state that allows its cities and towns to levy an 0.75 percent local meals tax. The policy is generating over $100 ...


Senate ratifies long-stalled tax treaty | TheHill  The Hill

The Senate on Tuesday ratified a protocol updating a tax treaty between the U.S. and Spain — the first of four agreements that are slated to get a vote this week ...


'This has got to be wrong': Disabled veteran's home sold at auction over $236 tax bill  USA TODAY

Jim Boerner thought he had done everything right. Now, the home's new owner says he won't negotiate and will begin the eviction process.


Taxing Yachts • Digital Taxes • Valuations  Bloomberg Tax

This week's Bloomberg Tax Insights recap looks at the status of the OECD's project to write multilateral rules on taxing the digital economy; the impact of the ...


State Court of Appeals rules Seattle’s wealth tax is unconstitutional, but gives cities new leeway  The Seattle Times

Seattle now intends to again ask the Supreme Court to review the case, said a spokesman for Seattle City Attorney Pete Holmes. The city will try to persuade the ...


Taxes fuel frustrations for residents  Warwick Beacon

By ETHAN HARTLEY Property tax bills for the first quarter of FY2020 were technically due yesterday. However, considering how some residents in Warwick only ...


How much would a wealth tax really raise? Dueling economists reflect new split in Democratic Party  CNBC

The wealth tax proposed by Sen. Elizabeth Warren has sparked a fierce — and increasingly personal — debate between the party's traditional academic elite ...


Florida schools deducted payroll taxes from state-awarded teacher bonuses  Orlando Weekly

Lawyers representing teachers are accusing the Florida Department of Education of improperly allowing school districts to deduct employer taxes from teacher ...


Cryptocurrencies, digital tax top agenda for G-7 meeting  ABC News

Finance officials from the Group of Seven rich democracies will weigh risks from new digital currencies and debate how to tax tech companies like Google and ...


Council rejects Lafayette Parish industrial tax exemption request  The Advocate

A Duson business was denied an industrial tax exemption Tuesday by the Lafayette City-Parish Council.


What If Charity Replaced Taxation?  Foundation for Economic Education

Data show that rich countries that adhere to a welfare state model are not the most generous ones. When we check the Charities Aid Foundation World Giving ...


Two Local Businesses Behind on Taxes  KAAL

According to the Minnesota Department of Revenue, more than 60 businesses have been added to the tax delinquincy list for businesses that serve liquor, wine ...


Facebook answers how Libra taxes & anti-fraud will work  TechCrunch

Facebook provided TechCrunch with new information on how its cryptocurrency will stay legal amidst allegations from President Trump that Libra could facilitate ...


America needs to see Amazon’s tax returns  The Verge

Tax law keeps us from knowing what Amazon's tax bill really is — even as politicians like Joe Biden, Elizabeth Warren and even Donald Trump call out the ...


North Arkansas leaders concerned about impacts of Walmart property tax case in Pulaski Co.  KY3

Leaders in a north Arkansas county are concerned about the possible impacts of a Pulaski County court case involving a big-box retailer.


Lindberg Village homes destroyed in fire to receive tax cut  wlfi.com

Tippecanoe County Assessors evaluated the damaged homes and provided disaster relief forms to those owners.


Kentucky Skirmish: Mitch McConnell Irks Rand Paul With Push on Tax Treaties  The Wall Street Journal

In the latest scuffle between Kentucky's two GOP senators, Mitch McConnell has scheduled votes on changes that Rand Paul opposes to four tax treaties, ...


Beware the digital tax trap | TheHill  The Hill

The business tax reforms embedded in the Tax Cuts and Jobs Act (TCJA) remain the crown jewel of the Trump administration's economic policy.


Butte County moves forward with increasing wheel tax, mill levy  Black Hills Pioneer

BELLE FOURCHE –– With more than $12 million worth of road and bridge work needed within the next five years, the Butte County Commission held a special ...


Cuomo Signs a Bill to Allow Release of Trump’s State Tax Returns  The New York Times

As the battle over President Trump's federal taxes intensifies in Washington, Gov. Andrew M. Cuomo of New York signed a bill on Monday to allow ...


Joe Biden is rich, but his taxes tell us more  CNN

Like almost all middle-class Americans, the Bidens paid tax at the "ordinary income" tax rate, writes Edward J. McCaffery. But who does not pay ordinary income ...


Cadillac Tax Would Impact 1 in 5 Employers Who Offer Coverage  AJMC.com Managed Markets Network

If the High-Cost Plan Tax, also known as the Cadillac tax, goes into effect in 2022, 21% of employers who offer coverage would be impacted, and that ...


The comeback state of 2019: Kansas economy rebounds from tax-cutting disaster  CNBC

Kansas is running a budget surplus this year, and it is a big deal for the state, which saw revenue vanish in a disastrous tax-cutting experiment by former Gov.


This crazy map shows you how complicated the tax code has become — and it will make you weep  MarketWatch

Got a problem with your taxes? Get ready for a long and winding road. A new “roadmap” charts the labyrinth inside the Internal Revenue *Service* for taxpayers ...


