Early last week, the drug firm Mylan stomped on the Stars and Stripes as it ditched America for the Netherlands. Then, on Friday, the drug company AbbVie similarly renounced America. For 30 pieces of silver, it will become Irish.
When the annual reckoning with the IRS rolls around, their willingness to help out entitles them to write-offs for unreimbursed expenses incurred while they do volunteer work for rescue groups like the Humane Society of the U.S and the ASPCA.
The courts often have to resolve the troublesome question of whether a tax-free "gift" was actually a payment for services rendered. Not surprisingly, the question has come up when the IRS insisted on its share of sizable amounts received by women from men who weren't their husbands.
We hear so much these day about banks and companies that have become so large they are unable to manage themselves -- that there are so many layers of bureaucracy that illegal and unethical behavior can go undetected for years.
Gov. Christie and his treasurer are standing firm. They say there will be no tax increases to help New Jersey out of its budget crisis. Why? Because, they claim, the wealthiest New Jerseyans may well "get up and walk out" of the state instead of face a tax increase.
No one really enjoys taxes, but they're necessary to help pay for the government services we receive. That's why Chicago mayor Rahm Emanuel has pitched a potential property tax increase to help the city make up the pension deficit it currently is facing.
We keep hearing that if corporations have to pay more taxes, the economy will suffer, because they won't hire more workers. Well, if you hadn't noticed, for the last five years they've hardly been on a hiring spree.
There's just something about doing our taxes that makes many of us revert to slacker college student mode, waiting till the last minute to throw together that report we've known about for months. But there is hope.
With tax season upon us, taxpayers are not the only ones preparing for tax filing day. The Internal Revenue Service warns consumers that there are sophisticated scams targeting taxpayers throughout the country.
Using information released by the White House and the per capita personal income of $42,693 (according to Bureau of Business and Economic Research), GOBankingRates calculated how the average American's 2013 federal income tax bill breaks down.
The progressive tax versus flat tax debate is raging on -- if Illinois moves towards a progressive tax system, where taxes vary based on income, counties with higher median incomes will probably have a lot to say.
Thomas Piketty's new book on the history and future of capitalism is a bold attempt to pick up where Marx left off and correct what he got wrong. While there is much that is useful in this lengthy and well-written book, it owes too much to the master, and not in a good way.