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Don Young (R-Alaska) violated the solemn oath he took to his constituents by voting for H.R. 2642, the Blue Dog Tax Hike. This income tax hike is a clear violation of the Taxpayer Protection Pledge and considered so serious by Americans for Tax Reform that they will double-rate a vote for this bill ...
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2008-07-25
Governor Edward G. Rendell today signed into law a new, more efficient tax collection system that could yield more than $200 million for municipalities and school systems and improve Pennsylvania's business climate through the standardization, coordination and accountability it provides.
"Today m...
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2008-07-02
The following was released by the Republican National Committee:
Today, Obama Claimed That A Family Making Less Than $250,000 Will Not See Higher Taxes Under His Plan:
Obama: "If you are a family making less than $250,000, my plan will not raise your taxes - not your income taxes, not your pay...
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2008-06-12
"Tax extenders" legislation now before the Senate has become the latest battleground in the intensifying debate over whether Congress should abide by its "pay-as-you-go" (PAYGO) rules and pay for new tax and budget measures so they don't expand the deficit. Opposition to abiding by PAYGO is also imp...
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2008-06-10
SBA has created an online tax savings resource center to help small businesses understand how they can benefit from the 2008 economic stimulus package signed into law by President Bush earlier this year.
The package includes the following tax incentives for businesses: a 50% bonus depreciation al...
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2008-06-10
The City Council of the District of Columbia has passed the "College Savings Program Increased Tax Benefit Act of 2008," immediately raising the income tax deduction for contributions to the DC College Savings Plan from $3,000 per individual taxpayer, to $4,000.
The DC College Savings Plan offers...
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2008-06-09
The deadline to apply for Pennsylvania's Property Tax/Rent Rebate Program for seniors and disabled residents has been extended from June 30 until the end of the year.
"Governor Rendell is extending the program deadline again this year because he wants to be sure that those who are eligible have a...
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2008-06-04
Jackson Hewitt Tax Service Inc. ("Jackson Hewitt") (NYSE:JTX) today reported preliminary tax filing results for the fiscal year ended on April 30, 2008.
Jackson Hewitt's network of franchised and company-owned offices prepared 3.45 million tax returns in 2008, a decline of 5.3% compared to the pr...
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2008-05-21
The following release was issued today by the Republican National Committee:
Obama Has Proposed Numerous Tax Increases That Would Hurt Hard-Working Americans During A Time Of Economic Weakness:
Obama Has Called For Higher Income Taxes, Social Security Taxes, Investment Taxes, And Corporate Tax...
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2008-05-19
The following op-ed was released today by the Republican National Committee. It was written by Andrew G. Biggs and is from The Wall Street Journal.
As the presidential campaign heats up, a key issue is whether to extend the 2001 and 2003 income tax cuts, which expire in 2011. John McCain wants to...
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2008-05-09
On the Today Show this morning, Cindy McCain defended the McCain campaign's decision to withhold her tax returns, saying they would never make her tax returns public--not even if she becomes First Lady. [See it here: http://www.youtube.com/watch?v=iXDV2kZX_MU] Despite the accountability Americans ex...
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2008-05-08
McKenna Long & Aldridge LLP (MLA) today announced that it has added three tax partners to its nationally-recognized corporate department, and the firm plans to bring on additional tax attorneys in the near future. The firm is expanding its tax capabilities to meet the broadening needs of its current...
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2008-05-05
The following release was issued today by the Democratic National Committee:
A report in today's Washington Post highlights how far John McCain is willing to go to get elected. According to the Post, "Now that he is the presumptive Republican presidential nominee, however, McCain is marching stra...
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2008-04-25
The American Institute of Certified Public Accountants advises taxpayers to take advantage of the opportunities offered by the nation's tax laws to save money. Do it now, the AICPA says, because today is the day American taxpayers will stop working for the federal government and start working for th...
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2008-04-23
The federal government disbursed $2.45 trillion in domestic spending in 2006, according to two reports published by the U.S. Census Bureau. That represented a 7.5 percent increase in federal spending over 2005.
The first of the new reports, Consolidated Federal Funds Report: 2006, provides a broa...
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2008-04-23
In another sign of the state's slumping economy, the number of Illinoisans living in poverty surged by a whopping 19 percent in the past five years, according to a new report released Wednesday by Heartland Alliance's Mid-America Institute on Poverty. The hefty increase boosts the total number of po...
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2008-04-16
Duff & Phelps Corporation (NYSE:DUF) , a leading provider of independent financial advisory and investment banking services, today announced the formation of its Strategic Tax Advisory Services practice. The practice will be co-led by new Managing Directors Joseph Schmidt and Catherine Hunter.
Ge...
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2008-04-16
Americans tend to think we are better off than families in most other industrial countries because we pay lower income taxes. But when we factor in the higher amount Americans pay for health care, child care, and education, the comparison is not always in our favor. Where do American families' tax d...
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2008-04-15
The clock is ticking, and taxpayers have only days left to file their 2007 returns.
To help them as they race toward the April 15 deadline, CPAs holding the Personal Financial Specialist (CPA/PFS) credential of the American Institute of Certified Public Accountants offer their favorite last-minut...
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2008-04-11
The Minnesota Department of Revenue announced today that a Golden Valley tax preparer was charged in Hennepin County Court with five felony counts of failure to file tax returns, five gross misdemeanor counts of failure to file tax returns, and five felony counts of failure to pay tax.
An investi...
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2008-04-10
The gaps between the incomes of the rich and the poor, and the rich and the middle class, have grown more in Mississippi since the late 1990s than in any other state, according to a new study by the Center on Budget and Policy Priorities and the Economic Policy Institute, two Washington, DC-based th...
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2008-04-09
The following release was issued today by Ken Hoagland, National Communications Director of FairTax.org:
To stimulate consumer spending this year America will essentially borrow money from China and other lender nations and provide rebate checks to our taxpayers. Astoundingly, however, just obeyi...
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2008-04-08
Construction workers, mechanics, welders, electricians, plumbers, truck and bus drivers, and other laborers need not break a sweat when it comes to filing their 2007 tax return. From April 8 through April 10, 2008, participating offices of Jackson Hewitt Tax Service(R) are celebrating workers in the...