Why taxes are going down in Vicksburg  WOODTV.com

Vicksburg leaders held a celebration Monday commemorating the recent decision to cut taxes for residents and businesses.


Explainer: Will India's tax on the rich hit foreign investment inflows?  Yahoo Finance

NEW DELHI/MUMBAI (Reuters) - The government's budget proposal earlier this month to increase taxes on those with annual incomes of more than 20 million ...


Amazon's less-than-zero tax rate is unacceptable  CNN

Edward McCaffery writes that it's good that Democrats are not turning a blind eye to Amazon's ability to avoid federal taxes. We should insist our politicians fight ...


TARTA committee recommends putting off tax question, fare increase until spring  Toledo Blade

A TARTA committee has endorsed placing a sales-tax proposal on the local ballot during Ohio's presidential primary election in March. The committee also ...


Superstar Coco Gauff To Face High, Complicated UK Taxes  Forbes

Coco Gauff is Wimbledon's breakout star. She is about to learn the tax complexities of playing all over the world, especially in high-tax nations like the UK.


A Message From the Billionaire’s Club: Tax Us  The New York Times

A group of wealthy Americans, some with inheritances and some with self-made fortunes, are calling for a tax on the net worth of people like them.


Find Out If Your State Is Having a Back-to-School Tax-Free Weekend in 2019  Lifehacker

Gone are the days when parents could swing by the drugstore for a new Trapper Keeper and declare back-to-school shopping done. The lists of required school ...


Joe Biden Used Tax-Code Loophole Obama Tried to Plug  The Wall Street Journal

Democratic presidential candidate Joe Biden used a tax loophole that the Obama administration tried and failed to close, substantially lowering his tax bill.


Hernando County residents could see 14% property tax rate increase  ABC Action News

Hernando County is nearly broke, and digging out of a $10 million budget hole could mean a 14% property tax rate increase for residents.


Luxury Sales Spike as Buyers Rush to Avoid Higher Mansion Taxes  The New York Times

Among the dizzying number of June transactions were a record townhouse sale and Jeff Bezos's three apartment purchases for $80 million.


Schumer makes push to restore LIers' tax deductions  Newsday

Senate Minority Leader Chuck Schumer is renewing his push to restore the thousands of dollars in state and local property tax deductions that Long Islanders ...


Tax credit for stay-at-home parents: the new proposal, explained  Vox.com

About 11 million parents in the US don't work for a wage. Most of those are stay-at-home moms primarily at home for caregiving reasons, but it's a group that also ...


Myriad ideas exist to solve Hartford’s property tax dilemma  The CT Mirror

Owner John Tornatore's Gordon Bonetti Florist is one casualty of Hartford's unique property tax system, which leans more heavily on businesses than ...


IRS Form 5329: Reporting Taxes on Retirement Plans  Yahoo Finance

When filing taxes, it's important to make sure you're reporting all of your income correctly. That includes making note of early distributions from qualified ...


Taxing Inheritances Won’t Fix Social Security  National Review

Senator Chris Van Hollen (D., Md.) has a new proposal to hike the estate tax. Specifically, he'd cut the exemption in half (from $11.4 million per individual this ...


Cubs co-owner Todd Ricketts’ property tax appeal under investigation after Tribune finds assessment problem  Chicago Tribune

Todd Ricketts, Cubs co-owner and Republican National Committee finance chairman, has reaped tens of thousands of dollars in property tax savings due to an ...


Scott Taylor pays Norfolk property taxes late — again  Virginian-Pilot

Norfolk property taxes were due June 5, but former one-term congressman Scott Taylor , who announced a bid for U.S. Senate this week, has taken more than a ...


People angry over rising inflation, heavy taxes in PoK  India Today

People in Pakistan occupied Kashmir (PoK) are facing immense difficulties due to the consistent increase in inflation rates and heavy pay taxes implemented by ...


Narrative-Busting Data: Every Income Group Got a Tax Cut in 2018...Except Millionaires  Townhall

As data continues to pour in, the facts are once again affirming what many of us have known for quite some time: The GOP-passed tax reform law, which was ...


House Files Lawsuit Seeking Disclosure of Trump Tax Returns  The New York Times

WASHINGTON — The House sued the Treasury Department and the Internal Revenue *Service* on Tuesday, demanding access to President Trump's tax returns ...


Taxing services beyond accounting, law and consulting is necessary in Chicago: Cahill  Crain's Chicago Business

If Lori Lightfoot is serious about fixing city finances, she'll press Springfield for approval to tax a wide range of services that currently go untaxed.


Some Families Plan To Leave Chicago After Major Property Tax Increases  CBS Chicago

CHICAGO (CBS) — Property tax increases in Cook County are going beyond sticker shock. For some families it's life-changing, and they say they will have no ...


Hillsborough County Administrator proposes shifting transportation tax money  ABC Action News

What's happening with the transportation tax? That's a question that is consistently asked to our Driving Tampa Bay Forward tip line. Commonly called "All for ...


