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07/23/2013
Income tax complexity leads to this...
The tax break that corporate America wants kept secret - The Term Sheet: Fortune's deals... Big companies have cut confidential deals with the IRS to help lower their tax bills, and critics want the agency to disclose the details.
07/14/2013
Sad isn't it?
U.S. Tax System Ranks 94th Out Of 100---Right Below Zimbabwe Well, is the U.S. tax system competitive? Many global companies say it isn't. In his recent Senate testimony, Apple CEO Tim Cook distanced Apple from tax gimmicks, but the Senate Permanent Investigation Subcommittee report on Apple paints a grim picture. Many companies are even more aggressiv...
Many IRS Seizures Are Illegal, Government Report Concludes The IRS Tapes: Who'll Buy My Memories? (Photo credit: Wikipedia) For the beleaguered IRS, the hits just keep on coming. After the targeting scandal, a key IRS official claimed the Fifth Amendment. House Committee Votes IRS Official Must Testify Despite Fifth Amendtment. Then there were all the…
06/20/2013
IRS draws new criticism over $70M employee bonuses WASHINGTON (AP) — Already reeling from a pair of scandals, the Internal Revenue Service is drawing new criticism over plans to hand out millions of dollars in employee bonuses.
06/18/2013
With over 23 years experience in the payments industry, I would strongly suggest that The FairTax become experts on Payments given the move from taxing income to taxing spending.
GAO: IRS needs to keep an eye on virtual currencies - The Hill's On The Money The Internal Revenue Service (IRS) could do more to inform taxpayers dabbling in virtual currencies that their activities could be taxable, according to a new government report. The Government Accountability Office (GAO) said Monday that while the world of virtual currencies like bitcoins was rapidl...
AFFT Calls on Congress to Eliminate IRS Targeting by Enacting the FairTax(R) HOUSTON, May 16, 2013 (GLOBE NEWSWIRE) -- Americans For Fair Taxation® (AFFT), outraged by the Internal Revenue Service's (IRS) continued political abuse and intimidation of citizens and organizations, is calling on Congress to immediately enact HR 25 / S 122, the FairTax® Act of 2013 and phase out…
05/14/2013
Will The House Be Convinced That An Online Sales Tax Bill Hurts Small Businesses? The Marketplace Fairness Act - a bill that forces online businesses to collect sales tax from all 50 states - is fairly controversial. Some fear …
04/17/2013
Surprise: Everyone Applauds Small Business Tax Reform The hard part is figuring out how to pay for the tax breaks—and how to keep small business from getting lost in a larger tax bill
Under the influence of so many competing special interest lobbyists, the political class benefits from a corrupt wasteful tax system. Do you blame the politicians? Or do you blame the organizations of people vying to game the system?
04/12/2013
2013 - Tax Refund Fraud: A Growing Trend | PYMNTS.com With the April 15 deadline right around the corner, now is as good a time as ever to make sure you’re protecting yourself against a growing trend: tax refund fraud.
President proposes many tax changes in 2014 budget President Barack Obama's proposed FY 2014 budget contains a long list of proposed tax changes, aimed at achieving $580 billion in new revenue.
04/05/2013
You’ll work 5 extra days for Uncle Sam this year Why Americans will need to work more before they’ve earned enough to pay their taxes.