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Back To School 2014: Health Insurance Premiums As Benefits And Deductions

Do you pay for your own health care insurance? If so, it may be deductible on your federal income tax return. If you're lucky enough to have your health care insurance paid for by your employer, that's tax beneficial, too: health insurance premiums are generally tax-free to employees.

Florida Doctor Sentenced in Criminal Tax Case for Concealing Assets and Filing False Individual Income Tax Returns

Individuals using offshore bank accounts to conceal assets and facilitate tax fraud continue to be prosecuted by the Department of Justice. Under the Bank Secrecy Act, citizens and lawful permanent residents (i.e. "Green Card" holders)...Show More Summary

New SandP Report Shows Income Taxes Are Volatile, Sales Taxes Need Reform

A new report by Standard & Poors finds that rising income inequality may negatively impact state revenue growth. The report confirms the long-standing consensus of tax economists that high, progressive income taxes contribute to revenue...Show More Summary

Income Inequality and Time for State Action

Income inequality may shrink state tax revenues. A new report from Standard & Poor’s tells the tale. Incomes have grown rapidly among the wealthy, but have barely kept pace with inflation for many others. But high income earners both shelter their income from taxes and save more, reducing  state income and sales tax revenues. Show More Summary

THE HILL: Administration threatens to cut off ObamaCare subsidies to 360,000. The Obama administ…

THE HILL: Administration threatens to cut off ObamaCare subsidies to 360,000. The Obama administration announced Monday it will cut off tax subsidies to about 360,000 people if they do not offer proof of their income in the next two weeks. Officials will send final notices this week to individuals who signed up for ObamaCare with [...]

Poll: Illinois voters back referendum issues

Illinois voters strongly support the idea of increasing the minimum wage and raising the state income tax on millionaires — positions that could help Democrats drive turnout in November, a Chicago Tribune poll shows.

U.S. Congress may yet reach a deal to curb inversions, lawmaker says

By Patrick Rucker WASHINGTON (Reuters) - Congress may yet pass legislation this year to curb foreign buyout deals that allow corporations to cut their U.S. income taxes, a leading Democratic lawmaker said on Monday. Many large corporations...Show More Summary

Income Inequality Pressures State Tax Revenue, S&P Says

One of the flashpoints in the debate over the widening income gap has been answering the question, “So what?” What is the real impact of separating wages for the wealthiest Americans and everyone else?

As Rich Get Richer, States Get Poorer

State budgets are feeling the squeeze as a widening gap in American incomes slows tax revenues.

Legislators: Conservation Measure Would Make Tax Relief Hard

Last week I wrote about a rift among Republican lawmakers over what flavor of tax relief North Dakotans should get in the upcoming legislative session. One faction wants to be rid of the income tax, or at the very least implement further reductions in state income tax rate. The other faction wants to keep the...

How income inequality is squeezing state budgets

Widening gap between the wealthiest Americans and everyone else has been matched by a slowdown in state tax revenue

US Ranks 32 in Business Index – Tax Burden Worst in Industrialized World

The U.S. Has the Highest Corporate Income Tax Rate in the industrialized world. Tax Foundation The US tax burden is close to the worst in the world. Democrats want to change that and make it even worse. The Wall Street … Continue reading ?

Increasing Both the Earned Income Tax Credit and the Minimum Wage Would Strengthen Wisconsin’s Families

From www.wisconsinbudgetproject.org. State lawmakers who want to help Wisconsin families recover from the recession should move to boost both the state’s earned income tax credit and its minimum wage. Each policy on its own helps make work pay for families struggling on low wages, but improving them at the same time goes further to putting [...]

Fixing international corporate taxation

Multinational companies’ ability to pay little corporate income tax has grabbed headlines recently. This column argues that the details of international tax rules matter for macroeconomic performance – especially in low-income countries. Show More Summary

The Earned Income Tax Credit: Super-Powerful, but Underused

The Earned Income Tax Credit might lop thousands of dollars off your tax bill.

Welcome to an independent Scotland, where the top marginal rate of income tax is 100 per cent

One point which has been made to me quite a bit in writing about the pound and Scottish independence is that we shouldn't be looking so much at the eurozone as the model, which has plainly been a disaster, but at more successful examples of monetary union between sovereign nations, of which there are admittedly [...]

What is an ‘illegal tax protester,’ and why can’t the IRS use that term any more?

Each year, the Internal Revenue Service deals with individuals who refuse to pay their taxes. Some believe the federal income tax is unconstitutional, others simply don’t want to pony up the cash, and a few have done it as a form of protest against non-tax-related policies such as gay-marriage laws or the Vietnam conflict. In the past, the […]

Don’t Count on Much Economic Growth From Individual Tax Reform…Or From Tax Rate Cuts

Can individual income tax reform that cuts rates and eliminates subsidies increase economic growth? How about tax cuts by themselves? The answer is: Maybe, but not by much, according to a new paper by the Tax Policy Center’s Bill Gale and Andrew Samwick, director of The Nelson A. Show More Summary

How Much of a Writer's (or Blogger's) Income is Subject to the 3.8% Investment Income Tax?

Forbes: Tax Thriller: Best Selling Crime Writer Karin Slaughter Versus The IRS, by Janet Novack: Since her first crime thriller, Blindsighted, became a bestseller in 2001, Karin Slaughter’s books have sold more than 30 million copies and earned her tens of millions in royalties. Now, the 43-year-old Atlanta writer has...

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