The UK has a departure tax ('Airline Passenger Duty') that's high in coach and higher still in premium cabins, and is often referred to as a 'premium cabin departure tax' or 'luxury tax'. One improvement, implemented a little over a year and a half ago, is that children under 12 flying economy no longer pay this tax. Show More Summary
For many young Australians, their annual tax return is an opportunity for extra spending, while some prefer to use their returns to pay off their HECS-HELP debt. Given this is a popular use of tax refund, it is worth tackling the question:...Show More Summary
Andrew Hayashi (Virginia), The Effects of Refund Anticipation Loans on Tax Filing and EITC Takeup: The IRS has an uneasy relationship with tax return preparers. Preparers may ease the tax filing process and improve take-up of benefits like the earned income tax credit (EITC); however, preparers also profit from financial...
Government Accountability Office, Refundable Tax Credits: Comprehensive Compliance Strategy and Expanded Use of Data Could Strengthen IRS's Efforts to Address Noncompliance (GAO- 16-475): The Earned Income Tax Credit (EITC), the Additional Child Tax Credit (ACTC), and the American Opportunity Tax Credit (AOTC) provide tax benefits to millions of taxpayers—many of...
Following up on my previous posts (links below) about taxes and tithing: Christianity Today, When Tithing Comes With a Money-Back Guarantee: This month, hundreds of Christians at a South Carolina megachurch can request a refund on all the money they’ve given since March. NewSpring Church, led by pastor Perry Noble,...
Even during this era of cyber-insecurity, here’s a chilling figure: 3.1 billion. That’s the number of dollars the Internal Revenue Service (IRS) paid in bogus tax refunds in 2014 because of identity theft refund fraud, according to the Government Accountability Office. The IRS has a Taxpayer Protection Program (TPP) that sounds like it should provide […]
Harry Potter star Rupert Grint is in court seeking a refund worth approximately £1 million ($1.33 million U.S.) as part of a tax dispute.
From January through April 2016, the IRS stopped $1.1 billion in fraudulent refunds claimed by identity thieves on more than 171,000 tax returns, a nearly 50% boost from last year's dollars, announced IRS Commissioner John Koskinen today at a Security Summit update. Show More Summary
Taxpayer security, despite some recent issues, actually is improving. That's the word from the Internal Revenue Service and its private sector Security Summit partners Tax crooks tried to claim $1.1 billion in fraudulent refunds on 171,000 returns this latest main tax-filing season, the IRS announced at a press conference this morning. Show More Summary
Alan Feld (Boston University), Federal Taxation of State Tax Credits, 151 Tax Notes 1243 (May 30, 2016): This article analyzes the Federal income tax treatment of state incentive tax credits. It considers whether and when refundable credits should be included in income and discusses their appropriate character as capital gain...
You wanted Brexit news, tax refunds on the ATO’s hit list and 40 delicious cheeseburger recipes. Kick off your Monday by checking out the ten most popular posts from Lifehacker Australia last week: More »
Today is June 22, the date in 1936 when the U.S. first adopted a graduated corporate income tax. Unlike individual income taxes, a progressive corporate income tax doesn’t make much sense. The tax is paid in some combination by shareholders,...Show More Summary
By the time he was 18, James Calabrese helped teach a world history class at his high school that intertwined "Star Wars" canon and philosophy into reality. So, it should surprise no one that Calabrese later blew his tax refund on photos...Show More Summary
As tax time looms closer, online ads spruiking an “instant” or “same day” tax refund have likely caught your attention. (After all, when it comes to cash reimbursements, now is usually better than later.) However, the truth is that many so-called “same day tax refunds” are anything but. Show More Summary
A recent Tax Court case, McAuliffe v. Comr., T.C. Summ. Op. 2016-25, demonstrates the importance of creating and maintaining proof that tax returns are filed, and when they are filed. Though the case involved whether refund or credit...Show More Summary
At issue is how to decide what the stadium is worth. [ more › ]
Today is May 31, the date in 1904 when the U.S. Supreme Court decided McCray v. United States, upholding an excise tax that had the real purpose of discouraging the purchase of one product to benefit a competitor. Dairy farmers successfully...Show More Summary
Trying to pressure banks to cease tax refund anticipation lending, FDIC staff crossed several lines of impropriety [inspector general executive summary via Kevin Funnell] Consumer Financial Protection Bureau, class action lawyers’ best...Show More Summary
Gillian recently explored “How the Tax-Prep Industry Takes Advantage of Low-Income Filers”—namely by overcharging poor people to process…