IRS introduces income tax software for taxpayers Nov 21, 2009
tax software to assist taxpayers to properly file correct monthly income tax returns, Mr James ... He said some taxpayers had difficulty in completing income tax retur= ns forms and this ... machinery in optimizing revenue from the income tax, increase quality of service to taxpayers by. (Ghana Web, Ghana)
Sin City Heats up Battle for Businesses Nov 21, 2009
Nevada has no corporate income tax, no personal income tax, and no business inventory tax. That got Paul Allen's attention. (CBS News)
Zimbabwe: Revitalise Role of Parly [editorial] Nov 21, 2009
His list included the National Information Communication Technology Bill; the Human Rights Commission Bill, and amendments to the Income Tax Act, National Incomes and Pricing Commission Act, Railways Act, the Education Act, among others. The President mentioned a number of Bills that were never tabled during the last session as promised including the Energy Laws Amendment Bill; the Small and Medium Enterprise Bill; the Zimbabwe Construction Industry Council Bill and the Older Persons Bill. (allAfrica.com)
Senate vote next step on health bill road Nov 21, 2009
4 percent income tax surcharge. The Senate measure also trims entitlement programs such as Medicare and Medicaid. (CNN)
Public-sector finances: The state's take Nov 21, 2009
Ireland has raised its top income tax rate from 41% to 46 ... Anglo-Saxon economies tend to rely most on income taxes (on wages, profits and capital gains) ... In theory, expenditure taxes are better than income taxes, since they do not punish saving. (The Economist)
Former Wichita pharmacy manager takes plea Nov 21, 2009
On his federal income tax return for 2006 he failed to report more than $64,000 in income from the thefts. Halfman was ordered to pay $21,617 in restitution and to cooperate with the IRS regarding any past or present tax liability. (Wichita Business Journal, KS)
Revenue forecast puts budget gap at $2.6 billion through mid-2011 Nov 20, 2009
CRfisherman wrote on Nov 19, 2009 12:05 PM:" How about cutting some more of the stupid programs that are funded around this state. But it's always the dumocrats way...raise taxes. A state income tax is coming...get ready. ". playcool wrote on Nov 19, 2009 3:54 PM:" Hey! Has anyone missed any of the services they cut last time? They don't have the big federal government stimulus teat to suck on this time so the progressive liberal democrats (socialists) want to raise taxes. This is simple math... (Longview Daily News, WA)
* Cabinet approves amendments to business taxes Nov 20, 2009
The Cabinet also approved an amendment that will allow shipping companies to use tonnage tax as an alternative to business income tax. The amendment, subject to approval by the legislature, would allow shipping firms to choose to have their income taxed similar to companies in other sectors or to use tonnage as the basis for calculating annual taxable income ... Both methods will be subject to the business income tax rate, which will be reduced to 20 percent from the current 25 percent next... (Taipei Times, Taiwan -- World)
More homebuyers can enjoy tax credit Nov 20, 2009
Your real estate agent isnt returning your calls, your bank wants your income tax returns for the last 15 years, and youre getting some weird vibes from the people who live next door to the house youre trying to buy. These home-buying potholes wont prevent you from taking advantage of the $8,000 first-time homebuyers credit, so relax. (The News-Press -- Business)
America's fiscal deficit: Stemming the tide Nov 20, 2009
America depends inordinately on payroll and income taxes, on both people and corporations (see chart 2 and ) ... That complexity is magnified by the alternative minimum tax (AMT), a parallel income tax aimed at the wealthy that must be fixed each year to avoid ensnaring more of the middle class ... The second type of tax reform would replace or supplement the income tax with a broad tax on consumption. (The Economist)
Previous health care column exaggerates health care proposal Nov 20, 2009
Section 7201 is a section of the Internal Revenue Code which establishes a penalty of up to a $100,000 fine and up to 5 years in jail for evasion of income tax ... 5% increase on the income tax of anyone who still pays tax after all exemptions, and does not amend the existing penalty for nonpayment in any way. (Daily Orange, NY)
Koda to be arrested, if he skips questioning: ED Nov 20, 2009
Koda, according to sources, was to be questioned on the basis of documents seized during the nationwide Income Tax searches on him and his associates, which began on October 31. The ED also wanted to grill Koda on the statements of his business partner Vikash Sinha, arrested by the Directorate and presently in judicial custody. (India Times, India -- Community News)
Click to read:14 Percent of U.S. Homeowners In Peril Nov 20, 2009
14 Percent of U.S. Homeowners In Peril - CBS News. WASHINGTON, Nov. 19, 2009. (CBS News)
Click to read:Student Fee Hike Fuels Mass UCLA Protest Nov 20, 2009