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2008-04-07
Bread for the World Institute will release a new report on April 7, on the Earned Income Tax Credit (EITC) and savings to taxpayers who use Volunteer Income Tax Assistance (VITA) programs. The report, "Asset Building at Tax Time: Scaling Up Volunteer Income Tax Assistance," includes fact sheets for ...
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2008-04-07
Almost all major Iowa manufacturers maintain facilities in other states that have adopted a corporate tax reform measure known as "combined reporting" -- including several outspoken opponents of Governor Culver's proposal to adopt combined reporting in Iowa, according to the Washington, DC-based Cen...
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2008-04-03
It is conventional wisdom to itemize deductions on your tax return to save money, but sometimes that strategy is wrong, according to the American Institute of Certified Public Accountants. "Counterintuitive thinking can cut tax bills for many taxpayers," said Tom Ochsenschlager, vice president - tax...
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2008-03-28
Today the Minnesota Department of Revenue announced that the state of Minnesota has adopted most of the recent federal tax changes, as a result of legislation enacted on March 7, 2008.
However, two federal provisions that were not adopted will require individuals to add back the federal deduction...
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2008-03-27
IRSCompliance, Inc., the Regulatory Compliance Services Arm of 1099 Pro, Inc., announced today that United States businesses may be significantly impacted by new and proposed IRS legislation and initiatives during the next few years.
Jerry Michael, CEO of IRSCompliance, Inc. and former Chief of I...
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2008-03-26
The Pennsylvania Breast Cancer Coalition (PBCC) will hold a press conference on Monday, March 24 at 10:30am at the University of Pennsylvania in the Flyers-76ers Surgery Theatre on the main floor of One Ravdin Pavilion, 34th and Spruce Streets, to publicize this year's Income Tax Check-Off for Breas...
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2008-03-19
H&R Block is looking for clients who speak Spanish - and Chicago-based advertising agency Lapiz is helping to bring them onboard through a new ad campaign that reinforces the tax company's position as the expert and advocate for the Hispanic taxpayers.
Showcasing the company's commitment to the H...
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2008-03-19
This time of year many families across Ohio have already received, or will soon receive, their state or federal tax refund. The Ohio Tuition Trust Authority, the state agency administering Ohio's 529 college savings plan, is encouraging families to use some or all of their refund to save for college...
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2008-03-17
The Forum for Analysis of Corporate Taxation (FACT) and the American Enterprise Institute (AEI) today co-hosted a conference that considered the effects of corporate income tax policy in the United States. Research presented at the conference examines the implications of tax policy not only for corp...
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2008-03-17
The following is being issued by the Republican National Committee:
Early This Morning, Senate Dems Passed Their FY 2009 Budget, Which Would Hit Americans With The "Largest Tax Hike In U.S. History":
Sens. Clinton And Obama Voted In Favor Of The Democrats' FY 2009 Budget. "Adoption of the conc...
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2008-03-14
This year, a new group of taxpayers will file their tax returns for the first time rather than being claimed as a dependent by a parent. In addition to learning about the process of filing an annual tax return, these young people may be unsure if they should file on their own or choose a paid prepar...
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2008-03-13
Residents of Louisiana's 6th Congressional District need a true taxpayer advocate who will courageously fight for lower taxes and limits on federal spending. That's the assessment of the National Taxpayers Union Campaign Fund (NTUCF), which today announced it has endorsed former Louisiana State Rep....
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2008-03-05
At the world's top renewable energy conference today in Washington, DC, leaders from the renewable energy sector, including venture capital, banking and industry, called on Congress and the Administration to work together to quickly approve the Investment Tax Credit (ITC) and the Production Tax Cred...
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2008-03-04
Federal fiscal relief should be provided to the states that need it, according to a new report by the Center on Budget and Policy Priorities. The report ranks all 50 states according to recent changes in three economic measures -- employment, poverty, and housing foreclosures -- and finds that 27 st...
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2008-03-03
With a slowing economy increasing the threat of hunger for many Idaho families, lawmakers should extend the state's grocery tax credit to those who need it the most, according to a new report from the Washington, DC-based Center on Budget and Policy Priorities.
Such action would undo a dubious di...
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2008-02-28
Capital Gold Group was designated a Kingdom Sponsor for the annual conference of the "National Association of Christian Financial Consultants" recently at the Founders Inn, Virginia Beach, Virginia. The NACFC (National Association of Christian Financial Consultants) is a group of investment professi...
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2008-02-27
A Rockland woman was sentenced today in federal court for Health Care Fraud and Tax Evasion.
United States Attorney Michael J. Sullivan and Douglas Bricker, Special Agent in Charge of the Internal Revenue Service in New England, announced today that LISA R. DELOREY, age 44, of 202 Standpipe Drive...
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2008-02-27
Speaker Nancy Pelosi spoke on the floor this afternoon urging the passage of H.R. 5351, the Renewable Energy and Energy Conservation Tax Act of 2008. Below are her remarks:
"One year ago, actually a little longer, January 2007, Mr. Rangel brought to the floor legislation similar to this. What it ...
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2008-02-27
(NewsUSA) - The government's efforts to stimulate the U.S. economy by sending out checks to workers could backfire, suggests a survey asking consumers what they will do with their checks.
Nearly three-quarters of those asked said they will either pay down debt or save the money that's being sent ...
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2008-02-27
A new report for affluent investors takes the wealth management community to task for unjustified high fees and inadequate services. It urges high net worth investors to become more active in measuring and managing their advisors and estate plans.
According to the report, Managing Your Wealth Wis...
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2008-02-27
What:
The Minnesota Department of Revenue is partnering with local businesses and public service agencies to mark the opening of nearly 300 free tax preparation sites around the state.
Minnesota Department of Revenue Commissioner Ward Einess will speak at the St. Paul location to highlight free ...
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2008-02-27
Do you live in a home you bought in 2007? Then you'll want to apply for a $50,000 ($25,000 for homes worth $50,000 or less) homestead exemption by March 3, 2008. And for the first time this year, it's also important to apply for property tax portability for homestead owners who bought and sold a Flo...
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2008-02-27
House Republican Whip Roy Blunt (Mo.) tomorrow will join Ranking Members Jim McCrery (Ways and Means), Don Young (Natural Resources), and Joe Barton (Energy and Commerce), as well as other members of the House Energy Action Team (HEAT), in holding a press conference to discuss H.R. 5351 -- the lates...
