Tuesday , August 15 2017
Home / Tax News

Tax News

Do IRS Budget Cuts Mean Fewer Audits?

Do IRS Budget Cuts Mean Fewer Audits?

The IRS has learned to live lean since 2010, and no one seems to be complaining. At least, no one who makes less than $1 million dollars. Budget slashes, enacted throughout the last five years¹, have reduced the IRS to a shell of its former self, and the powers-that-be must …

Read More »

Princess of Spain Facing Tax Fraud Allegations

palace-real-madrid-royal-family

Princess of Spain, Cristina de Borbon may face up to 4 years in prison if convicted of tax fraud. Both the princess and her husband, Olympic gold medalist, Inaki Urdangarin will soon stand trial for tax fraud and money laundering. Urdangarin, who also faces charges of embezzling, breach of legal …

Read More »

Legislators Begin Massive Crackdown on Tax Loopholes

Barclays Bank

Hedge funds can earn billions—sometimes, they can even earn billions for an individual, as is the case for hedge fund manager, John Paulson. But Senator Carl Levin made it clear at a Senate committee hearing last week that there is one entity that is not profiting from hedge funds. That …

Read More »

Colorado Voters May Change Flat Income Tax

Colorado Tax Policy

Colorado residents currently pay an income tax of 4.63 percent. In contrast to the progressive income tax systems of the federal government and many states, Colorado has a “flat” income tax system, which means higher earners do not pay proportionately higher income tax rates. Voters of the state, however, may …

Read More »

As Boehner And Obama Exchange Ultra-Partisan Proposals, Fiscal Cliff Would Push Joblessness Above 10%

Great article by Agustino Fontevecchia on Forbes, evaluating the large scale joblessness expected from the fiscal cliff. He goes on to explain that President Obama and Boehner continue to exchange extremely partisan ideas, rather than actually fixing the problem itself. Read more here: http://www.forbes.com/sites/afontevecchia/2012/12/03/as-boehner-and-obama-exchange-ultra-partisan-proposals-fiscal-cliff-would-push-joblessness-above-10/

Read More »

Democrats and the Tax Cliff

Several Senators suggest they may not want to take the November leap.   President Obama has staked his re-election on the promise to raise taxes on anyone making more than $200,000 a year, but it’s going to be fascinating to see if he can hold other Democrats through Election Day. …

Read More »