Donald Trump Throws a Tax Bomb at Emmanuel Macron  Bloomberg

The White House is using France's digital tax in an attempt to divide and rule in the EU. It's a big test of whether Europe's leaders will stand by Paris.


I’m in the 1 Percent. Please, Raise My Taxes.  The New York Times

Wealthy people like me should commit to reducing the ravages of economic inequality.


Gas taxes to rise in these states in July  Fox Business

The national average for fuel prices as of Friday was $2.70 per gallon.


France to tax flights from its airports, airline shares fall  Reuters

PARIS (Reuters) - France will introduce a tax on airlines flying from its airports to help support the environment, the transport minister said on Tuesday, in a move ...


Boris Johnson says tax cuts bring in revenue. But we now know that’s a myth  The Guardian

He cites the Laffer curve theory – yet it's no more credible than a magic money tree, says Guardian columnist Polly Toynbee.


Gavin Newsom will decide whether Trump must release tax returns to get on 2020 ballot  Sacramento Bee

California lawmakers approved a bill on Thursday to force President Donald Trump to publicly release his tax returns ahead of the 2020 election, setting the ...


Japan's Looming Sales Tax Hike Prompts Less Rush Demand So Far  Bloomberg

Japan's economy is less likely to suffer a painful whiplash from a sales tax increase scheduled for October, early sales figures for autos and apartments suggest.


Stop monkeying around with our tax dollars  Washington Examiner

Big Government lobbyists and entrenched bureaucrats are predictably hysterical about a common-sense congressional push to improve transparency and ...


Georgia woman gets prison for stolen UI employee tax refunds  MDJOnline.com

DAVENPORT, Iowa (AP) — A Georgia woman who used the identities of dozens of University of Iowa employees to fraudulently collect more than $450000 in ...


How a ‘Wealth Tax’ Could Work  The New York Times

A reader says give the wealthy a chance to decide how their money will be spent.


Illinois taxpayers to face $2.1B in new taxes on July 1  Illinois Policy

Starting this July, Illinoisans will pay higher taxes on gasoline, cigarettes, video gaming and more.


Gas Taxes Rise in a Dozen States, Including an Historic Increase in Illinois  Just Taxes Blog

On January 1, 1990, the Berlin Wall was standing, Nelson Mandela was still in prison, and Illinois was raising its excise tax on gasoline to 19 cents per gallon.


Berkshire Mall sells for $1M after new player clears tax debt  Berkshire Eagle

LANESBOROUGH — An Ohio investor is poised to write a new chapter in the Berkshire Mall's history.A company identified as Durga Property Holdings Inc.


Did your property value assessment skyrocket? Here’s what will happen to your taxes  Myrtle Beach Sun News

What does a recent property value appraisal & assessment mean for Horry County, SC taxes? It depends on how much your house went up. There is an appeals ...


The $40-billion reason Canada needs real corporate tax reform  Financial Post

Opinion: Government tax preferences and handouts hurt us more than any international tax avoidance.


Guilford landscaper gets prison for tax evasion  New Haven Register

BRIDGEPORT — A Guilford landscaper who pleaded guilty to tax evasion has been sentenced to prison, according to federal authorities. Louis Pocograno, 58 ...


Fort Collins Peloton Cycles is shut down due to unpaid taxes  The Coloradoan

Peloton Cycles bike shop was shut down due to owing more than $36,000 in back taxes, according to signs posted on the business' door Tuesday.


Here’s a look at some of the tax increases and other new laws taking effect in Illinois on July 1  Chicago Tribune

Gas and cigarettes will cost more in Illinois starting Monday, and drivers will face stiffer penalties the first time they're caught texting behind the wheel.


Retired feds avoid high-tax states  Federal News Network

Are there states where retirees can get tax breaks and enjoy a better standard of living? Short answer: Yes.


Ada County didn’t collect all the taxes it could for years. Now it may claw some back.  Idaho Statesman

Ada County is considering collecting more than $5.5 million in forgone taxes to pay for a new coroner's office and a driver's license office and to expand the jail.


Avoid State Taxes on Crypto With US Supreme Court’s Recent Trust Decision?  Cointelegraph

Robert W. Wood is a tax lawyer representing clients worldwide from the offices at Wood LLP in San Francisco. He is the author of numerous tax books and writes ...


Bitcoin tax: the U.S. & Singapore go to extremes  Yahoo Finance

The U.S. IRS proposes electronic surveillance to weed out Bitcoin tax evasion whereas Singapore plans to exempt cryptocurrencies from value-added tax.


Westchester officials celebrate sales tax hike  The Journal News | LoHud.com

Consumers pay more but governments and school districts are getting an influx of cash — what will they do with it?


Hillsborough wrestles with how to spend money from its new transportation tax  Tampa Bay Times

Commissioner Les Miller wants the sales tax to be spent exactly how voters intended, but administrator Mike Merrill has other ideas.





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