Posts tagged as:

Obama

Justice Tax Division Nominee Has No Tax Experience

18 June 2009

On April 20, President Obama put forth Mary L. Smith as his nominee to be the Assistant Attorney General for the Tax Division. A hearing to consider the nomination was held last month, on May 12. The report on the hearing was sent to the Senate for consideration earlier this week. And [...]

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Elizabeth Garrett Says No To Top Tax Job

29 May 2009

Wanted: Assistant Treasury Secretary for Tax Policy. Must love taxes and be willing to undergo grueling nomination process. Also important to demonstrate understanding that everyone will hate what you do.
As it turns out, nobody seems to want that job.
Funny, at a time when the public is highly critical of the Treasury – [...]

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Fix the Tax Code Friday: Bailing Out the Government

15 May 2009

It’s Fix the Tax Code Friday!
Remember that study that I cited from the Tax Foundation earlier in the week? That same report offered another statistic. In 2007, the cost of balancing the budget would have cost each taxpayer an additional $1,789 in taxes. This year, due to “the bailouts and the Troubled [...]

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Obama Set to Shake Up Corporate Tax “Loopholes” Today

4 May 2009

The Obama administration is planning to announce a steps towards his promised “massive overhaul” of international financial regulations this morning. Administration officials do not expect the announcement to be popular.
So, the good news first. Obama will announce plans to make permanent a research tax credit that was to expire at the end of [...]

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White House Releases Tax Returns

16 April 2009

No extensions necessary for President Obama and Vice President Biden. Both have their tax returns for 2008.
Here’s the scoop:
President Obama and his wife reported $2.7 million in 2008, about $1.5 million less than they reported in 2007 (I guess the recession has hit everyone). A majority of their income came from royalties from [...]

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Ask the taxgirl: How Much Money Will I Get Under Obama’s Stimulus Plan?

4 April 2009

Taxpayer asks:
I was told that I would receive all my federal tax withholding for April, May & June. However, I just heard on the local news that it would only be $12 to $15, is that true?
Thanks for your advise,
Taxgirl says:
The Making Work Pay Credit will decrease the amount withheld from your paycheck by the [...]

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Federal Estate Tax Makes News Again

4 April 2009

Remember years ago when there was a lot of buzz about the federal estate tax “repeal” set to take place in 2010? It’s still law. But the thing that Congress didn’t make quite so public is that the repeal only lasts for one year. One. After 2010, the federal estate tax [...]

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Will Obama Make Employee Health Benefits Taxable?

12 March 2009

Senator Max Baucus (D-MT) isn’t a fan of limiting the itemized deductions for higher wage earners. I’ve said before that I’m not a fan of the idea and I don’t think it will pass in Congress.
But Baucus has another idea. He’s asked Treasury Secretary Geithner whether the Obama administration would consider changing the [...]

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Congress to Obama: Not So Fast

4 March 2009

Just days after President Obama outlined his proposed budget, which includes tax modifications (yeah, it’s a cheesy word, keep reading) for high wage earners, key leaders in Congress are making noise that they might not be in support of the plan. Chief among them is Senate Finance Committee Chairman Max Baucus (D-MT) who questioned [...]

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Does Anyone In DC Pay Their Taxes?

2 March 2009

Because, at this point, I have to think the answer is no.
After a string of Obama nominees disclosed tax issues – including confirmed Treasury Secretary Timothy Geithner and failed nominees Tom Daschle and Nancy Killefer – yet another has been revealed. Ron Kirk, Obama’s nomination for U.S. Trade Representative, owes an estimated $10,000 in [...]

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