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2008-02-27
WealthCounsel, LLC announced today that it recently launched a web-based survey soliciting input from the nation's estate planning attorneys on the action they believe Congress will take prior to the expiration of the current federal estate tax rates. Following enactment of the new legislation, Weal...
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2008-02-27
There is no question that a college education is valuable. Today, college graduates are expected to earn over $1,000,000 more than high school graduates during their working lives. That's something worth supporting. Yet while 81% of parents say that paying for their child's college education is impo...
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2008-02-27
A Rockland woman was sentenced today in federal court for Health Care Fraud and Tax Evasion.
United States Attorney Michael J. Sullivan and Douglas Bricker, Special Agent in Charge of the Internal Revenue Service in New England, announced today that LISA R. DELOREY, age 44, of 202 Standpipe Drive...
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2008-02-27
Mortgage rates spiked this week, with the average conforming 30-year fixed mortgage rate now 6.37 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.4 discount and origination points.
The average 15-year fixed rate ...
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2008-02-20
For at least the third time in the last two weeks, Sen. John McCain pledged to veto any tax increase if elected President.
1) On Sunday, Feb. 17, appearing on "This Week with George Stephanopoulos," McCain made an unequivocal promise to oppose any tax increase if elected President:
GEORGE STEP...
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2008-02-20
Despite continuing turmoil in the housing and financial markets, a U.S. recession is not imminent, The Conference Board reports today.
"While the correction in the financial sector is just beginning, the correction in the housing sector is nearly over," declares Gail D. Fosler, President and Chie...
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2008-02-20
It may sound shocking, but believe it or not, filing your taxes can help children reach their educational potential. In fact, the Futuretrust(R) college savings program and H&R Block(R) have partnered to help American families jumpstart their college savings as they file their taxes.
According to...
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2008-02-20
As tax season approaches, an increasing number of people plan to file their federal taxes online, according to the Consumer Internet Barometer.
Forty percent plan to file online, up from 34 percent three years ago. More than two-thirds of consumers report having filed online for three years or mo...
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2008-02-20
Increasingly more small business owners are uncertain about whether or when they will retire as they fail to apply their business and financial skills to their own finances. A recent KeyBank survey found that while small business owners have confidence in their financial planning abilities, the majo...
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2008-02-13
Attorney Dennis B. Evanson of Sandy, Utah, was convicted on tax and fraud charges after a two week jury trial, the Justice Department and Internal Revenue Service (IRS) announced today. Investment broker Wayne F. DeMeester of Sammamish, Washington was acquitted of all counts.
Evanson, along with ...
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2008-02-13
"We applaud the President and Congress for recognizing the economic struggles of everyday Americans and moving quickly to provide much needed tax relief. As families wrestle with their mortgages and rising prices -- from a tank of gas to the winter utility bill coming due -- Wal-Mart sees first hand...
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2008-02-13
Steve Preston, Administrator of the U.S. Small Business Administration, made the following statement today on the signing of HR 5140, the Recovery Rebates and Economic Stimulus for the American People Act of 2008:
"This bill is a win for small businesses in three major ways: tax rebates will stim...
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2008-02-13
House Republican Whip Roy Blunt (Mo.) issued the following statement today after attending the president's formal signing of H.R. 5140, the Economic Stimulus Act of 2008:
"President Bush signed a piece of good, bipartisan legislation into law today that will help address Americans' growing anxiet...
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2008-02-13
The Bank of America Charitable Foundation today announced the start of a four-city tour across California with First Lady Maria Shriver to promote awareness and use of the Earned Income Tax Credit (EITC) program. The "We Connect" tour will be funded by the Bank of America Charitable Foundation as pa...
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2008-02-11
The Senate tonight voted on a bipartisan economic stimulus bill that would provide relief to millions of taxpayers, including seniors and disabled veterans. Needing 60 votes to move forward on the bill, supporters came one vote short, with one senator absent. The one missing senator: John McCain, wh...
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2008-02-06
Thomson Tax & Accounting, a segment of The Thomson Corporation (NYSE: TOC; TSX: TOC), has released OneSource Tax(SM), a portal interface designed to help corporate tax departments easily access tax tools, manage workflows, and track key information.
"The vision behind developing the OneSource Tax...
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2008-02-04
Maybe your next move after watching the Super Bowl should be tackling your taxes. With the football and holiday seasons behind us, why wait until the last minute? Rushing may contribute to mistakes and you might miss opportunities to save money. If you're getting ready to prepare your 2007 taxes, th...
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2008-02-01
The Adelphia Recovery Trust ("ART") announced today that the February 13, 2007 Effective Date value for federal income tax purposes of the assets transferred to the ART was $677.7 million (including cash of $25 million). The ART Declaration of Trust and the Adelphia reorganization plan require the A...
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2008-01-31
The Greater Los Angeles Earned Income Tax Credit (EITC) Campaign Partnership, led by United Way of Greater Los Angeles today launched its annual effort to help low and moderate-income families reach financial stability and continue increasing the number of EITC filings for qualified taxpayers. The L...
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2008-01-31
Announce that 16 free tax preparation sites open this week
Mayor Nutter joins The Campaign for Working Families to announce the opening of 16 free tax preparation sites this week throughout Philadelphia. January 31 is "Earned Income Tax Credit (EITC) Day," a nationwide effort to increase public a...
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2008-01-30
WorldTrade Executive, Inc. announces the publication of the newly-updated 2008 edition of MEXICO TAX, LAW AND BUSINESS BRIEFING. The 512 page report details important changes in Mexico's tax and finance laws, as well as new case studies and analysis from leading practitioners.
One of the hot issu...
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2008-01-30
The Ohio Tuition Trust Authority is reporting another significant increase in participation in the CollegeAdvantage 529 Savings Plan during 2007 by Ohioans. Over the past year, nearly 42,000 new CollegeAdvantage accounts were opened by Ohio families with contributions totaling over $617 million. New...
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2008-01-30
More than 2,400 state legislators have called on Congress to permanently extend the Bush tax cuts to promote economic growth and wane fears of a possible recession in a resolution recently passed by the American Legislative Exchange Council (ALEC).
"Some of the angst we are currently seeing among...
