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'Crocodile Dundee' to return to US amid tax fray (AP)

Yahoo Tax - 2 hours 30 min ago

AP - Actor Paul Hogan, star of the "Crocodile Dundee" movie trilogy, has been cleared to return home to the United States after he was barred last month from leaving Australia because of a disputed tax bill, his lawyer said Friday.


Categories: Tax news

Stranded actor Paul Hogan in Australia tax deal (Reuters)

Yahoo Tax - 6 hours 28 min ago
Reuters - Actor Paul Hogan, star of the "Crocodile Dundee" movies, has struck a deal with Australia's tax office which will allow him to return home to his family in Los Angeles, his lawyer said on Friday.
Categories: Tax news

More Dems buck plan to let taxes increase for rich (AP)

Yahoo Tax - Thu, 2010-09-02 16:37

AP - Congress seems increasingly reluctant to let taxes go up, even on wealthier Americans.


Categories: Tax news

So many tax rule changes, so little IRS guidance - Chicago Tribune

Google IRS Federal Income Tax - Thu, 2010-09-02 13:19

So many tax rule changes, so little IRS guidance
Chicago Tribune
Retiring workers often make mistakes when rolling over 401(k)s into IRAs, and few think about managing their retirement income tax bracket to minimize ...

Categories: Tax news

5 Tax Moves to Make Now (U.S. News & World Report)

Yahoo Tax - Thu, 2010-09-02 11:16
U.S. News & World Report - It may seem a bit strange to be talking about income taxes in September. There are, however, good reasons to think about taxes well before April 15. For starters, there are some big changes in the tax code that go into effect in 2011. Depending on your income tax bracket and investments, some simple planning now could save you a bundle later.
Categories: Tax news

Instant View: Pending home sales rise in July (Reuters)

Yahoo Tax - Thu, 2010-09-02 07:34
Reuters - Pending sales of previously owned U.S. homes rose unexpectedly in July, an industry group said on Thursday, suggesting a tax credit-related housing market decline was close to bottoming.
Categories: Tax news

Pending home sales rise 5.2 percent in July (Reuters)

Yahoo Tax - Thu, 2010-09-02 07:12

Reuters - Pending sales of previously owned U.S. homes rose unexpectedly in July, an industry group said on Thursday, suggesting a tax credit-related housing market decline was close to bottoming.


Categories: Tax news

Delco dentist indicted on tax-fraud charges - Delco News Network

Google IRS Federal Income Tax - Thu, 2010-09-02 05:38

Delco dentist indicted on tax-fraud charges
Delco News Network
Kaufman also submitted tax forms in 2008 falsely claiming a total of $7 million in federal income tax withheld and requesting the IRS send him an $865041 ...

Categories: Tax news

No bank account? Get your tax refund on plastic (AP)

Yahoo Tax - Thu, 2010-09-02 05:18
AP - A new Treasury Department program to give people without bank accounts faster access to their tax refunds will help some avoid costly short-term loans. But careless consumers could end up racking up fees and padding bank profits.
Categories: Tax news

2 more on ballot failed to pay tax - Boston Globe

Google IRS Federal Income Tax - Wed, 2010-09-01 23:39

Boston Globe
2 more on ballot failed to pay tax
Boston Globe
His aides asserted that the campaign is exempt from federal taxes on the income, an assertion that does not appear to jibe with IRS code. Federal taxes ...

and more »
Categories: Tax news

Obama's Too-Small Steps on the Economy (The Daily Beast)

Yahoo Tax - Wed, 2010-09-01 21:05
The Daily Beast - News that the administration is weighing tax cuts is welcome, but the president needs to take concrete action on the economy now—and stop blaming Bush—to win voters, says Douglas E. Schoen.
Categories: Tax news

How Much Do You Know About the Expiring Tax Cuts? Take this Short Quiz and Find Out

Tax Foundation - Wed, 2010-09-01 21:00

The Tax Foundation has put up a 10-question quiz for users to test their knowledge of the Bush tax cuts and what President Obama is proposing to do about them.

