NewsCloud.com Taxes News

Cindy McCain Pays Back Taxes on San Diego Condo

Via

: When you're poor, it can be hard to pay the bills. When you're rich, it's hard to keep track of all the bills that need paying. It's a lesson Cindy McCain learned the hard way when NEWSWEEK raised questions about an overdue property-tax bill on a La Jolla, Calif., property owned by a trust that she oversees. Mrs. McCain is a beer heiress with an estimated $100 million fortune and, along with her husband, she owns at least seven properties, including condos in California and Arizona.

Sharpton owes $1.5 million in back taxes

Over the past year, Sharpton's lawyers and the staff of his nonprofit group, the National Action Network, have been negotiating with the federal government over the size of his debt, which they dispute. The group has also been trying to pay off tens of thousands of dollars it owes for failing to properly maintain workers compensation and unemployment insurance.

Creative Weblogging - an error has occured

US prosecutors want to send actor Wesley Snipes to jail for three years for tax evasion

Microsoft Told to Pay Tax on Licence Fee (in India, not Washington)

The company, which sells its software in India through a circuitous route involving several group companies, had maintained that its deal with the customers is a sale and no royalty payment is involved. It is this position that has now been rejected. What nailed the issue, however, was an expression in the end-user agreement that says "the product is licensed, not sold". Tax authorities cited this and said if the software is licensed, there has to be a royalty involved.

A fistful of dollars: the CEO tax dodge

US CEOs are using investors to pay their tax.

Taxing Nicholas Cage

Move over Wesley Snipes. The Internal Revenue Service is suing Oscar-winning actor Nicholas Cage for using a Los Angeles-based company he owns to wrongly write off 3.3 million dollars in personal expenses including limos, meals, gifts, travel and jets.

High-tech giants seeking massive tax break

Microsoft and a handful of other tech giants are quietly securing a state tax break that could be worth more than $1 billion through legislation forged amid corporate threats and an interstate bidding war for computer server farms that have become the backbone of the Internet.

Don’t Like Taxes? Consider the Alternative

An outstanding essay on the positive side of taxation: As Justice Oliver Wendell Holmes Jr. observed many years ago. Taxes are the price we pay for civilization.

Idealog: Top Reader Excuses for Microsoft's Tax Avoidance

After my editorial suggesting Washington State close the loophole on Microsoft's tax avoidance schemes was published by Crosscut and linked by Slashdot (Creative Capitalism Gets Microsoft a $528M Tax Break), readers posted more than 542 comments, many defending Microsoft's practices. I am always struck by the arguments people use to defend corporate entities that dodge taxes, so I decided to summarize and respond to the most common arguments.

Microsoft's $528 million Washington tax break

When I heard that Microsoft Chairman Bill Gates had invoked the phrase "creative capitalism" at last month's World Economic Forum in Davos, Switzerland, it reminded me how Microsoft avoids paying taxes on Washington-made software by selling it through Nevada.

Wesley Snipes: a little guilty of tax dodging

Action man Wesley Snipes has been cleared of federal tax-fraud and conspiracy charges but was convicted on three misdemeanor counts of failing to file a tax return. On one hand, a big win for Snipes but he has done his reputation damage. And he has more than $14 million of back taxes.

As US tax rates drop, government's reach grows

Slightly over half of all Americans 52.6 percent now receive significant income from government programs, according to an analysis by Gary Shilling, an economist in Springfield, N.J. That's up from 49.4 percent in 2000 and far above the 28.3 percent of Americans in 1950. If the trend continues, the percentage could rise within ten years to pass 55 percent, where it stood in 1980 on the eve of President's Reagan's move to scale back the size of government.

Alternative Tax Hits Home the Hardest

Starting early next year, the number of households paying the A.M.T. within the region, and around the country, will skyrocket if Congress does not change the tax code. Citizens for Tax Justice projects that number will climb to 3 million from 870,000 in the region early next year, and to 23 million nationwide, up from 3.4 million last year.

Gregoire signs Internet sales tax bill into law - No word on Microsoft's Nevada Revenue

In this whole sales tax debate, I didn't see anything about Microsoft paying taxes on its $15+ billion in sales through it's Reno, Nevada subsidiary. Closing that loophole would capture 4x as much revenue as this bill. Nice try though.

Google and taxes

Google s corporate motto is don t be evil . Now, the Securities and exchange Commission is raasing questions about how the web search giant pays its taxes.