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2008-01-30
Starting today, Ariva, a Bronx-based non-profit organization providing wealth building knowledge and tools, is providing tax preparation and financial literacy classes to low and moderate-income Bronx area residents. The Ariva program will be hosted at CheckSpring, 69 East 167th St., Bronx, NY.
A...
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2008-01-30
New tax laws enacted in 2007 may lead to additional benefits for a range of taxpayers, according to Jackson Hewitt Tax Service(R), an industry leader providing full service individual federal and state income tax preparation.
"Changes to existing provisions and brand-new rules may help qualified ...
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2008-01-30
The Washington DC based Federal Budget Group today announced release of America's Priorities: How the U.S. Government Raises and Spends $3,000,000,000,000 (Trillion) Per Year, by Charles S. Konigsberg, a long-time Senate and White House aide.
Mr. Konigsberg, who now publishes the highly regarded ...
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2008-01-30
Nothing is certain but death, taxes -- and changes in the tax rules. "Even if you took advantage of every tax break available to you in 2006, you may not be aware of some of the new breaks available for 2007," says Harris Abrams, RIA Senior Tax Analyst from Thomson Tax & Accounting. Keep these new-f...
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2008-01-28
Economic stimulus will be a centerpiece of President Bush's last State of the Union this evening. The American Council for Capital Formation (ACCF) agrees that a short-term economic jumpstart is necessary, but it should be larger than Bush's proposed package of 1 percent GDP. In the very successful ...
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2008-01-28
WASHINGTON, Jan. 25 The following op-ed was issued today by Donna Klein and Margaret A. Roark:
The Bush Administration and members of Congress are now considering a package of tax rebates and business incentives to stimulate our economy. One goal is to get additional cash into the hands of workin...
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2008-01-25
Americans for Tax Reform today released an updated version of its "Presidential Tax Matrix." This handy one-page reference tracks all the Presidential candidates on their positions related to major tax issues.
Since releasing the initial version of the tax matrix last week, two campaigns have add...
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2008-01-25
Three defendants, whose trial was scheduled to begin in U.S. District Court in Salt Lake City next week, have pleaded guilty to conspiring to defraud the United States, the Department of Justice and Internal Revenue Service (IRS) announced today.
Attorney Graham R. Taylor, of Tiburon, Calif., ent...
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2008-01-24
As National Sponsors of the March of Dimes, Liberty Tax is devoting a major portion of the 2008 tax year to fundraisers and volunteerism on behalf of this worthwhile organization.
On Saturday afternoon, January 26th, Liberty Tax Service is hosting "Dance for Babies Roadside Parties" at all U.S. o...
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2008-01-21
As Congress debates whether to renew tax cuts enacted early in the George W. Bush presidency, as well as various economic stimulus plans, critics often label the measures as "tax cuts for the rich." Yet a new report from the National Center for Policy Analysis (NCPA) says the Bush tax cuts made the ...
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2008-01-21
Thomson Tax & Accounting and Thomson West announced they are joining forces as a new, primary corporate sponsor of the American Bar Association Section of Taxation, which is the largest professional organization of tax lawyers.
By combining the resources of Thomson Tax & Accounting and Thomson We...
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2008-01-17
For two decades, Americans for Tax Reform has asked all presidential and federal candidates to commit to their constituents, in writing, to oppose any and all efforts to raise income taxes. On the presidential level, every Republican nominee since Ronald Reagan has made this commitment, including Pr...
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2008-01-16
Improvements to the state's electronic income tax filing system now make it possible for owners of small businesses to join the millions of Pennsylvanians who enjoy the advantages of electronic tax filing, according to Department of Revenue Secretary Tom Wolf.
"Last year, approximately 3 million ...
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2008-01-16
CGI Group, Inc. (TSX: GIB.A; NYSE: GIB), a leading provider of information technology and business process services, today announced that it has been selected by the State of Vermont for a project to dramatically improve state tax operations. The two-year contract is valued at US$6.3M.
To enhance...
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2008-01-16
Dessie Ruth Nelson, age 65, of Oakland, California, a former longtime employee of General Services Administration (GSA), pleaded guilty today to accepting over $100,000 in bribes and evading taxes on the bribe payments she accepted in return for her assistance in awarding three federal contracts wor...
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2008-01-10
Former New York Mayor Rudy Giuliani today released a pro-growth tax cut package. This multi-trillion dollar tax cut would easily exceed the level of the Reagan or Bush tax cuts. This package is the most pro-growth tax cut of any GOP presidential candidate.
Giuliani's tax plan makes all the Bush t...
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2008-01-09
Among the 2008 presidential field, all but two of the Republican candidates -- Sens. John McCain and Fred Thompson -- have made a written commitment to the American people promising to oppose and veto income tax increases.
Sen. McCain signed the Taxpayer Protection Pledge as a candidate for presi...
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2008-01-07
State tax systems are failing to keep up with fundamental shifts in the economy and are impeding states' overall fiscal health, according to analysis released today by The Pew Charitable Trusts' Center on the States. Pew's research, appearing in the article Growth and Taxes in Governing magazine's J...
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2008-01-03
John Hancock Tax-Advantaged Dividend Income Fund (NYSE:HTD) declared its monthly distribution pursuant to the Fund's level distribution policy today as follows:
Declaration Date: January 2, 2008
Ex Date: January 10, 2008
Record Date: January 14, 2008
Payabl...
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2008-01-02
The government reached an important landmark by topping $2 billion in rewards paid to citizens for reporting fraud. The average whistleblower reward was $1.5 million. The largest reward exceeded $100 million.
Last year, the government spent more than $2.5 trillion dollars. Under many of its progr...
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2008-01-02
Four years ago John Hewitt, CEO of Liberty Tax Service, issued a call to action. Based on the success of several Liberty offices in non-traditional Hispanic areas, he predicted an opportunity.
Hewitt created a Hispanic Services Division at Liberty and hired a consultant to begin an aggressive edu...
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2008-01-02
M REVENUE AND CUSTOMS News Release issued by The Government News Network on 2 January 2008
With the 31st January self assessment filing deadline only weeks away,
HMRC is urging people to file their returns online and on time.
Online filing is safe, secure and convenient and has a number of ot...
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2008-01-02
Former Arkansas Governor and Presidential Candidate Mike Huckabee will receive the endorsement of Florida State Senator Mike Haridopolos this evening while attending a fundraising event in Miami.
