Property values down, property taxes up. That’s a recipe for trouble: It means your tax rate, as a percent of your home’s value, is going up doubly fast. It’s a cloud that hangs over the real estate market in large swaths of the country, mostly in the Northeast, where property taxes [...]
William Baldwin, Forbes Staff
Kelly Phillips Erb, Contributor
Leonard Burman, Contributor
The 400 highest-income Americans reaped a stunning 13.1% of net capital gains reported to the Internal Revenue Service for 2008, a year which ended with the Dow Jones Industrial Average down 33.8%, the S&P 500 index down 38.5% and the NASDAQ composite off 40.5%. read »
The mayor of Providence, Rhode Island, Mayor Angel Taveras, made national headlines last week when details emerged about his plan to tax nine tax-exempt hospitals, colleges and universities in an effort to raise revenue. If the tax stands, the city could collect millions from previously untapped sources. read »
ING Direct USA's Arkadi Kuhlmann can attract customers. The hard part is keeping their data safe.
Troubled Sears wants state and local tax subsidies read »
As I noted here, the Tax Court is telling the IRS loud and clear to stop being stingy with innocent spouse relief. Everyday, it appears the Tax Court is taking its scalpel to the IRS’s arguments. Finally, the IRS is listening. read »
Want to know why caps on federal spending will never work? Just take a look at the proposed Medicare vouchers that are included in the House-passed 2012 budget framework. Faced with an arbitrary ceiling on spending, a determined Congress could easily turn those subsidies into tax credits. They’d be exempt from spending limits but still add billions of dollars to the deficit. read »
Arkadi Kuhlmann on creating a new banking experience for consumers.
Innocent spouse relief is a hot topic in the tax world. With the vast majority of married couples filing tax returns jointly, some spouses are bound to run off, lie about off-the-books income, wind up in tax trouble, or otherwise leave their spouse holding the bag. A joint tax return means each spouse is 100% liable despite those appealing facts. In fact, the IRS is almost certain to come along expecting to be paid. See Consider Tax Filing Status Carefully. read »
Exxon Mobil probably didn’t expect its phenomenal first quarter earnings figures to end up raising questions from the general public all the way to the White House. read »