Thats why we have a graduated income tax man. by m7two November 19, 2009 6:54 PM EST. (CBS News)
Pa. taxes called among most regressive Nov 20, 2009
2 percent in state and local income taxes, the middle income 9 ... No one would ever design an income tax with lower tax rates for the best-off taxpayers," Matthew Gardner, ITEP's executive director and lead author of the study, said. "But that is exactly what Pennsylvania's tax system overall does: It allows the very wealthiest individuals to contribute less of their income, on average, than middle- and lower-income families must pay. (Philadelphia Business Journal, PA)
Eliot mother wants to be 'Biggest Loser' Nov 20, 2009
" she said with a laugh. to help Angela Boyle has a group page on Facebook with information on how to contact the producers to support her bid to become a contestant in Season 10 of "The Biggest Loser. " It's called "Angela Boyle The Seacoast's Next Biggest Loser. (Seacoast New Hampshire)
Gem state schools face cuts, agencies may be eliminated Nov 20, 2009
Speaking Wednesday at the Associated Taxpayers of Idaho annual conference in Boise, Gov. C.L. Butch Otter ruled out an income tax increase, including a hike on those earning more than $50,000 suggested last week by a minority Democrat. Those who are successful ought to be celebrated and rewarded, Otter told lobbyists and politicians. (Ontario Argus Observer, OR)
Leak fuels fears over India's ID project Nov 20, 2009
Other government-acceptable identity cards in India include the Permanent Account Number, or PAN, card used for income tax; voter ID; ration cards; driving licenses and passports. However, unlike the UID number, none of those keep a lifetime track-record of transactions. (Asia Times Online)
Wrong maps from I-T laptops erased Nov 20, 2009
"{In some laptops, they have already removed it. In the next few days, the entire exercise should be over," an income tax official said. China-headquartered Lenovo had supplied 2,500 laptops to the department in mid-February. (India Times)
Business briefs Nov 20, 2009
The Internal Revenue Service has awarded nearly $8 million in matching grants to support its Volunteer Income Tax Assistance program, including a $25,000 grant to the United Way of Volusia-Flagler Counties. Under the VITA Grant Program, the IRS awarded matching grants to 147 organizations that will offer free tax preparation services during the 2010 filing season. (Daytona Beach News Journal -- Business)
Is it better to spend money on schools, or on keeping criminals in prison longer? Nov 20, 2009
The downturn in the economy means there is less income tax revenue available to do all of the things Oregonians say they want, including longer prison sentences. The Legislature decided that prisoners could get more credit for good behavior in prison, which means they can be released early. (Klamath Falls Herald & News, OR)
Top Eurobank prepares for 'global economic collapse'... Nov 20, 2009
I think that my government (USA) should suspend the Personal Income Tax and drastically reduce spending. Anyone agree with me. (The Drudge Report)
One Exploration Inc. announces 2009 3rd quarter results, property disposition and updated banking arrangements Nov 19, 2009
NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES (Canada Newswire)
Home loans: Joint ownership helps Nov 19, 2009
Also, an individual can claim a deduction up to Rs 100,000 for re-payment of the principal amount U/S 80C of the Income Tax Act, 1961. Joint benefits. (India Times)
More fall behind in state taxes Nov 19, 2009
At the same time California is trying to speed up income tax revenue, people who owe the state taxes are paying more slowly ... Starting Nov. 1, employers in California were required to withhold an additional 10 percent from employee paychecks for state income taxes ... Another part of this plan requires people who make estimated state income tax payments to pay a larger portion earlier in the year, starting in January. (San Francisco Chronicle -- Business)
PennantPark Investment Corporation Announces Financial Results for Quarter and Year Ended September 30, 2009 Nov 19, 2009
00 ============ ============ PENNANTPARK INVESTMENT CORPORATION STATEMENTS OF OPERATIONS (Audited) Year ended Year ended September 30, September 30, 2009 2008 ------------ ------------ Investment income: From non-controlled, non-affiliated investments: Interest $ 43,555,240 $ 38,149,813 Dividends -- -- Other 212,304 255,944 From non-controlled, affiliated investments: Interest 1,351,227 1,405,205 ------------ ------------ Total investment income 45,118,771 39,810,962 ------------ ------------... (Primezone Releases)
Hearing resumes Dec. 1 on Braintree policy urging hiring local workers Nov 19, 2009
Classify employees as employees, rather than independent contractors, and treat them accordingly for purposes of workers compensation insurance coverage, unemployment taxes, Social Security taxes, and income tax withholding. Certify that all employees at the worksite have successfully completed a course in construction safety and health approved by the U. S. Occupational Safety and Health Administration that is at least 10 hours in duration at the time the employee begins work. (Braintree Forum, MA)