"Senator Haridopolos is a great legislator for the state of Florida and I value his work as a long-ti...
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2007-12-26
This New Year, while you're working off the extra inches, try adding on some extra dollars. Paying off debt and saving money are among the most popular New Year's resolutions. The Texas Society of CPAs can offer up some helpful hints for those who want to meet their financial goals in the months to ...
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2007-12-26
Just before adjournment, Congress has handed out some Christmas presents for taxpayers affected by the alternative minimum tax, or AMT, and forgiveness on their mortgage debt, according to CCH, a Wolters Kluwer business and a leading provider of tax, accounting and audit information, software and se...
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2007-12-21
Horizon Lines, Inc. (NYSE:HRZ) is pleased that the tax writing committees in Congress chose to strike the Puerto Rico tonnage tax repeal language from the Technical Corrections Act legislation passed by Congress this week. This progress is in no small part due to the active support of our maritime u...
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2007-12-20
For most people, setting financial goals is an important part of starting off a new year. The start of 2008 is an ideal time to develop strategies to reduce personal debt or adjust a financial portfolio to reflect changing market conditions. But for those who are looking to start a 529 college savin...
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2007-12-12
Horizon Lines, Inc. (NYSE:HRZ) today responded to a challenge to Puerto Rico's tonnage tax eligibility.
Included as part of the American Jobs Creation Act of 2004, the tonnage tax allows corporations to pay a tonnage tax as opposed to the regular U.S. corporate income tax on the taxable income fr...
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2007-12-12
The following was released today by the U.S. Small Business Administration:
WHO: Thomas P. Ochsenschlager, vice president of Taxation for the American Institute of Certified Public Accountants (AICPA), will host the SBA's December Web chat on "Year-End Tax Savings for Your Small Business." Chat p...
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2007-12-10
The Alliance to Save Energy today urged members of the U.S. House of Representatives to adopt an energy package that will save American consumers money while also improving our environment and increasing our nation's energy security. H.R. 6, the Energy Independence and Security Act, emphasizes energ...
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2007-12-05
This morning, House Republican leadership unveiled a comprehensive report detailing how the Democrats' legislative agenda threatens our nation's economic future at a time when hard-working Americans are already stretching their budget thin to provide for their families. House Republican Whip Roy Blu...
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2007-12-05
House Speaker Nancy Pelosi's (D-CA) "new direction" in energy policy actually takes a familiar turn: more money out of taxpayers' pockets and stymied energy development, according to the 362,000-member National Taxpayers Union (NTU). The legislation, unveiled yesterday, would unwisely penalize oil c...
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2007-12-05
The American Conservative Union has called on Congress to reject proposed energy legislation it says would "threaten to set the U.S. back decades in energy cost and availability" and called on President Bush to veto the bill if it reaches his desk.
ACU Chairman David A. Keene said House Speaker N...
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2007-12-05
Alternative traffic relief proposals to PlaNYC congestion pricing by Brooklyn Congressman Anthony Weiner, Brooklyn Councilman Lew Fidler and The Keep NYC Congestion Tax Free Plan fail the reality test for timeliness, ability to cut traffic and ability to fund mass transit.
That's the conclusion o...
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2007-12-05
DEPARTMENT FOR WORK AND PENSIONS News Release (HSE-050) issued by The Government News Network on 5 December 2007. Older people will soon be able to get more help with rent and Council Tax
bills without having to send off any forms, the DWP announced today.
The Pension Service will deal with the...
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2007-12-05
Small business owners across Florida overwhelmingly say that lawsuit abuse is bad for their businesses and forces them to raise prices, according to a new statewide survey released today by Florida Stop Lawsuit Abuse (FSLA).
The survey of Florida small business owners exposes the troubling impact...
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2007-12-05
The Alliance to Save Energy today urged members of the U.S. House of Representatives to adopt an energy package that will save American consumers money while also improving our environment and increasing our nation's energy security. H.R. 6, the Energy Independence and Security Act, emphasizes energ...
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2007-12-05
Yellow Pages Corporation, operator of popular online YellowPages sites and telephone books including travel website aggregator YELLOWPAGES.travel and popular search engine SearchBoth.com, today announced it has launched category based legal directories for Tax Law with TaxLawYellowPages.com in order...
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2007-11-28
Aflac Incorporated announced today that Japan Post Network Co., Ltd., a subsidiary of Japan Post Holdings Co., Ltd., has selected Aflac Japan as the exclusive provider of cancer insurance for distribution through the nationwide postal office network.
Japan Post Network Co. is one of four separate...
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2007-11-16
Filing time for 2007 income taxes is still months away, but on Veterans Day, the Minnesota Department of Revenue reminds taxpayers about an important tax benefit for members of the military.
"Veterans Day is a time to thank the individuals and families who have made extraordinary sacrifices for o...
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2007-11-09
Today, Congresswoman Stephanie Tubbs Jones joined a majority of her Democratic colleagues in voting in favor of H.R. 399, the Temporary Tax Relief Act of 2007. This legislation includes provisions that provide Alternative Minimum Tax (AMT) relief and extend a number of popular tax provisions set to ...
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2007-11-09
Speaker Nancy Pelosi spoke on the floor this afternoon in support of H.R. 3996, the Temporary Tax Relief Act of 2007, which will provide tax relief to 23 million middle-class families by preventing them from being subject to the Alternative Minimum Tax (AMT). The bill passed by a vote of 216 to 193....
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2007-11-09
The Fed has done it again and cut interest rates for a second time this year by .25% bringing the fed funds rate to 4.50% and the Prime rate to 7.50%.
What does that mean for consumers?
Any consumer who has a home equity loan should cheer as the rates on their loans will drop by .25% the next ...
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2007-11-07
With consumers facing a host of pressures, retailers can expect 2007 holiday season sales growth to come in at least two percentage points below 2006 levels, according to Clear Thinking Group, LLC, a retailing/consumer products and industrial manufacturing consultancy headquartered here.
"We're l...
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2007-11-07
Speaker Nancy Pelosi issued the following statement today as the price of oil rose to nearly $100 per barrel:
"As the price of oil surges toward an historic high of $100 a barrel -- almost four times the price when President Bush took office -- the 110th Congress is committed to a New Direction f...