Here's a sample:

The federal estate tax rate for 2010 is currently zero. If the Bush tax cuts were to expire, what would the rate be in 2011?
A. 35%
B. 39.6%
C. 45%
D. 55%

Take the quiz to find out the answer.

When submitted, an explanation for each answer (with documentation) is provided to the quiz-taker.

Categories: Tax news

Economists: Extending Tax Cuts Will Aid Recovery - CBS News

Google IRS Federal Income Tax - Wed, 2010-09-01 16:18

Kansas City Star
Economists: Extending Tax Cuts Will Aid Recovery
CBS News
David Zervos of Jeffries and Company says, "[Letting the Bush tax cuts expire for the top income tax rates] would actually have a pretty detrimental impact. ...
Democrats can't agree over killing or saving the Bush-era tax cutsThe Hill (blog)
President Obama's economic strategy: What it means for youThe Upshot (blog)

all 349 news articles »
Categories: Tax news

Ohio couple guilty in $600000 tax return scheme - BusinessWeek

Google IRS Federal Income Tax - Wed, 2010-09-01 15:28

Columbus Dispatch
Ohio couple guilty in $600000 tax return scheme
BusinessWeek
An Ohio couple has pleaded guilty in a $600000 fraud that used stolen identities to file more than 100 false federal income tax returns. ...
Two guilty in income-tax refund scamColumbus Dispatch

all 11 news articles »
Categories: Tax news

Hovnanian trims loss for fiscal Q3 (AP)

Yahoo Tax - Wed, 2010-09-01 15:03
AP - Hovnanian Enterprises Inc. said Wednesday its fiscal third-quarter loss narrowed versus the prior-year period as the homebuilder booked fewer land-related write-downs. But signed contracts on new homes tumbled 37 percent as demand slowed in the absence of homebuyer tax credits.
Categories: Tax news

Parents Using Retirement Savings for College Costs - U.S. News & World Report (blog)

Google IRS Federal Income Tax - Wed, 2010-09-01 12:55

msnbc.com
Parents Using Retirement Savings for College Costs
U.S. News & World Report (blog)
However, IRA owners still have to pay income tax on withdrawals. Roth IRA owners younger than age 59 ½ must pay tax on the portion of the withdrawal that ...
Taking Withdrawals from 401(k)? Consider Alternatives FirstCBS MoneyWatch.com (blog)

all 7 news articles »
Categories: Tax news

WH economist calls for more spending, less taxes (AP)

Yahoo Tax - Wed, 2010-09-01 10:52
AP - Departing White House economist Christina Romer says the government has the tools for bringing down unemployment, but policymakers need to find the will and wisdom to use them.
Categories: Tax news

IRS Lost $90M on Faulty Foreign Income Tax Claims - WebCPA

Google IRS Federal Income Tax - Wed, 2010-09-01 10:40

IRS Lost $90M on Faulty Foreign Income Tax Claims
WebCPA
Improvements must be made to reduce erroneously claimed foreign earned income tax exclusions.” TIGTA made seven recommendations to the IRS in the report, ...
Obama Tax Commission Report: Baby Step Toward IRS Tax PreparationAmericans for Tax Reform
E-file system to flag errors in claims of foreign earned incomeNextgov

all 6 news articles »
Categories: Tax news

Spain halves deficit with painful austerity cuts (AP)

Yahoo Tax - Wed, 2010-09-01 10:04
AP - Spain's deficit is down sharply thanks to an unpopular cocktail of tax hikes and austerity cuts — good news for a government fighting to ward off fears it might need a bailout like the one that saved Greece from bankruptcy.
Categories: Tax news

Construction activity declines 1 percent in July (AP)

Yahoo Tax - Wed, 2010-09-01 07:37

AP - Construction spending tumbled in July to the lowest level in a decade, as the housing market struggles in the weak economy and without a popular home-buying tax credit.


Categories: Tax news
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