Taxes
Tax Delinquency:100,000 Federal Employees Owe $962 Million in Back Taxes
Working for Uncle Sam comes with some great perks, like job stability, posh benefits packages, and in many cases, average salaries that are higher than what the same job pays in the private sector.
That’s why Republican Rep. Jason Chaffetz, R-Utah, is irked that nearly 100,000 civilian federal employees owe the IRS $962 million in back […]
New tax deductions, credits could save you some pain at tax time
More forms to file. New and expanded credits and deductions.
When taxpayers sit down to file their 2009 returns, they will find plenty new - some the result of adjusting for inflation, and others changes passed by Congress last year to try to bring the country out of recession.
“Depending on their individual situation, there could be […]
Democrat Congressman introduces 50% tax on bonuses
Rep. Peter Welch (D-Vt.) will introduce legislation that would impose a 50% tax on excessive bonuses at firms that received bailout funds.
The “Wall Street Bonus Tax Act” would apply only to bonuses over $50,000, and would use the tax revenue to support loans to small businesses.
Welch unveiled the proposal at a press conference in Burlington […]
Shocking:Federal Employees Owe Uncle Sam $3 Billion in Unpaid Taxes
At a time when the White House is projecting the largest deficit in the nation’s history, Uncle Sam is trying to recover billions of dollars in unpaid taxes from its own employees.
Federal workers owe more than $3 billion in income taxes they failed to pay in 2008. According to Internal Revenue Service documents, 276,300 federal […]
Shocking News of IRS Audit:$10 an Hour with 2 Kids? IRS Pounces (IRS targets the poor)
Rachel Porcaro knows she’s hardly rich. When you’re a single mom making 10 bucks an hour, you don’t need government experts to tell you how broke you are.
But that’s what happened. The government not only told Porcaro she was poor. They said she was too poor to make it in Seattle.
It all started a year […]
Millions may have to repay part of Obama tax credit
For more than 15.4 million people, the Making Work Pay tax credit enacted as part of the $787-billion economic stimulus package could turn out to be a Making You Pay Back tax credit.
That’s the finding of a government watchdog report out today about the credit, which provides as much as $400 for individuals and as […]
The $6,500 for existing homeowners is NOT Retroactive (Taxpayers must close on the replacement home between Nov. 7, 2009 and April 30, 2010)
More American homebuyers will get tax relief thanks to changes made to the First-Time Homebuyer Credit. H&R Block (NYSE: HRB) advises the popular credit is now more accessible to existing homeowners and first-time homebuyers in three ways:
1. Through a tax credit worth up […]
Hillary Clinton: ‘We tax everything that moves and doesn’t move’
Al Qaeda leadership in Pakistan: Hillary Clinton
* US taxes everything, and ‘that’s not what we see in Pakistan’
* Pakistan must start planning for challenges posed by population growth
* US secretary of state meets COAS
LAHORE: The leadership of Al Qaeda is in Pakistan, US Secretary of State Hillary Clinton said on Thursday.
“I find […]
Treasury Secretary, Timothy Geithner to Imprison Thousands on Tax Charges (So when does he send himself to jail??)
The Internal Revenue Service will be more aggressive in collecting back taxes and prosecuting Americans accused of tax evasion, according to the new Treasury Secretary, Timothy Geithner.
The Internal Revenue Service, one of the Treasury Department’s agencies, claims that billions of dollars in income tax assessments were not paid by Americans. If not collected, annual unpaid […]
‘RICH’ NEW YORKERS FLEEING AT ALARMING RATE
New Yorkers are fleeing the state and city in alarming numbers — and costing a fortune in lost tax dollars, a new study shows.
More than 1.5 million state residents left for other parts of the United States from 2000 to 2008, according to the report from the Empire Center for New York State Policy. It […]
Tennessee Sales Tax Rate Is Highest In U.S.
CHATTANOOGA, Tenn. — A study shows Tennessee’s average 9.4 cent tax on every $1 spent is the highest sales tax rate in America. Opponents of the sales tax say it’s most unfair to those least able to pay but others favor the sales tax over a state income tax.
The author of the tax comparison study, […]
CNNMoney:47% of Americans will pay no federal income tax in 2009 (This should make Liberals happy - 71 million new voters)
Most people think they pay too much to Uncle Sam, but for some people it simply is not true.
In 2009, roughly 47% of households, or 71 million, will not owe any federal income tax, according to estimates by the nonpartisan Tax Policy Center.
Some in that group will even get additional money from the government because […]
Even Animals Are Not Exempted From Liberal Taxes: Massachusetts Raises Taxes On Dogs
State Republicans are howling mad over yet another tax hike being slipped through the Legislature that would slap an annual $3 state surcharge on municipal licensing fees canine owners pay for their pet pooches.
Annual license fees range from $6 a year in Boston for neutered or spayed canines (and $17 for unfixed dogs) to a […]
Exclusive: Obama Admin: Cap And Trade Could Cost Families $1,761 A Year (Equivalent to hiking personal income taxes by about 15 percent)
The Obama administration has privately concluded that a cap and trade law would cost American taxpayers up to $200 billion a year, the equivalent of hiking personal income taxes by about 15 percent.
A previously unreleased analysis prepared by the U.S. Department of Treasury says the total in new taxes would be between $100 billion to […]
NYPost:Charles Rangel, Chairman of tax-writing committee failed to report millions (Rangel Hides Income and Assets)
Rep. Charles Rangel failed to report as much as $1.3 million in outside income — including up to $1 million for a Harlem building sale — on financial-disclosure forms he filed between 2002 and 2006, according to newly amended records. The documents also show the embattled chairman of the Ways and Means Committee — who […]
SURPRISE: TAX ON ‘CASH FOR CLUNKERS’ REBATE…
The Cash For Clunkers program is adding to the activity at treasurers’ offices all around South Dakota. First, people were asking for proof of ownership, so they could show they owned their vehicle for a full year, allowing them to cash it in. Now, they’ll be returning to register their new vehicle. And when they […]
Is a National Sales Tax in Our Future? (Thank you for voting obama)
A debate in Washington could lead to you paying more for everything.
The possible tradeoff? Better health care for all.
Policymakers are debating a value-added tax, or VAT. Put simply, it’s a national sales tax. The concept was dismissed as a nonstarter among policymakers in the past, but is now wiggling its way into political conversation, according […]
Tax Hikes: Coming Soon to a Theater Near You
Nancy Pelosi is watching California’s Prop 1A intently. In only a hundred days and change, President Barack Obama has committed $6.5 trillion to waste, fraud, and abuse. That’s $6,500,000,000,000.00, which is more than all the costs of World War I and World War II combined.
And you think it can’t get worse? Believe me, it can.
Things […]
Brave New World:Obama to propose over $1.3 Trillion in Carbon taxes
The estimated impact on disposable household income due to rising energy prices would then reach anywhere between $4,022 and $6,752. And because an energy tax is regressive, it will fall heaviest on poor and lower middle class folks who spend more of their income on energy.
President Obama himself described his plan in an interview with […]
The National Surface Transportation Infrastructure Financing Commission: “Raise gas tax, charge drivers by the mile”
According to AP, a special commission created by Congress, called “The National Surface Transportation Infrastructure Financing Commission” is endorsing two ideas suggested Transportation Secretary Ray LaHood to raise federal gasoline tax and charge drivers by the mile to pay for road projects.
Read original story here