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2007-11-07
On November 8, 2007, Mark Iwry and David C. John, representing The Retirement Security Project (RSP), will testify before the House Education and Labor Committee's Subcommittee on Health, Employment, Labor & Pensions, in support of the Automatic IRA proposal to dramatically expand retirement saving....
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2007-11-07
A proposal to double Maryland's cigarette tax to $20 per carton will mean lost sales and lost jobs among Maryland convenience stores, according to an economic study commissioned by the Mid-Atlantic Petroleum Distributors' Association (MAPDA).
The Sage Policy Group study(1), "Prospective Impact of...
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2007-11-02
Now is the time to save on your 2007 income taxes. Liberty Tax Service (http://www.libertytax.com/) reminds consumers that there are still ways to yield savings and cut their tax bill by exercising fundamental, money-saving measures -- before the end of the year.
"Many taxpayers are unaware of ma...
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2007-11-01
Tomorrow, the House Ways and Means Committee will consider legislation to bring temporary Alternative Minimum Tax relief that will impact millions of taxpayers. In anticipation of this markup, Clint Stretch, managing principal of tax policy for Deloitte Tax LLP, released the following statement:
...
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2007-10-31
(NewsUSA) - As the holidays approach, making lists of who was naughty, who was nice and what kind of gifts you'll be handing out becomes a priority.
But with the tax year closing just after the holidays, it can't hurt to think about how gifting can reduce your tax burden.
According to Jim Tyrp...
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2007-10-31
Congress passes seven-year moratorium on Internet taxes, stops short of a permanent ban
Washington, DC – Two days before the November 1st expiration date of the Internet Tax Freedom Act, the House voted unanimously today to pass a seven-year extension of the ban on Internet taxation. While the p...
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2007-10-30
Highly-paid wage earners will see a moderate increase in the wage base on which Social Security taxes are due for 2008, according to CCH, a leading provider of tax, benefits and payroll law information and software and a part of Wolters Kluwer Law & Business (hr.cch.com). The 2008 wage base of $102,...
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2007-10-29
Maryland Governor Martin O'Malley's revenue proposal would make a number of important improvements to the state's tax system, but the legislature could go further by providing more tax relief to low-income families and increasing progressivity.
"By closing corporate loopholes, making the income t...
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2007-10-26
Equifax, Inc. (NYSE:EFX) today announced that its newest business unit, TALX, a leading provider of human resource and payroll-related services, continues its strong momentum since it became part of Equifax in May 2007. Leading the way for TALX is its automated employment and income verifications se...
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2007-10-24
Cookie, the Conde Nast lifestyle magazine for the modern mom, today announced it will launch a yearlong nonpartisan initiative called Cookie's "MomtheVote" to inform and engage mothers about the upcoming Presidential election.
Cookie's "MomtheVote" program, which has been trademarked, will includ...
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2007-10-24
-- Bank Donates 10,000 Grow Up Great Kits to Philadelphia Preschoolers --
PHILADELPHIA, Oct. 24 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE:PNC) , in collaboration with the U.S. Department of Health and Human Services' Administration for Children & Families (ACF) and the Interna...
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2007-10-24
-- Bank Donates 10,000 Grow Up Great Kits to Philadelphia Preschoolers --
PHILADELPHIA, Oct. 24 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE:PNC) , in collaboration with the U.S. Department of Health and Human Services' Administration for Children & Families (ACF) and the Internal...
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2007-10-24
With oil prices topping $88 a barrel yesterday, and prices at the pump sure to follow, the Alliance to Save Energy is once again calling on Congress to enact, immediately, higher Corporate Average Fuel Economy (CAFE) standards. It will take time for the standards to become effective and provide reli...
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2007-10-17
Thanks to $100,000 in grants from Verizon Pennsylvania, six nonprofit organizations will be able to offer scholarships to families who want to send their children to public, private or parochial schools in the commonwealth.
The grants were made possible through Verizon's participation in the stat...
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2007-10-17
As the days in 2007 dwindle down to a precious few, taxpayers who want to minimize their tax burden for this year and next have a range of options, but also face a considerable amount of uncertainty, according to CCH, a Wolters Kluwer business and a leading provider of tax, audit and accounting info...
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2007-10-16
Today, the Tax Foundation released its 2008 State Business Tax Climate Index. The Index ranks how "business friendly" the 50 state tax systems are, providing a roadmap for state lawmakers concerned with keeping their states tax competitive.
Keeping a state competitive in today's global market can...
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2007-10-16
Today, the Tax Foundation released its 2008 State Business Tax Climate Index. The Index ranks how "business friendly" the 50 state tax systems are, providing a roadmap for state lawmakers concerned with keeping their states tax competitive.
Keeping a state competitive in today's global market can...
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2007-10-10
MFA Mortgage Investments, Inc. (NYSE:MFA) announced today the pricing of an underwritten public offering of 7,000,000 shares of its common stock at a price to the public of $7.90 per share, for estimated gross proceeds of approximately $55.3 million. MFA has granted the underwriters a 30-day option ...
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2007-10-04
According to a report released today by the Institute for Policy Innovation (IPI), pandemic theft of copyright-protected products, including motion pictures, video games, sound recordings as well as business and entertainment software, has cost the U.S. $58 billion in annual economic output and 373,...
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2007-10-03
The Chairman and founder of Americans for Fair Taxation, the organization which advocates enactment of the FairTax Plan today marked the untimely death of Mr. John Berthoud who has headed the National Taxpayers Union since 1997 and who passed away last night.
"Mr. Berthoud was a tireless advocate...
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2007-09-28
The Health IT Now! Coalition, co-chaired by former Sen. John Breaux and former Rep. Nancy Johnson, called on Congress once again today to pass health information technology legislation this session.
"It's time for Congress to act so that our health care system can begin to deliver to patients the...
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2007-09-27
South Florida Water Management District lowers its tax rates for FY2008 as part of annual budget approval
$1.3 billion budget reflects a 10-percent reduction for most District taxpayers
WEST PALM BEACH - At a public hearing tonight, the Governing Board of the South Florida Water Management Dis...
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2007-09-26
Bankrate, Inc. (NASDAQ:RATE) announced today that banking fees have hit all-time highs in several areas, including ATM surcharges ($1.78 up from $1.64), bounced check fees ($28.32 up from $27.40) and monthly service fees on interest checking accounts ($11.72 up from $10.74). The research is compiled...
