Tax News

European Union officials announced on Tuesday plans to curb corporate tax avoidance strategies among large companies operating within European borders. Up to $80 billion in taxes went unpaid last year, according to the European Commission, and leadership has decided it is time for corporations like MacDonald’s and Amazon to start paying …

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 …

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 …

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 …

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 …

Bill Perston Summer of this year, The New York Times published an excellent short article by David Leonhardt concerning the American corporate tax system and the potential for its reform in the near future. One of the key points in the piece is the remarkable variation in the corporate tax …

Over this past week, President Barack Obama sent his 2014 budget package to Congress. The package entails a $3.8 trillion blueprint for spending that Obama Camp says is designed to create the “ultimate bargain.” The goal of the spending package is to reduce runaway spending deficits by raising taxes on …

If you have something that you’ve worked your entire life to obtain and maintain, don’t be all that surprised when there are plenty of hungry wolves who desire to take it all away from you. The greatest mistake that a person who has accumulated wealth can make is in not …

Taxes: the dreaded paperwork mountain that has many of us baffled, scratching our heads and revving up the procrastination engine to avoid. Yep, it’s nearly that time of the year again, and as April nears ever so close, and at a rapid pace, most of us will be getting the …

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/

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. …