SAN FRANCISCO (Reuters) - California Governor Jerry Brown was elected in 2010 on a promise to fix the state's chronic fiscal crisis. His weekend announcement of a much bigger-than-expected shortfall in the state budget signals how far he still has to go.
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Brown pushes tax hike as California's money woes deepen
Posted by cagan 13 days ago (http://www.reuters.com)
The iEconomy: Apple’s Tax Strategy Aims at Low-Tax States and Nations
Posted by kagan 28 days ago (http://www.nytimes.com)
Apple serves as a window on how technology giants have taken advantage of tax codes written for an industrial age and ill suited to today’s digital economy.
Hungary mulls tax on phone calls, Internet use: website
Posted by murat 35 days ago (http://news.yahoo.com)
BUDAPEST (Reuters) - Hungary is considering a new tax on phone calls and Internet usage which could yield up to 50 billion forints ($221.38 million) a year and would help plug budget holes, website Origo.hu reported on Friday, citing economy ministry sources. Hungary, which is seeking a funding deal with the European Union and the International Monetary Fund, needs to prove to the EU that it can
Antipoverty Tax Program Offers Relief, Though Temporary
Posted by cagan 39 days ago (http://www.nytimes.com)
The earned income tax credit returns billions of dollars to low-income working Americans with a one-time refund that can amount to 40 percent of annual income for some families.
Obama likely paid higher tax rate than Romney in 2011
Posted by cagan 43 days ago (http://www.reuters.com)
WASHINGTON (Reuters) - President Barack Obama released tax forms on Friday that reveal he will probably pay a higher tax rate on much lower income than likely Republican opponent Mitt Romney in 2011, adding fuel to a Democratic election-year effort to raise taxes on the rich.
Spain Targets Tax Fraud to Counter a Recession
Posted by kagan 43 days ago (http://www.nytimes.com)
Spain approved several measures to crack down on tax fraud, seeking to reassure investors that it can replenish its coffers amid a $35 billion squeeze in the budget.
India’s Tax Plan Troubles Foreign Investors
Posted by kagan 50 days ago (http://www.nytimes.com)
Some international investors are delaying investments in India, a sign of concern over a raft of new taxes proposed by the government.
DealBook: Crackdown on Tax Havens Opens Doors for Bankers
Posted by kagan 51 days ago (http://dealbook.nytimes.com)
While wealth managers have scrambled to keep up with new regulations from a global crackdown on bank secrecy, they also stand to benefit.
IRS software glitch delays some tax refunds
Posted by murat 85 days ago (http://news.yahoo.com)
WASHINGTON (Reuters) - The U.S. Internal Revenue Service's new software system for handling electronic tax returns has experienced problems during the tax filing season, angering some taxpayers whose refunds have been delayed. In an issue that could draw congressional scrutiny, the IRS said it was addressing the software glitches and that delays in sending refunds to taxpayers would be minimal. T
Obama urges corporate tax cut, closing loopholes
Posted by cagan 94 days ago (http://www.reuters.com)
WASHINGTON (Reuters) - President Barack Obama made an opening offer in what could be a long negotiation with corporate America on Wednesday, putting forward his first detailed plan to cut the corporate tax rate.
U.S. proposes to reduce top corporate tax rate: report
Posted by cagan 95 days ago (http://www.reuters.com)
(Reuters) - The Obama administration will propose slashing the top income tax rate for corporations to 28 percent from the current 35 percent, as part of a corporate tax reform plan that is set to be announced on Wednesday, the Wall Street Journal said.
Congress ends bitter tax battle with bill passage
Posted by cagan 99 days ago (http://www.reuters.com)
WASHINGTON (Reuters) - Congress ended a three-month battle on Friday by passing legislation to extend a tax cut for 160 million workers, a boon for both the economy and Democratic President Barack Obama in this election year.
Payroll tax cut heads for congressional approval
Posted by cagan 100 days ago (http://www.reuters.com)
WASHINGTON (Reuters) - A deal to renew a payroll tax cut for 160 million U.S. workers through 2012 headed on Thursday toward congressional approval as Democratic and Republican leaders rallied support for the bipartisan agreement.
Lawmakers get tentative deal on payroll tax, jobless benefits
Posted by cagan 102 days ago (http://www.reuters.com)
WASHINGTON (Reuters) - U.S. lawmakers reached a tentative deal on Tuesday on legislation aimed at boosting the economy by extending a payroll tax cut for 160 million workers through this year and continuing long-term jobless benefits, congressional aides said.
Obama budget sets up election-year tax fight
Posted by cagan 103 days ago (http://www.reuters.com)
WASHINGTON (Reuters) - President Barack Obama called on Monday for new spending to boost growth and higher taxes on the rich, laying out an election-year vision for America in a budget that drew heavy fire from Republicans for failing to curb huge deficits.
Obama budget declares election-year tax battle
Posted by cagan 106 days ago (http://www.reuters.com)
WASHINGTON (Reuters) - President Barack Obama will seek billions of dollars for jobs and infrastructure in his 2013 budget, an appeal to voters that draws election-year battle lines over taxes and spending as Republicans slammed him for "debt, doubt and decline."
The success of The Only Way Is Essex could now be in jeopardy after producers launched a controversial bid to ‘claw back’ some of the cash being made by its stars.
Facebook's high tax rate likely to drop
Posted by murat 113 days ago (http://news.yahoo.com)
(Reuters) - Facebook, the social network giant on the verge of a huge initial public stock offering, pays an unusually high tax rate, but that is likely to change soon, analysts said. At 41 percent on an effective basis, Facebook's tax rate is well above rates paid by larger, more mature high-tech groups, and above the top U.S. corporate income tax rate of 35 percent. But the exercise by investor
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