From the category archives:

corporate

Is It Luck of the Irish or Something More?

17 March 2010

Ah, Ireland. Land of leprechauns, rainbows and… low corporate taxes. That’s right: Ireland is a tax haven.
Over the past few years, Ireland has been taking increasing heat from its near neighbors and the US for its perceived efforts to lure corporations to the Emerald Isle. Already facing criticism from many in the UK, [...]

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Microsoft Exec: Consumers Need to Pay More Taxes

7 March 2010

What if the head of Coca-Cola suggested a tax on sugary sodas to combat increasing instances of obesity? Or if the big three automakers heralded an increase in the gas tax as a way of repairing our highways? It would leave a lot of us scratching our heads.
That’s why many IT folks were left [...]

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Loss Carryback Rules Leading to Refunds

16 February 2010

This time of year, most of the focus in the media tends to be on negativity – taxes gone bad, driving folks out of business and others to distraction. That’s why it was heartening to see this story on CNN about a taxpayer who caught a break with the new tax laws.
As previously blogged, [...]

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Bankers Lawyer Up to Fight Tax

19 January 2010

Remember this ad for Infiniti Q45?

The commercial doesn’t really give you much information. We just know it’s a commercial for a florist car company. The ad campaign was pretty widely knocked as “zen marketing” – it’s supposed to make you feel good about the car. You just don’t know any facts. It could be a [...]

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Treasury Plays Fairy Godmother to Citi; Kucinich Says Not So Fast

18 December 2009

Not everyone is as thrilled about Citigroup’s new tax breaks as, well, Citi.
Former presidential contender Rep. Dennis J. Kucinich (D-OH) counts himself of as one of those who has concerns about the Treasury Department’s decision to change the law so that Citigroup could keep billions of dollars in tax breaks. He went so far as [...]

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Big Banks Move On… With a Little Help from Their Friends?

15 December 2009

Wells Fargo announced early this week that it will repay $25 billion received under the Troubled Asset Relief Program (TARP). The announcement comes on the heels of a similar announcement from the Bank of America. Citibank rushed to join the ranks of those banks committed to repaying TARP funds over the next few [...]

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Ask the taxgirl: Cash Payments

2 December 2009

Taxpayer asks:
I own a number of buildings that I rent out. One of my tenants bounced a bunch of checks so I made him pay it all back to me in cash. My accountant told me that I should report the cash payments separately to the IRS since they are more than $10,000. [...]

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Businesses Get Tax Break

9 November 2009

Don’t get too excited. It’s not a huge tax break – but it’s not a bad one either. A bill that was rushed through recently passed in Congress, known as The Worker, Homeownership and Business Assistance Act of 2009, will allow businesses to apply losses retroactively.
The bill, which was tacked onto the homebuyer’s [...]

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Chinese Tax Revenues Up: Should We Be Worried?

7 August 2009

If the news that US tax revenues have fallen was disturbing, then this may be even worse: China’s tax revenues are expected to grow by 10% in 2009. The increase comes on the heels of a successful 2008 year in China, where tax revenues climbed 18.8% to 5.42 trillion yuan ($792.68 billion).
The “global [...]

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IRS Offers Guidance on “Cash for Clunkers”

6 August 2009

The IRS has issued some guidance on the “Consumer Assistance to Recycle and Save” (Cash for Clunkers program).
President Obama signed the bill into law on June 24, 2009 (you can download the bill here as a pdf). It’s basically a vehicle trade-in and purchase program (leases for more than 5 years work, [...]

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