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2007-09-26
The indexing of many features of the tax code will bring some relief to taxpayers next year, according to CCH, a Wolters Kluwer business and a leading provider of tax and accounting law information, software and services. CCH today released estimated income ranges for each 2008 tax bracket (CCHGroup...
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2007-09-26
Following are the comments Bill McMaster of Taxpayers United Michigan Foundation prepared for delivery to the Michigan House of Representatives' 30-member Appropriations Committee meeting in the State Capitol today. Copies in the form of a News Release will be distributed to Gov. Jennifer Granola, 3...
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2007-09-26
The Minnesota Department of Revenue announced today that the Kanabec County District Attorney charged BWHC LLC, doing business as Bluewater Yachts, 811 Maple Ave. E., Mora, with one felony count for tax evasion. In addition, the owner and the executive vice president of the business were charged wit...
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2007-09-20
Presidential candidate Hillary Clinton unveiled her long awaited health care plan in Iowa today. The following is a response to the plan by National Center for Policy Analysis (NCPA) President John C. Goodman:
"Universal coverage at a minimum requires a credible plan. So far, no presidential cand...
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2007-09-17
Renting out your second home is a great moneymaker, and when you save
the maximum on taxes, it's even better. Christine Karpinski offers a
list of deductions to help you make the most of your investment.
Austin, TX (April 2007)—The dreaded taxes due date, April 15, is just around the corner. ...
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2007-04-11
With just a few days left in 2006, you can still positively impact your tax situation. For some no- cost tips in the comfort of your own home or office, join Jackson Hewitt Tax Service(R) on December 20, 2006 at 2 pm EST for a free, 30-minute online seminar on year-end tax tips for individuals. Atte...
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2006-12-18
WASHINGTON, DC – This year, give your favorite horse owner the gift of a stress-free tax season with the American Horse Council’s 2006 Tax Handbook. This 1000-page guide for horse owners and breeders explains the Internal Revenue Code as it pertains to the U.S. horse industry.
Horse owners and ...
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2006-12-05
A West Brookfield man was convicted Monday, November 6, 2006, in federal court of filing a false tax return in connection with his not reporting as taxable income cash payments received by his construction business, thus allowing him to avoid paying an additional $94,000 in taxes over a three-year p...
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2006-11-08
An "urgent wake-up call" was issued today by two groups warning that tens of thousands of American seniors are being forced into financial ruin under the crippling weight of billions of dollars in federal, state and local "tax rip-offs." Among the "anti-senior" taxes highlighted by The Seniors Coali...
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2006-11-03
Highly-paid wage earners will see a moderate increase in the wage base on which Social Security taxes are due for 2007, according to CCH, a leading provider of tax and payroll information and software (hr.cch.com). The 2007 wage base of $97,500 is $3,300 higher than the 2006 amount, and the maximum ...
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2006-10-24
Congress has presented taxpayers with a mixed bag when it comes to tax planning for this year, according to CCH, a Wolters Kluwer business and a leading provider of tax information, software and services (CCHGroup.com). There are new opportunities to reduce taxes, but also new tax traps -- and new u...
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2006-10-18
A Danvers man was sentenced yesterday in federal court for filing false tax returns.
United States Attorney Michael J. Sullivan; Douglas A. Bricker, Special Agent in Charge of the U.S. Internal Revenue Service, Criminal Investigation in New England, and Colonel Mark Delaney, Superintendent of the...
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2006-10-17
A Pittsburgh man has been sentenced to 10 years of probation for failing to pay state sales tax collected from customers and employer withholding taxes collected from employees, Secretary of Revenue Gregory C. Fajt said today.
Ilcho "Lee" Yovanof, 52, former owner of Yovi's Little Bit of Chicago,...
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2006-10-17
(NewsUSA) - Given fluctuations in the market and changing tax law, there's nothing certain about the amount of taxes individuals will pay annually on their investments, but there are some choices investors can make to reduce their tax bill.
Just like fees vary from mutual fund to mutual fund, the...
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2006-10-12
A book titled "Why the Fair Tax is a Sham" has been published by Allen Buckley.
The book explains why the Fair Tax proposal, championed by Congressman John Linder of Georgia and radio talk show host Neal Boortz, would not work from a financial perspective. Also, deceptions and inaccuracies of The...
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2006-10-06
Individual charitable giving would rise nearly 15%, by $27.5 billion annually, if affluent income tax filers in forty-five states and the District of Columbia donated as high a proportion of their asset wealth to charity as do well-off filers in the most generous five states, concludes a landmark si...
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2006-09-27
Like a reflex reaction, it seems natural for people quickly to associate our dreaded annual income tax with the I.R.S. But a new book seeks to turn this focus instead on Congress. It is Congress, after all, who is responsible for whatever may be wrong or dreadful with the income tax since it was Con...
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2006-09-19
As the lazy days of summer draw to a close, Jackson Hewitt Tax Service(R), an industry leader providing full service individual federal and state income tax preparation, reminds homeowners that renovations, especially those that improve a home's energy- efficiency, may provide tax deductions and spe...
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2006-09-08
If you're like most parents, saving for your children's college education is a priority and a big challenge. Tuition and related costs at both public and private universities have been rising at 5% per year or more, far exceeding the rate of inflation. To put that into perspective, a child born in...
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2006-09-05
Pathfinder Business Strategies, LLC, a privately held company that advises corporations, consumers & small to mid size companies on asset protection, tax savings, & wealth building strategies, today announced that it has saved its clients over $10 million in taxes and legal fees through asset & enti...
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2006-09-01
The newest advantage of North Carolina's National College Savings Program is a state income tax deduction for contributions.
For tax year 2006, qualified taxpayers may deduct contributions to North Carolina's 529 plan of up to $750 for individuals or $1,500 for joint filers. In 2007, the deductio...
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2006-08-29
your retirement depends on it.
That’s because when it comes to your pension funds, you have several options open to you when you leave your job. And if you don’t know what those options are, and choose the wrong one, you will have the IRS smack dab in the middle of your IRA. This means your chan...
