Trend Results : Closing Tax Loopholes

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Robert Reich: Corporate Welfare is Ravaging American Taxpayers

This loophole must be closed. Corporate welfare is often camouflaged in taxes that seem neutral on their face but give windfalls to big entrenched corporations at the expense of average people and small businesses. Take a look at commercial property taxes in California, for example. Show More Summary

Why the absence of oversight on California's clean energy job fund?

When voters endorsed Proposition 39 in 2012, they did so with the best of intentions. The measure closed a corporate tax loophole that had deprived the general fund of desperately needed cash - an estimated $1 billion a year - and had encouraged multistate companies to locate jobs outside of California.

Bernie Sanders Calls For 65% Top Estate Tax Rate

Sanders' "responsible" estate tax has a $3.5 million exemption, top 65% rate, and closes "loopholes" like GRATs, dynasty trusts, even annual exclusion gifting.

News Roundup & Open Thread for June 22, 2015

Jerseynomics Close loopholes that let multinational companies shift profits to other countries: Lesniak says that's a way to add money to the budget without raising taxes. Smack up against the deadline: Today, legislative Dems expect to introduce their alternative budget, get it passed and on the Gov's desk by Thursday. Show More Summary

Closing A Tax Loophole For Amazon Accidentally Hits Self-Published Authors Hardest

3 months agoArts : Modern Art Notes

“All fair and square? Not really. For microbusinesses faced with the job of calculating myriad tax rates, the new regime is an administrative nightmare.”

Obama targets hedge funds in personal remarks on poverty, race

By Jeff Mason WASHINGTON (Reuters) - President Barack Obama addressed U.S. struggles with class and race in personal terms on Tuesday and renewed his call to close tax loopholes enjoyed by wealthy hedge fund managers as a way to reduce poverty among Americans. Show More Summary

NY Times: Investors Race To Do Like-Kind Exchanges Of Art As Obama Proposes Closing Section 1031 Loophole

New York Times, Tax Break Used by Investors in Flipping Art Faces Scrutiny: Introduced in the 1920s to ease the tax burden of farmers who wanted to swap property, it soon became a tool for real estate investors flipping, say, office buildings for shopping malls. Now, this little-known provision in...

Hockey warned of tax crackdown without OECD support

5 months agoTechnology / Apple : ZDNet Apple

As Australia's Treasurer Joe Hockey makes plans to broaden the country's GST to include downloaded content, he has been warned against unilaterally closing tax loopholes for multinational companies without the support of the OECD.

Tech Majors, Australia Lawmakers Clash on Tax

Apple and Google clashed with Australian lawmakers over tax avoidance ahead of a meeting of G-20 finance ministers in Washington that aims to build global cooperation to close corporate tax loopholes.

OH: Laketran GM Targets Sales Tax Loophole

March 24--Laketran General Manager Ray Jurkowski has developed a statewide proposal that he believes could help address the state's crumbling infrastructure and boost public and transit funding by closing a sales tax loophole on Internet...Show More Summary

Time to close loophole in Sunshine Law

By John Wright, Sometimes we like loopholes. Maybe you’ve used one to get out of a traffic ticket or to pay a little less tax.

President Obama Is 'Very Interested' in Raising Taxes Through 'Executive Action'

Sen. Bernie Sanders (D-VT) on Friday sent this letter to President Obama calling on him to use unilateral executive action to raise over $100 billion in taxes by closing six "loopholes": The Check the Box Loophole The Hewlett-Packard Loophole The REIT Loophole The Corporate Inversion Loophole The Carried Interest Loophole...

Standard Deduction: 8 Tax Loopholes the Obama Administration Could Close

The Treasury Department has the legal authority to close some tax loopholes that Congress did not intend.

Fleischer: 8 Tax Loopholes the Obama Administration Could Close

New York Times Deal Book: 8 Tax Loopholes the Obama Administration Could Close, by Victor Fleischer (San Diego): President Obama’s State of the Union address revealed a streak of assertiveness and defiance that had been sorely lacking in the tax policy world. The budget proposal for the 2016 fiscal year...

8 Tax Loopholes the Obama Administration Could Close

The Treasury Department has the legal authority to close some tax loopholes that Congress did not intend, writes Victor Fleischer in the Standard Deduction column.

Lawmakers Talk Tax Reform But Keep Pushing New Tax Subsidies

It is hard not to notice that while policymakers are talking tax reform they are walking tax deform. The more they vow to lower tax rates and eliminate targeted tax preferences (close loopholes in Congress-speak), the more bills they push to create new subsidies or juice up old ones. Show More Summary

Adjusting the President’s Capital Gains Proposal

President Obama’s new proposal to tax capital gains at death is a welcome change that would close a huge loophole, but it suffers from a serious flaw: For some assets, it would be a record-keeping nightmare. Fortunately, there is an easy fix. Show More Summary

The Basics of President Obama's State of the Union Tax Plan

Last night during the State of the Union address, the president spoke briefly about taxes: “Let’s close the loopholes that lead to inequality by allowing the top one percent to avoid paying taxes on their accumulated wealth. We can use that money to help more families pay for childcare and send their kids to college. Show More Summary

‘Class warfare’: GOP senator attacks Obama’s plan to close tax loopholes for the wealthy

7 months agoNews : The Raw Story

The Senate’s top tax law writer accused President Barack Obama on Tuesday of undertaking “class warfare” with his plan to raise taxes on wealthier Americans to help the middle class. Republican Senator Orrin Hatch, chairman of the Senate Finance Committee, said the proposals Obama...

To Build a Better Tax Code, You Could Follow the Money

Death and taxes: Inevitable, but not always paired. President Obama wants to change that. In a wide-ranging tax plan he’ll highlight at tonight’s State of the Union address, he’d close “arguably the biggest loophole in the tax code for high-wealth households,” says TPC’s Len Burman. Show More Summary

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