taxes news stories on Newser

Lawmakers to Saverin: Don't Come Back

Kevin Spak — Thu, 17 May 2012 10:06:21 CDT

Facebook co-founder Eduardo Saverin's decision to renounce his US citizenship—and, conveniently, a lot of the taxes from his expected IPO windfall—has struck a nerve on Capitol Hill. Chuck Schumer and Bob Casey will today announce a new bill called the "Ex-PATRIOT Act" (a typically dopey acronym meaning "Expatriation...

Why Food Must Be Regulated Like Tobacco

Matt Cantor — Tue, 15 May 2012 15:21:05 CDT

The obesity news just keeps getting worse, the latest example being the study warning that 4 in 10 American adults could be obese in less than 20 years. "Americans eat too damn much," writes David Lazarus in the Los Angeles Times . And though it may be distasteful to get government...

Stephen King: Raise My F***ing Taxes Already

Matt Cantor — Mon, 30 Apr 2012 10:04:41 CDT

Stephen King is following Warren Buffett's lead with an op-ed begging to be taxed more—though King drops in a few more F-bombs in his very salty appeal. In "Tax Me, for F***'s Sake," the wealthy author offers his views on his fellow one-percenters: "The majority would rather douse their...

The Secrets Behind Apple's Super-Low Tax Rate

Mark Russell — Sun, 29 Apr 2012 07:06:22 CDT

Apple is one of the most profitable companies in the world—and also one of the most aggressive and creative at avoiding taxes, reports the New York Times , which outlines a number of the company's tax-avoidance strategies. Among them: Despite its well-known Cupertino, California, headquarters, Apple partly avoids the state's...

GOP Senators Derail 'Buffett Rule'

Mon, 16 Apr 2012 18:29:05 CDT

Senate Republicans derailed a "Buffett rule" bill today, using the day before Americans' taxes are due to defy President Barack Obama on one of his signature election-year issues. By a near party-line 51-45 tally, senators voted to keep the bill alive but fell nine votes short of the 60 needed...

More Americans Drop Citizenship Over Taxes

Neal Colgrass — Mon, 16 Apr 2012 18:18:22 CDT

It's April again: time to add up receipts, find little-known tax breaks , and, in some cases, renounce US citizenship altogether. In fact, a record number of Americans abroad renounced their citizenship last year as complaints increased about IRS rules, Reuters reports. One rule forces all Americans to file forms for...

Buffett Rule 'Scares Conservatives'

Neal Colgrass — Sun, 15 Apr 2012 14:44:55 CDT

Chris Hayes hosted a feisty roundtable discussion today on MSNBC about the Buffet Rule, asking whether President Obama's attempt to tax the rich at 30% is just a "gimmick"—or, as Mitt Romney has warned, a needless "source of division." David Cay Johnson, Reuters columnist: "Ronald Reagan put a tax...

7 Tax Breaks You Probably Don't Know About

Evann Gastaldo — Sun, 15 Apr 2012 09:54:25 CDT

If you've put off your taxes until the last minute, here's a little reward for your procrastination: Time offers seven tax breaks that could save you money—now that you actually know about them: Higher education : There are certain credits available for qualified tuition, and you may not even need...

America's Weirdest State Taxes

Neal Colgrass — Sat, 14 Apr 2012 19:00:05 CDT

Federal taxes may provoke the loudest partisan bickering, but some states impose taxes that could leave you at a loss for words. Fur? Nudity? Bagels? You bet—not to mention blueberries and playing cards. ABC News rounds up a few of the weirdest: Blueberries : Maine, which produces 99% of all...