Tax News

Wall Street wants tax holiday to be a QE4

A tax holiday could juice stock prices just as the Federal Reserve is unwinding its quantitative easing program of massive bond purchases...
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Governor’s Office Suspends 40 Tax Preparers for Not Filing Own Returns

The preparers were accused by New York State of not paying state income taxes in 2011 and 2012, though some say they never received notification that ...
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Treasury Auctions Set for the Week Week of July 28

The following tax-exempt fixed-income issues are scheduled for pricing this week....
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Paul Ryan’s Proposal Hints at Change in Tone on Poverty

His new plan would expand the Earned Income Tax Credit to a larger group of people, essentially making a low-wage job more attractive....
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Treasury Auctions Set for the Week of July 21

The following tax-exempt, fixed-income issues are scheduled for pricing this week....
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Wealthier New Yorkers Aren’t Fleeing the City for Tax Havens, a Study Says

The Independent Budget Office found that the share of higher-income households that moved from the city in 2012 equaled that of lower-income household...
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Kansas’ Ruinous Tax Cuts

Gov. Sam Brownback’s ill-advised tax policy has contributed to the state’s plummeting revenues....
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The world's worst tax return?

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Illinois: Governor Largely Approves Budget

Gov. Pat Quinn on Monday largely approved a 2015 state budget that he had criticized as incomplete for not extending a temporary income tax increase....
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Charlatans, Cranks and Kansas

The state’s economy is in terrible shape after huge income-tax cuts — another case of big money selling bad ideas....
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Yes, if You Cut Taxes, You Get Less Tax Revenue

In 2012, Kansas passed a big and unusual tax cut in the name of small business. But now the state is grappling with a shortage in tax revenue that is ...
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One year later: Same-sex marriage ruling's impact

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Johnnie M. Walters, I.R.S. Chief Who Resisted Nixon’s Pressure, Dies at 94

Mr. Walters was a commissioner of the Internal Revenue Service under President Richard M. Nixon who left office after refusing to prosecute people on ...
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One year later: Same-sex marriage in the U.S.

A state-by-state look at the different same-sex marriage laws and how they impact couples from a financial perspective....
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Do the top 1% pay enough taxes? Too much?

Majority says 'No' in CNNMoney's American Dream poll, while 25% say they pay the right amount. Another 19% say they pay too much....
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IRS: 4.7 million made at least $200,000

More than 99% of high-income returns in 2011 had some tax liability, and the majority owed between 15% and 30% of their income in federal income taxes...
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Federal workers owe IRS $3.3 billion

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IRS said to make $13B in improper refunds

The U.S. government doled out more than $13 billion last year in improper payments of a tax credit meant to help the working poor, according to a gove...
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Should you pay a higher gas tax?

A federal trust fund for highway repairs, funded mostly by a gas tax, faces a shortfall. If Congress doesn't act soon, Washington will need to slow pa...
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Who pays the most income taxes?

Well whaddaya know ... the average American pays more in tax and social security than Canadians, Australians, the Japanese and the British....
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