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2006-08-25
Super-wealthy families will win twice if estate tax repeal or reform eventually becomes law, according to Ashton Group CEO Stephen Wolff. Beyond the obvious tax savings, America's richest citizens would greatly benefit from selling off the multi-million dollar life insurance policies that they no lo...
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2006-08-24
Going school shopping? The Minnesota Department of Revenue reminds parents and guardians to keep cash register receipts and invoices. Purchases for your child's school needs might qualify for a tax credit or subtraction on your 2006 Minnesota income tax return.
The kindergarten through grade 12 e...
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2006-08-23
President Bush's signing of the much-anticipated landmark Pension Protection Act clears the way for new opportunities that could help employers maximize the benefits of their defined contribution retirement plan for their employees who are plan participants, reports the Transamerica Center for Retir...
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2006-08-17
Mortgage rates declined for the third week in a row and fifth time in the last six weeks, as the Federal Reserve held interest rates steady for the first meeting since May 2004. The average 30-year fixed rate mortgage fell to 6.57 percent, the lowest since April 19. According to Bankrate.com's weekl...
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2006-08-10
Massachusetts residents may be battling record breaking heat waves this month, but snowy weather and frigid lows are just around the corner. That's why Lowe's is encouraging residents to save money now during the state's tax-free holiday, August 12-13, by purchasing products for their home that can ...
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2006-08-10
John Hancock Retirement Plan Services (JHRPS) announced today that more than 1,600 401(K) plans have added the Roth contribution feature. JHRPS is seeing increasing interest and demand for this relatively new retirement savings program.
The Roth 401(K) feature is proving particularly attractive t...
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2006-08-10
The following is a statement by President Bush on the economy:
Fox Valley Metal-Tech
Green Bay, Wisconsin
11:29 A.M. CDT
THE PRESIDENT: John, thank you very much for your hospitality.
MR. WEST: You're welcome, Mr. President.
THE PRESIDENT: I understand that the small bus...
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2006-08-10
Perils of Failing to Roll a 401k into an IRA.
Have you heard about a “stretch IRA” and wondered if it was some special kind of IRA? Well, it isn’t. In the simplest terms, a stretch IRA is an IRA that has a beneficiary designation that provides for the possibility of maintaining the tax deferred s...
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2006-07-27
If your employer offers a matching contribution to your retirement plan, the cardinal rule is: contribute whatever the employer is willing to match—even if it is only a percentage of your contribution and not a dollar for dollar match.
Imagine depositing $1,000 of your money into the bank, but i...
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2006-07-20
Sales tax holidays are growing in popularity this year, according to CCH, a Wolters Kluwer business and a leading provider of tax information, software and services ( http://cchgroup.com/ ). At least thirteen states and the District of Columbia will waive their sales and use taxes for a limited tim...
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2006-07-20
An economic study released today by Americans for Secure Retirement (ASR) reveals that residents in over 50 percent of the largest counties in the United States are not prepared for retirement. These Americans, in 132 of the 250 largest counties across the country, face a high risk of not having eno...
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2006-07-13
The fiscal policies of the Bush administration have saddled Pennsylvanians with a debt burden of $8,876 per person over the past six years, according to a new study released today by the Washington, D.C.-based Citizens for Tax Justice (CTJ). The increased debt burden far exceeds the value of the tax...
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2006-06-29
Senator Kennedy (D-MA) announced today on the Senate floor his plan to raise the federal minimum wage to $7.25 an hour. The average family income of those who would benefit from the increase is $45,580 a year, according to research from the Employment Policies Institute [EPI].
U.S. Census Bureau ...
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2006-06-20
Governor Edward G. Rendell tonight said that the Pennsylvania Special Session on Property Taxes was a success after the House of Representatives passed Special Session House Bill 39. Governor Rendell called the Special Session last September after nearly two thirds of Pennsylvania homeowners were de...
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2006-06-14
New data just released by the Internal Revenue Service show that very few Pennsylvanians would benefit if the federal estate tax is repealed. Ninety-nine out of 100 Pennsylvania estates worth over $1 million paid no federal estate tax in 2004, according to data released on June. While there were 129...
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2006-06-08
The early months of 2006 have been uncomfortable ones for people who like to know in advance just how much they'll owe in taxes on this year's earnings, according to CCH, a Wolters Kluwer business and a leading provider of tax information, software and services ( http://cchgroup.com/ ). But while Co...
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2006-06-01
More than 2.7 million taxpayers, or nearly half of all individual taxpayers, filed their 2005 state personal income tax returns electronically this year, setting an all-time record for electronic filing.
"Each year, more and more taxpayers file their tax returns electronically," said Secretary of...
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2006-05-10
Today Americans for Secure Retirement (ASR) released a poll showing that more working Americans aged 50-70 years old (50%) are concerned about making their retirement savings last their lifetime than are concerned with saving enough for retirement (38%). The poll -- jointly conducted by Republican p...
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2006-05-04
Governor Edward G. Rendell said today Pennsylvania seniors may finally get significant property tax relief when House Bill 39 is passed by the state legislature. The Governor congratulated legislative conferees for reporting out a solid bill that represents a historic compromise and the largest prop...
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2006-05-01
Governor Edward G. Rendell today again called on the state Legislature to bring property tax relief to Pennsylvania's homeowners; this time during a visit to the Erie home of Lewis and Renee Minadeo.
Governor Rendell has visited the homes of many Pennsylvanians over the last several weeks to talk...
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2006-04-28
Jackson Hewitt Tax Service (NYSE:JTX) has over 6,000 locations open to help serve last minute filers across the country. And with less than 24 hours to go for some, the stress level is on the rise. The professionals at Jackson Hewitt offer some final day(s) advice:
* Relax ... The tax professio...
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2006-04-17
Many Post Offices across the country will stay open later on Monday, April 17, as the U.S. Postal Service readies itself for customers who will file their 2005 individual income tax returns by mail, Postal officials said today.
"While some people opt for alternative means of filing their tax retu...
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2006-04-15
With April 15 falling on a Saturday this year, Uncle Sam has extended Tax Day, making Monday, April 17, one of the busiest days of the year in post offices across the country. To provide a little Tax Day relief, KFC will feed Crispy KFC Snackers(TM) to the "fried" postal workers and "taxed" patrons ...
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2006-04-13
If you're one of the thousands of Texans who wait until the last minute to complete their tax returns, the Texas Society of Certified Publi