Government taxation and revenue
Ohio fair-housing lawyer admits guilt in tax case
A fair-housing advocate in Cleveland has pleaded guilty to ducking taxes on $500,000 in income and keeping $80,000 in federal taxes withheld from employees. Sixty-two-year-old Edward Kramer, the longtime director of Housing Advocates Inc., pleaded guilty Wednesday in Cleveland federal court to 10 counts. The government says he underreported income ...
US budget deficit widens $139 billion in May
The government reported Wednesday that the U.S. budget deficit widened in May by $139 billion. But the annual deficit stayed on track to finish below $1 trillion for the first time since 2008. Steady economic growth and higher tax rates have boosted the government's tax revenue. At the same time, ...
Texas Gov. Perry , NY Gov. Cuomo spar over jobs
The battle of Texas swagger against New York attitude is on. First, Republican Texas Gov. Rick Perry scoffed at New York's CEO-baiting slogan of a "new New York," saying it looks like the same old high-tax state to him. Then Democrat Gov. Andrew Cuomo shot back by saying at least ...
Brown plan gives big money to close education gap
California schools will receive an infusion of more than $3.6 billion in extra money this year, much of it targeted to the neediest students as part of a redistribution plan pushed by Gov. Jerry Brown. The Democratic governor hopes that dramatically reshaping how state aid is handed out will correct ...
Mich. may add checkoff funds to income tax forms
Michigan residents could contribute to funds aimed at fighting Alzheimer's and Lou Gehrig's disease through their income tax returns under legislation nearing final approval in Lansing. Bills passed Wednesday by the Senate already have passed the House. They are expected to win final passage Thursday. Money in one new checkoff ...
Tax credits for filmmakers become Nevada law
Gov. Brian Sandoval's signature Tuesday means filmmakers now have more reasons than the rugged mountains and fabulous Las Vegas to shoot their movies in Nevada. The Republican signed the bill granting transferrable tax credits to major filmmakers in an effort to bring a new industry to the Silver State along ...
Montana, Blixseth to face off in $57M tax dispute
Montana tax authorities and former billionaire Tim Blixseth will meet in federal court as the luxury real estate mogul tries to fend off an attempt by the state to recover what it calls $57 million in back taxes. U.S. Bankruptcy Judge Bruce Markell in Las Vegas will decide if the ...
Swiss upper house backs bill to end US tax spat
Swiss lawmakers have pushed forward a government-backed bill aimed at ending a long-running dispute with the United States over tax evasion. Switzerland's upper house voted 24-15, with two abstentions, in favor of a bill presented by Finance Minister Eveline Widmer-Schlumpf as a way to allow Swiss banks to cooperate with ...
Jindal backs limits on alternative fuel tax credit
Gov. Bobby Jindal has signed into law a rewrite of the state's alternative fuel vehicle tax credit program. Baton Rouge Sen. Dan Claitor submitted the bill, addressing concerns that the program could be interpreted in a way that would balloon its costs. Provisions in the bill match regulations already adopted ...
Democrats hope for higher revenue, more spending
The budget compromise between Gov. Jerry Brown and the Legislature's Democratic leaders largely mirrors the governor's proposal for a fiscally restrained spending plan that assumes conservative revenue projections. But there's a catch: Rank-and-file Democratic lawmakers say they are agreeing to less spending than they wanted so they could pass the ...
A look at the NJ candidates for US Senate
A look at the candidates who are running to represent New Jersey in the U.S. Senate in a special election. The primaries are scheduled for Aug. 13 and the general election for Oct. 16. __ THE DEMOCRATS __ CORY BOOKER Newark Mayor Booker has built a national following through speeches ...
Legislative leaders says state budget deal is near
Gov. Jerry Brown and the Legislature's Democratic leaders moved close to a state budget deal Monday that is expected to revamp education funding and begin restoring some of the social services cut during the recession. Senate President Pro Tem Darrell Steinberg emerged from a meeting with the governor and Assembly ...
New Hawaii law raises tax credits for filmmakers
Hawaii Gov. Neil Abercrombie has signed a law increasing tax credits for filmmakers to help expand the state's movie industry. The law, which will goes into effect next month, extends film tax credits until 2019 and boosts them from 20 to 25 percent in counties with fewer than 700,000 people. ...
NM contractor sentenced on tax evasion conviction
A 60-year-old Albuquerque woman who worked as an environmental compliance contractor for the state of New Mexico has been sentenced on a conviction for evading federal taxes The U.S. Attorney's Office says Shelda Sutton-Mendoza was sentenced Monday to 10 months of home confident with electronic monitoring and then three years ...
States look to tax hybrids to recoup road funding
North Carolina is joining a growing number of states exploring new fees for hybrid and electric car owners to help make up for revenue those drivers aren't paying in gas taxes on their fuel-efficient vehicles. The proposal strikes many owners of alternative-fuel vehicles and some advocacy groups as a wrong-headed ...
Analysis: Fees would rise under Mo. legislation
Tax cuts were a top priority this year for a supermajority of Republican lawmakers who wanted to let Missouri families and businesses keep more of their hard-earned money. Yet those same lawmakers who passed a $700 million income tax cut also authorized numerous little-known fee increases that ultimately could cost ...
IRS names new official as investigations continue
The Internal Revenue Service has named a new official to help oversee the workers who process applications from groups seeking tax-exempt status. Until now that post has been held by Holly Paz. Her name has surfaced in the investigations into IRS mistreatment of conservative groups seeking a tax-exempt designation. An ...
IRS official apologizes for lavish $4M conference
An Internal Revenue Service official whose division staged a lavish $4.1 million training conference and who starred as Mr. Spock in a "Star Trek" parody shown at the 2010 gathering conceded to Congress on Thursday that taxpayer dollars were wasted in the episode. "We're now in a very different environment" ...
IRS officials face grilling over lavish spending
Internal Revenue Service officials can expect a grilling when they face lawmakers over the latest controversy to rock the agency: lavish spending at employee conferences. The IRS, however, is planning a robust defense at a congressional hearing Thursday. The agency has already imposed strict regulations to prevent expensive conferences in ...
Former OH state employee accused in tax scheme
A federal indictment charges a former Ohio Bureau of Workers' Compensation employee and another person with claiming more than $8 million in fraudulent tax refunds. The indictment unsealed Wednesday accuses Don Gooch and Gerald Scott of creating a phony trust, and then falsely reporting to the IRS that the trust ...
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