Weeks after European Union (EU) regulators ordered Fiat Chrysler and Starbucks Corp. to repay millions of dollars of “unfair” tax subsidies, McDonald’s Corp. now faces an EU investigation into its financial arrangements with the tiny […]
Tag: Taxes
Pfizer and Allergan Just Announced Plans To Create The World’s Largest Pharma Company
Major drug corporations Pfizer and Allergan have announced that they will merge to form the largest pharmaceutical company in the entire world. The merger still requires the approval from regulators, but assuming it goes through, […]
Congress May Pass New Law – Pay Your Taxes Or We’ll Take Your Passport!
If you don’t pay your taxes – you may have your passport revoked. That is the premise of a new law Congress seems likely to enact next month. The legislation also seeks to deny the […]
California’s Proposed $68 Billion High-Speed Rail Running Into Financial Hurdles
California’s plan to build the most expensive public-works project in the history of the United States has run into some financial hurdles. The proposed high-speed rail line linking Los Angeles with San Francisco needs private […]
Swiss Banks Disclose Their Secretive Techniques To Avoid Paying Fines
Swiss banks are starting to reveal how exactly they have been able to assist wealthy Americans in avoiding taxes thanks to a forgiveness program from the Justice Department. Such tactics used to be kept in […]
Investor Carl Icahn Is Outraged By Current Tax Laws
Carl Icahn is urging lawmakers in the United States to pass measures that encourage American corporations to return foreign profits to the United States. The measures would supposedly help the Internal Revenue Service, which according […]
Trump Says He Would Tax All Offshore American Profits
Donald Trump, Republican presidential ticket front-runner, has made proposals aimed at simplifying the U.S tax code, bringing down the rate of corporate tax and further imposing a one-time levy on earnings from overseas obtained from […]
Federal Officials Struggle To Sell Booby Trapped Property Of Anti-Taxers
Federal officials are having a difficult time selling a booby-trapped 100 acre property, complete with a fortress-like house, which they seized from a husband and wife duo of tax dodgers. Officials have been attempting to […]
China Becomes Latest Country To Accuse Apple Of Tax Avoidance
The Chinese Government has accused Apple of tax avoidance and accused the company deliberately underreported its sales revenues in the country. The timing of the announcement has been questioned by some China watchers who say […]
Bush Joins Trump In Proposing Tax Changes That Would Hurt The Wealthy
Presidential candidate Jeb Bush, in a seemingly radical departure from traditional conservative policy, is proposing a tax plan that removes provisions which benefit wealthy Americans. The plan eliminates a “carried interest” loophole that has been […]
New Study Finds New York’s High Cigarette Taxes Lead To More Smuggling And Less Tax Revenue
The City of New York has, over the years, cracked down on the illegal tax evading cigarette market through a contingent of strict regulations. However, fraudulent sellers have found innovative ways of beating the system, […]
Trump Spills Details On Economic Policies Including More Taxes On The Rich And Less On Businesses
Although Donald Trump has yet to reveal any real policies on anything other than immigration, the Republican party’s front-running presidential nominee gave reporters an insight into his economic vision for the U.S. which contained somewhat […]
Entertainment Giant Disney Pressures City To Extend Tax Free Status
While the Anaheim City Council charges many small entertainment providers an admission tax, the owners of the city’s “happiest place on Earth”, which provides the area with 28,000 jobs, have asked for a 30 year […]
Controversial Chicago ‘Cloud Tax’ Could Bring $12 Million Per Year To City
A City of Chicago ruling which expanded its ‘amusement tax’, better known as the ‘cloud tax’ and which went into effect this month, is expected to boost the city’s coffers by $12 million annually. The […]
IRS Urged to Investigate Walmart’s Use Of Overseas Tax Havens
Walmart has used foreign tax havens to shelter $76 billion in assets avoiding having to pay $3.5 billion in income tax over the last six years according to a Americans for Tax Fairness report. The […]
Amazon, Google, Facebook Snub European Commission Officials On Taxes
Big tech companies are known to be global tax evaders, using an elaborate corporate structures to pay virtually no tax. We’ve covered the practice here and here, yet there’s more action on this issue in […]
Latest Amazon Disclosure Shows Just How Little Tax Big Tech Companies Actually Pay
While main street Americans pay record tax levels on personal income, property and via sales taxes, big tech companies with armies of lawyers and tax accountants continue to cheat the system, according to the latest […]
Kansas Announces Devious New Tax On The Poor
Kansas Gov. Sam Brownback isn’t very popular with low income voters. He’s set to continue that unpopularity due to a stealthy new tax on the poor. Legislators in the state have decided they will now […]
Complex Tax Laws Lead Americans To Give Up Passports
New data released by the U.S. government yesterday shows that a record 1,337 Americans gave up their passports in the first three months of the year. That number is nearly 40% of the 3,415 Americans […]
Greece To Join Australia In Taxing Cash As Soon As Next Week
In what looks to become a trend, reports emerged today that Greece is finalizing capital controls that will take the form of a tax on withdrawals. The country is also considering a ‘ceiling’ on the […]
Billionaire Hedge Fund Manager Soros Dodged $7 billion In Taxes
It’s well known that the rich tend play play by a different set of rules than the rest of us. Case in point: George Soros, who may soon decide to pay a monumental tax bill […]