Some conservatives groups, led by the Heritage Foundation, have been outspoken opponents of the Marketplace Fairness Act, which would close the “Amazon loophole” and allow states to collect sales taxes on online purchases even when the retailers aren’t based within their borders. But a group of conservative organizations that includes Let Freedom Ring, American Majority, [...]
BRUSSELS (AP) — European Union leaders on Wednesday sought to advance their fight against tax fraud and close the loopholes for large corporations’ tax avoidance schemes. European officials say tax fraud costs the 27-nation bloc an estimated 1 trillion euros ($1.3 trillion) a year at a time when much of the bloc is in recession [...]
Apple CEO Tim Cook testified Tuesday before the Senate Permanent Subcommittee on Investigations, following that panel’s report that Apple has avoided tens of billions of dollars in U.S. tax liability through complex, lawful multinational structures. Cook was the latest head of a major technology company to face Senate scrutiny for its corporate tax behavior, after [...]
The United States Senate voted Monday evening to pass the Marketplace Fairness Act, bipartisan legislation that would close what is known as the “Amazon loophole” by giving states the authority to collect sales taxes on online purchases even when internet retailers aren’t based within their borders. That loophole gives online sellers an advantage over brick-and-mortar [...]
The bill closing the online sales tax loophole has made it through four Senate votes with more than 60 supporters, so there isn't much drama attached to a final Senate vote that only requires 50 supporters, slated for Monday afternoon. Show More Summary
Grover Norquist Anti-tax hardliners like Grover Norquist and the Heritage Foundation are seeing their power over congressional Republicans take another hit thanks to the bill that would close the loophole that allows online businesses to not collect sales tax on many transactions, undercutting the prices of brick-and-mortar stores. Show More Summary
Grover Norquist The Senate voted 74 to 20 Monday evening to move forward with the Marketplace Fairness Act, which would close the online sales tax loophole. It did so over the objections of an interesting array of opponents including...Show More Summary
The Senate moved a step closer to giving states the authority to collect sales taxes on online purchases Monday, voting 74-20 to begin debate on the Marketplace Fairness Act. The bill, which would close the so-called “Amazon Loophole” that allows online retailers to avoid collecting sales taxes from purchasers in states where they do not [...]
Your local store has to collect sales tax. Unless you live in a select few states, Amazon does not. That gives Amazon and other online retailers a price advantage of several percent over brick and mortar stores and deprives state and...Show More Summary
The Senate will likely vote this week on legislation that would close the “Amazon Loophole,” a tax loophole that allows online retailers like Amazon and eBay to avoid collecting sales taxes on most purchases made through the sites. The loophole gives online retailers a major advantage over their offline competitors, since they only have to [...]
Supporters argue the bill would close an unfair loophole that benefits online retailers over local brick-and-mortar stores. Read more...
President Obama’s latest budget doesn’t just take aim at the tax code by raising $580 billion in new revenues by closing loopholes, limiting deductions for the wealthy, and instituting the Buffett Rule. It also made the expansion of the Earned Income Tax Credit (EITC) included in the 2009 stimulus package permanent. This refundable credit is [...]
Senator Carl Levin talks to Reuters correspondent Kevin Drawbaugh about a flurry of new proposed bills targeting tax-eluding shell companies in the U.S. and tax havens abroad. In a Tax Day opinion piece at USAToday.com, Sen. Carl Levin,...Show More Summary
John Boehner, Speaker of the House, revealed why it’s politically naive for the President to offer up cuts in Social Security in the hope of getting Republicans to close some tax loopholes for the rich.
John Boehner, Speaker of the House, revealed why it’s politically naive for the President to offer up cuts in Social Security in the hope of getting Republicans to close some tax loopholes for the rich. “If the President believes these...Show More Summary
If you want more kids to grow up into responsible, successful adults who contribute to our society, and if you want lower crime rates and prison populations, investing in good public education makes sense.
Emily Cauble (DePaul), Was Blackstone's Initial Public Offering Too Good to Be True?: A Case Study in Closing Loopholes in the Partnership Tax Allocation Rules, 14 Fla. Tax Rev. ___ (2013): Typically publicly-traded entities must be treated as corporations for tax purposes. Blackstone Group LP is publicly traded; yet, it...
It passed by just one vote. The budget plan was passed by a 50-49 vote in the Democratic-controlled chamber. Four Democratic senators facing tough re-election campaigns in 2014 joined all the Senate Republicans in opposing the measure, which seeks to raise nearly $1 trillion in new tax revenues by closing some tax breaks for the [...]
The latest House Republican budget would grant taxpayers with incomes above $1 million at least $200,000 in tax cuts even if the GOP closes tax loopholes to help pay for the plan, according to an analysis from Citizens for Tax Justice. The GOP plan, authored by Budget Committee Chairman Paul Ryan (R-WI), aims to reduce [...]
LONDON (Reuters) - Britain will close a loophole that has allowed some employers to avoid paying payroll taxes by routing wages through overseas intermediaries, the Treasury said on Saturday.