Last week, legislation was proposed in the Canadian province of Alberta that could soon change its corporate income tax rate and personal income tax starting on July 1 and October 1, respectively. Joe Ceci, the Minister of Finance, introduced the Act to Restore Fairness to Public Revenue in an effort to implement a progressive tax structure. Show More Summary
Tax season isn't over just yet! Friday, May 15, 2015, marks the filing deadline for many tax exempt organizations.
Taxes are everywhere, and that includes the Star Wars universe. In Episode I: The Phantom Menace, the opening crawl brings up taxes almost immediately: Turmoil has engulfed the Galactic Republic. The taxation of trade routes to outlying...Show More Summary
A South Florida man called in a bomb threat involving an IRS building last week. He now faces up to 10 years in federal prison.
It’s April 15. That means your taxes should be done, or extended, or ready to be filed today or extended. If […]
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Paying for hospital stays and other out of pocket medical expenses can be expensive. What can you deduct on your tax return? And what if those expenses aren't for you but for someone else like your parents? Here's what's deductible (and what's not).
Thinking of paying your taxes in Bitcoin? That might not be so far-fetched. While you can pay your taxes now in Bitcoin using a third-party processor, states like Utah and New Hampshire are considering making it an official payment option.
The National Tax Association gave this year’s Dan Holland Medal for outstanding contributions to the study and practice of public finance to MIT professor Jim Poterba. Jim, who is also president of the National Bureau of Economic Research, is a terrific economist and one of the nicest people you’ll ever meet. Show More Summary
If you spend big on luxuries while stiffing the IRS, is that willful tax evasion? The IRS might say so, but a recent court case says you can spend away.
Maybe the pundits shouldn't be so shocked by Republican Larry Hogan's win in the Maryland governor's race. Blue state voters have done it before, when tax hikes got out of hand.
Congress is in recess through the mid-term elections. The Daily Deduction will post each Monday until then. Counting devices before they hatch? Should the GOP take the Senate in November, medical device makers may see a renewed push to repeal the 2.3 percent excise tax on their products. Show More Summary
Alexander's Horrible, Terrible Very Bad Day is the Flip Side of Ferris Bueller's Day Off. Lois Lerner Just had a Bad Day Too, Not Unlike Many Taxpayers. Maybe She'll Move to Australia?
In June 2014, the Internal Revenue Service released a “Taxpayer Bill of Rights” at the recommendation of the Taxpayer Advocate Service. The publication attempts to clearly outline the fundamental rights a taxpayer has when filing their...Show More Summary
Most taxpayers know that deductions are available for businesses which suffer a loss as a result of a theft or casualty (like a natural disaster). But did you know that individual taxpayers can claim a tax deduction for those losses, too?
Tax Excuses Can Get Stale, But a French Minister Used "Administrative Phobia" Why He Failed to Pay Taxes for Years.
When images of the police in Ferguson, Missouri, wearing camouflage, wielding assault weapons and navigating military-style vehicles, many Americans were shocked by the sheer amount of military equipment on the streets. Where did it come from? And how could a relatively small suburb in middle America afford it?
On July 17, 2014, officers from the NYPD attempted to arrest 43 year old Eric Garner for allegedly selling untaxed cigarettes. Garner was no stranger to the charges, as he had heard it all before. The day, however, didn't end as it had before. Moments after officers attempt to cuff Garner, and he refused, he was dead.
“Holy Taxation, Batman!” Yes, even Batman was aware of his civic duty. Robin uttered those words in Batman (Season 2, episode 4, The Cat and the Fiddle) in response to Batman’s request for money for the parking meter. But that wasn’t Batman’s most famous brush with taxation. Believe it or not, one of Gotham City’s [...]
Lost IRS Emails? Turns Out Lois Lerner's Texts Might Show Even More. When Lerner Asked If Texts Were Saved, They Said No. "Perfect," said Lerner.