Tax looms locally Nov 19, 2009
The borough's two major sources of revenue are income taxes and property taxes, Filippelli said. These taxes don't bring in as much money as they do in other cities because 74 percent of residents are students who pay little or no income tax, he said. (Daily Collegian, PA)
Report: Georgias tax system hits poorest Nov 19, 2009
Narrow income tax brackets mean the majority of taxpayers pay top income tax rate, the report noted about Georgia s tax system. It also said the state fails to index income tax provisions to inflation ... But the report also lauded Georgia for using a graduated income tax structure, providing a refundable low-income tax credit and excluding groceries from sales tax. (Atlanta Business Chronicle, GA)
Think tank ranks Pa. tax structure low Nov 19, 2009
The said Pennsylvania has a "regressive" income tax, and Keystone State families in the bottom 20 percent of the income scale pay six times more of their income in state and local taxes than those in the top 1 percent ... Pennsylvania income tax has a single rate or flat structure, and the state fails to use combined reporting as part of its corporate income tax, the organization noted. (Pittsburgh Business Times, PA)
Reid: Finish line on health care is finally in sight' Nov 19, 2009
Neither provision is in the House bill, which would instead impose an income tax surcharge on the wealthy. currentstory = 1716320 thisstory = 1711575 currentstory = 1716320 thisstory = 1711574 currentstory = 1716320 thisstory = 1711562 currentstory = 1716320 thisstory = 1711463 currentstory = 1716320 thisstory = 1711116 currentstory = 1716320 thisstory = 1710737 currentstory = 1716320 thisstory = 1710762 currentstory = 1716320 thisstory = 1710761 currentstory = 1716320 thisstory = 1710608... (Fresno Bee -- Local)
Senate unveils $849B health care bill Nov 19, 2009
4 income tax surcharge on individuals making more than $500,000 and couples earning more than $1 million. Both bills have the public option, but the Senate version allows states to opt out before the national program would go into effect in 2014. (CNN)
Senate health bill sets up historic debate Nov 19, 2009
The House bill contains neither of those two provisions, relying on an income tax surcharge on the wealthy to finance the bill. Reid's measure also calls for hundreds of billions of dollars in cuts in future Medicare spending, an attempt to satisfy Obama's call to curtail the growth of health care spending that is fiercely opposed by Republicans. (San Diego Union-Tribune)
Council Resolution Opposes Subsidized Housing Projects Nov 19, 2009
The action was in response to an application by a Springfield, Mo. firm to seek tax credits through the Missouri Housing Development Commission to finance a 48-unit apartment complex on property south of the Phoenix Center II shopping center and north of Stone Crest Subdivision. (Missourian Publishing, MO)
Lawmakers deadlocked again on budget fix Nov 19, 2009
8 percent in planned income tax reductions and would take money from housing programs for the poor. It would also open Salt Fork State Park to oil and gas drilling and use part of the license fees to be paid by casinos. (FOX19.com, OH)
Koda's net assets worth nearly Rs 1cr Nov 19, 2009
The Enforcement Directorate and the income tax department over the past few days have unearthed Koda's alleged involvement in hawala transactions and illegal investments running into more than Rs 2,000 crore. It is also alleged that some companies in which Koda and his eight associates had invested the money were actually a front for Naxal groups. (India Times, India -- Community News)
10 percent of video poker players produce 53 percent of money lost Nov 19, 2009
Kevin wrote on Nov 17, 2009 5:32 PM:" The state is being inventive as far as revenue goes, video poker and other lottery games create a lot of revenue, both for the state and for the retailers of the games. They also get a large amount of money from other sources too; Gas pumps, alcohol and tobacco taxes, licensing fees, auto registration fees.The biggest source of income for the state is, unfortunately, actual legalized robbery. Income tax is a far more insidious thing than video poker, because... (Klamath Falls Herald & News, OR)
A riddle, wrapped in a mystery, inside a farce Nov 19, 2009
Instead, the Tax Office believes TPG was liable to pay regular income tax on the sale of its shares - and that is why the private equity industry is reeling ... So it attracts income tax at 30 per cent. ... Income tax can be paid in Australia, but foreign companies that are based in a country that has a bilateral tax treaty with Australia can pay tax in that country. (Sydney Morning Herald -- Business)
Limited's profit on the upswing Nov 19, 2009
Factoring in a one-time income tax benefit of $8. 8 million, the company earned $14. (Columbus Business First, OH)
McGuinty Government Tables HST Legi... Nov 18, 2009
