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Taxes



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8Vote!

How to fund the MTA

Alex Pareene has a wonderful rant about New York's MTA, which picks up on this astonishing line from the Daily News : In addition to the 2010 budget, the MTA released a four-year fiscal plan. It envisions 7.5% fare and toll hikes in 2011 and 2013 as the agency tries to establish a pattern of regular inflation-based increases. ‘Cos obviously consumer prices generally are going to rise by 15.5%...

5Vote!

Uncle Sam has a $4.8 trillion dollar interest payment!

Filed under: Economic data , Politics , Federal Reserve , Recession Here's a shocker! Over the next decade the U.S. government is expected to rack up $9 trillion in debt. More than half that amount, $4.8 trillion, will be in interest payments. To further emphasize the depth of the problem, in 2015 interest due will be $533 billion, equal to 1/3 of the federal income taxes! Right now, the Treasury...

5Vote!

Your Gold ETF Could Bring a Hefty Tax Bill

In the eyes of the IRS, not all gold ETFs are created, or taxed, equally. Here's what you need to know before you invest in one.

6Vote!

Western Asset Intermediate Muni Fund Inc. as of September 30, 2009

NEW YORK--(BUSINESS WIRE)--Western Asset Intermediate Muni Fund Inc. (NYSE Alternext: SBI) as of September 30, 2009. Investment Objective: The Fund seeks as high a level of current income exempt from Federal income tax as is consistent with prudent investing. Portfolio Composition*: Asset Allocation Municipals 100.0% Top Ten Municipal Sectors Pre refunded / Escrowed to Maturity 18.3% Power 16.9% Health...

4Vote!

California says it faces $21 billion budget gap

SAN FRANCISCO (MarketWatch) -- The state of California on Wednesday estimated it will face a budget shortfall of $20.7 billion between now and the time the legislature enacts its 2010-2011 budget plan. The gap consists of a $6.3 billion projected deficit for the 2009-2010 fiscal year and a $14.4 billion gap in 2010-2011, according to a report from the California legislative analyst's office. California,...

6Vote!

IRS settles with 14,700 over unreported foreign accounts

More than 14,700 U.S. taxpayers came forward to disclose billions in offshore bank accounts in 70 countries under a voluntary Internal Revenue Service program allowing most to avoid criminal prosecution as long as they pay what they owe, IRS officials said Tuesday.

4Vote!

DOJ: 14,700 taxpayers report secret Swiss accounts

WASHINGTON (MarketWatch) - Over 14,700 U.S. taxpayers have voluntarily come forward to report having secret Swiss bank accounts as part of an Internal Revenue Services program, according to the Justice Department on Tuesday. The result comes after the IRS, the Swiss government and Swiss bank UBS AG announced a settlement in August where U.S. tax authorities gained access to 4,450 accounts of Americans...

4Vote!

Justice Department & IRS Announce Results of UBS Settlement & Unprecedented Response in Voluntary Tax Disclosure Program

WASHINGTON, Nov. 17 /PRNewswire-USNewswire/ -- Deputy Attorney General David W. Ogden released the following statement regarding the announcement today by the Department of Justice and the Internal Revenue Service (IRS) regarding the results arising from previous settlements of civil and criminal cases against Swiss banking giant UBS AG. The Justice Department and IRS announced that over 14,700 taxpayers...

5Vote!

Does The Government Really Know The Economic Numbers?

A couple of articles that highlight disparities in the official government statistics on some fairly important economic gauges caught my eye today. Let me offer you a couple of excerpts as well a a thought or two. First, Ed Harrison’s always informative Credit Writedowns did a nice job highlighting some of John Mauldin’s recent thoughts. Mauldin points to a disconnect between the reported...

5Vote!

15 million owe IRS over tax credit, report says

A $400 tax credit provided by the economic stimulus plan may leave more than 15.4 million Americans owing money to the IRS because of under-withholding from their paychecks, an inspector general report said. The IRS said the number will be far lower. The Treasury inspector general for tax administration said many employers advanced more than the $400-per-individual tax credit. Workers will have to...

8Vote!

Fresh Start Tax: Fresh Start Tax Points to Tax Recovery Option for Scott Rothstein Investment Fraud Victims

FORT LAUDERDALE, FL (MARKET WIRE) Victims of investment fraud have a tax recovery option under IRC Section 165(c)(2) which is an often overlooked provision from the IRS. The recent multi-million dollar fraud scheme which resulted in the arrest of Fort Lauderdale attorney, Scott Rothstein, is an example of victimized investors who may have a potential theft loss deduction under IRC Section 165(c)(2)....

5Vote!

Lincoln Park Bancorp Announces Earnings For The September 30, 2009 Quarter

LINCOLN PARK, N.J., Nov. 13 /PRNewswire-FirstCall/ -- Lincoln Park Bancorp (the "Company"), the holding company of Lincoln Park Savings Bank, announced net income of $131,000, or $.07 per share, for the quarter ended September 30, 2009, as compared to $120,000 or $.07 per share, for the quarter ended September 30, 2008. The increase in net income of $11,000 was primarily due to increases...

8Vote!

Pay Back the Homebuyer Tax Credit?

Did you know that you have to pay back the homebuyer tax credit if you claim it and then sell your house (or otherwise stop using it as your principal residence) within the next three years? I didn’t, but apparently that’s the case. Here’s the scoop straight from the IRS: Q: When must I pay back [...] Follow me on Twitter !

4Vote!

Manhattan U.S. Attorney Charges Two Former Computer Programmers for Bernard L. Madoff Investment Securities, LLC With Conspiracy and Falsifying Books and Records

NEW YORK, Nov. 13 /PRNewswire-USNewswire/ -- Preet Bharara, the U.S. Attorney for the Southern District of New York, Joseph M. Demarest, Jr., the Assistant Director-in-Charge of the New York Field Office of the FBI, Alan D. Lebowitz, the Deputy Assistant Secretary of the United States Department of Labor, Employee Benefits Security Administration (DOL-EBSA), and Patricia J. Haynes, the Special Agent-in-Charge...

4Vote!

Genworth Financial Discloses Benefit From Tax Legislative Changes

RICHMOND, Va., Nov. 12 /PRNewswire-FirstCall/ -- Genworth Financial, Inc. (NYSE: GNW) today disclosed that, based on recently enacted legislation, it expects to recover approximately $85 million in Federal income tax refunds, considering results through the third quarter of 2009. The exact amount of the recovery will be determined by results for the remainder of this year, with any statutory tax benefit...

The 3 latest articles published by users on Taxes :

1Vote!

Free Tax Software Reviews

Free Income Preparation Tax Software In The Internet An income tax is a financial charge imposed on the financial income of entities like persons and corporations. In short, any legal entity who has a value can be taxed which somehow make...

5Vote!

Canada Tax Tricks: A List Of Great Canadian Income Tax Software Programs

Do You Have Unfiled Income Tax Questions Canada? | A List of Canada Tax Tricks Canada has a wealth of income tax preparation software that can do more than just let you calculate your income tax and file in your return. Most tax software program...

2Vote!

I.R.S. Tax Debt Settlement With Help From An Income Tax Lawyer

A word of encouragement before you read this article . . . The following online tax savings resources are not only superb training tools but they have been instrumental in saving people tens of thousands of dollars, for those who have taken the time t...