Manufacturers that currently pay 12% income tax would see their rate cut to 10% effective July 1st, 2010 ... Wilkinson in the same article applauded his own government saying; as of January 1st, 2010 Ontario will have the lowest personal income tax of any province. (Suite101.com)
10 percent of video poker players produce 53 percent of money lost Nov 18, 2009
Kevin wrote on Nov 17, 2009 5:32 PM:" The state is being inventive as far as revenue goes, video poker and other lottery games create a lot of revenue, both for the state and for the retailers of the games. They also get a large amount of money from other sources too; Gas pumps, alcohol and tobacco taxes, licensing fees, auto registration fees.The biggest source of income for the state is, unfortunately, actual legalized robbery. Income tax is a far more insidious thing than video poker, because... (Klamath Falls Herald & News, OR)
Eleanor W. Swindell1932 20099 (3) Nov 18, 2009
She worked as a secretary with the Soil Conservation office for 22 years and prepared income tax forms from her home for many years. She was a member of the Swan Quarter Baptist Church. (Washington Daily News, NC)
McLean Co. property owners could see tax increases despite smaller budget Nov 18, 2009
Over the summer the county waited on payments from the state that included $400,000 for the health department, $400,000 for its share of state income tax revenue and $170,000 from the wireless telephone surcharge. A recent check for $500,000 from the state has helped, but the state is still behind. (The Pantagraph newspaper)
Forum discusses fixing state budget Nov 18, 2009
It showed that sales and income taxes make up a bigger share of the state budget today than they did in the 1980s ... The state income tax also grew modestly as a share of state collections, to 37 percent today from 34 percent in 1980, according to the analysis by consultant Alan Maguire. (AZCentral -- News)
Valley cities competing for 100K-square-foot Suntech facility Nov 18, 2009
Suntech could get part of a 10 percent income tax credit, providing the jobs it creates meet the program s criteria. All told, if the Chinese manufacturer doubles its investment, it could get more than $1 million in incentives, Broome said. (Phoenix Business Journal, AZ)
Oversight board rejects Ravenstahl's budget Nov 18, 2009
"His only other options are serious service cuts, a property tax increase, or an income tax increase.". Ravenstahl told the ICA Tuesday morning that, "doing nothing is not an option and will only put us on track to go right back to where we were in 2004.". (Pittsburgh Business Times, PA)
Gregoire won't call special session Nov 18, 2009
fossagrimmin wrote on Nov 17, 2009 4:48 PM:" Awww whats the tax queen gonna do,,umm ill bet she is gonna open the door again to a state income tax. Tax Tax Tax the queen is marching. " ... Tortoise wrote on Nov 17, 2009 6:52 PM:" Washington is one of only a handful of states that does not have income tax, so you know it's coming. ". (Longview Daily News, WA)
CMS Bancorp, Inc. Announces Improvement in Financial Performance for the Year Ended September 30, 2009 and Continued Growth in Assets Nov 18, 2009
CMS Bancorp, Inc. CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited, In thousands) September 30, September 30, 2009 2008 ------------ ------------ ASSETS ------ Cash and cash equivalents $7,304 $5,402 Securities 58,643 10,370 Loans, net 169,293 181,133 Other assets 7,924 7,025 ------------ ------------ Total assets $243,164 $203,930 ============ ============ LIABILITIES AND STOCKHOLDERS' EQUITY ------------------------------------ Deposits $184,387 $128,757 Borrowed money... (Primezone Releases)
Tax rich, poll respondents say Nov 18, 2009
4 percent income tax surcharge on individuals making more than $500,000 a year and households making more than $1 million. The poll also tested views on a taxation scheme that was under consideration earlier, when the tax would have hit people making more than $250,000 a year. (The Augusta Chronicle)
Free Money For College From the Hop... Nov 18, 2009
When applying for any of these tax credits, they will be reflected upon next year's FAFSA financial aid application as part of the income tax information. Although these credits reduce the amount of financial aid available, for most it means incurring less which makes up a large portion of most students' financial aid packages. (Suite101.com)
Carter owes $1 mil Nov 18, 2009
Professional auto racer Helio Castroneves, who won the fifth season in 2007, was accused of income tax evasion (and was eventually acquitted on all six counts) ... Professional auto racer Helio Castroneves, who won the fifth season in 2007, was accused of income tax evasion (and was eventually acquitted on all six counts). (New York Post -- Entertainment)
Goldeye Explorations Limited Closes Another Financing With MineralFields Group Nov 18, 2009
The proceeds of this offering will be used for mineral exploration on Goldeye's Ontario mineral properties qualifying as Canadian Exploration Expense (CEE) under the Income Tax Act (Canada) enabling the subscriber to obtain applicable tax credits and deductions. 2,400 meters of the 3,000-meter drill program that commenced in early October on Goldeye's Tyrrell Township property have been completed on the Big Dome gold zone. (CCNMatthews Press Releases)
CPAs recommend long-term budget fixes Nov 18, 2009
Strickland in late September recommended postponing the final year of a cut in the state s personal income tax to plug the budget gap, a proposal that has secured approval in the Democrat-controlled House of Representatives and awaits a vote in the Republican-controlled Senate. The task force in its report said delaying that cut for two years is likely the least painful and easiest to implement. (Columbus Business First, OH)
Budget agony Nov 18, 2009
Happycamper wrote on Nov 17, 2009 12:34 AM:" The sad part of all this budget deficits pertaining to our schools is that we the people have been duped when it comes to funding for our schools. As I recall, in 1984 we the citizens of California passed the initiative to even have a state lottery with the sole purpose that it was going to provide additional funding for our schools. Our schools win was the slogan by the Government supporters who concocted this lottery idea. As usual we've all... (Big Bear Grizzly, CA)
US wealthy should pay for health care overhaul, poll finds Nov 18, 2009
4 percent income tax surcharge on individuals making more than $500,000 a year and households making more than $1 million. The poll tested views on an even more punitive taxation scheme that was under consideration earlier, when the tax would have hit people making more than $250,000 a year. (Boston Globe)
Alaska fights to reverse federal polar bear listing Nov 18, 2009
The trans-Alaska pipeline is running at less than one-third capacity and only high oil prices and a new method of taxing oil production have kept Alaska from slashing government services or looking for other revenue sources, such as a state income tax. In a decade or so, offshore gas production could be crucial for a new large-diameter pipeline, a project for which Parnell's revenue commissioner says there is no future alternative. (Juneau Empire)
Merkel's Coalition Backs $30 Billion in Tax Cuts From 2011, Debt Reduction Nov 18, 2009
The current progressive system of income tax will be switched to a graduated one, he said, without giving more details. To contact the reporter on this story: in Berlin at. (Bloomberg -- Germany)
Mayor: Cut services or figure out funding Nov 18, 2009
One of the ways local government services can be funded is through a Local Option Income Tax (LOIT) or a wheel tax, which would have to be implemented by the county council. The state government has put this option in place for county governments as a method of shifting the funding burden from property taxes. (Hartford City News-Times, IN)
Small cities push for direct tax Nov 18, 2009
One possible reason for this is the split of direct taxes between corporate tax and personal income tax. The direct tax collections, in general, remained robust in cities where personal income tax has a higher share in the overall corporate taxes ... Kanpur, for instance, has tax collections evenly split between corporate and personal income tax (PIT). (India Times)
The haves should help the have-nots Nov 18, 2009
" Observer wrote on Nov 17, 2009 6:46 AM:" I have always believed that under the current income tax structure the "haves" have been helping the "have nots". And Leonard, I agree with your remarks about the "Kool-Aid" references. (Lodi News Sentinel, CA)
Your views: Letters to the editor (Nov. 18) Nov 18, 2009
I just read Tuesdays FLORIDA TODAY article reporting that millions of people may have to repay the stimulus tax credit monies no one wanted at income tax time. Some never wanted bigger paychecks or the $250 for seniors and fought against adding it to our national debt. (Florida Today)
State agencies buckle down for budget cuts Nov 18, 2009
Those spending plans were passed amid emotional debate about whether to impose a state income tax, an effort that ultimately failed ... Back in the income tax days of 01 and 02, people thought there was a contrived crisis, Ramsey said. (Columbia Daily Herald, TN)
Overly Generous Gov't May Bite Taxpayers Nov 17, 2009
The Bush tax cuts were quite big for lower income and middle income taxpayers - despite common misunderstandings that they were only for the wealthy. The wealthiest 5% pay more than 70% of all income tax revenue - perhaps more ... In fact 2009 projections are that 47% or taxpayers will not pay a single dime in income taxes. (CBS News)
UAB wants $34 million for Southside campus upgrades Nov 17, 2009
Dropping sales and income tax revenue could further pinch 2010 and 2011 budgets. Facing such dire economic realities, Sen. (Birmingham Business Journal, AL)
Health Care Reform: More Taxes on the WayTaxes will increase under health reform bills. Nov 17, 2009
4 percent income tax on individuals making more than $500,000 and joint filers making more than $1 million. The top income tax rate is 35 percent. (ABC News -- Business)
