WASHINGTON (AP) — President Donald Trump on Monday promised a tax overhaul by Christmas, a day after the White House signaled its willingness to strike a health care provision from Senate tax legislation if it’s an impediment to passing the tax bill. Speaking before a Cabinet meeting, Trump said: “We’re going to give the American … Continue reading
By MICHAEL R. BLOOD, Associated Press LOS ANGELES (AP) — California should use armored cars to transport hundreds of millions of dollars in cash tax payments expected next year with the state’s legal marijuana market, the state treasurer said Tuesday. The state on Jan. 1 will enter a new era with cannabis when recreational sales … Continue reading
WASHINGTON (AP) — The House Republican tax bill is meant to send trillions in corporate profits overseas pouring back home and, in the process, give the U.S. economy a healthy boost. It may be more likely to land with an economic thud and provide a windfall to tax attorneys scouring the Byzantine bill for tax … Continue reading
BRUSSELS (AP) — Amazon has to pay $295 million in back taxes to Luxembourg, the European Union ordered Wednesday, in its latest attempt to tighten the screws on multinationals it says are avoiding taxes through sweetheart deals with individual EU states. Margrethe Vestager, the EU official in charge of antitrust issues, also took Ireland to … Continue reading
WASHINGTON (AP) — The Latest on the Republican plan to overhaul the tax code (all times local): 8:20 p.m. President Donald Trump and congressional Republicans have unveiled the first major revamp of the nation’s tax code in a generation. The sweeping, nearly $6 trillion tax cut would deeply reduce levies for corporations, simplify everyone’s brackets … Continue reading
INDIANAPOLIS (AP) — Promising a “middle class miracle,” President Donald Trump on Wednesday was in full salesman mode as he tried to build momentum behind his plan to overhaul the nation’s tax code and revive his moribund legislative agenda. Hours after the White House and congressional Republicans released a framework for sweeping changes to the … Continue reading
WASHINGTON (AP) — The Latest on the Republican plan to overhaul the tax code (all times local): 9:20 a.m. President Donald Trump and congressional Republicans are proposing a tax plan that they say will be simple and fair. In a document obtained by The Associated Press on Wednesday, their outline a blueprint for almost doubling … Continue reading
WASHINGTON (AP) — President Donald Trump “has no intention” of releasing his taxes returns to the public, Treasury Secretary Steve Mnuchin said Wednesday, asserting Americans have “plenty of information” about the president’s financial matters. For decades, presidents have released their tax returns. But Trump has so far refused, suggesting he would share the tax documents … Continue reading
SAN FRANCISCO (AP) — The IRS obtained a court order Wednesday allowing it to seek the names of people who may have failed to pay taxes on virtual currency exchanged through a San Francisco company. The order allows the agency to issue a summons on Coinbase Inc. for the names of U.S. taxpayers who have … Continue reading
WASHINGTON (AP) — The Education Department is pursuing debt collection — rather than debt relief — for nearly 80,000 former students of Corinthian Colleges, despite federal and state findings that the now-defunct for-profit chain defrauded students, Sen. Elizabeth Warren said in a blistering critique of the administration’s actions. The Massachusetts Democrat reported the findings of … Continue reading
NEWARK, N.J. (AP) — Grammy Award-winning singer, songwriter and producer Mario Winans has admitted he intentionally failed to file federal income tax returns for several years. Winans, a member of the Winans family, best known for its gospel music artists, faces two years in prison and a $200,000 fine after pleading guilty Thursday to charges … Continue reading
ERIE, Pa. (AP) — Democratic vice presidential candidate Tim Kaine offered a systematic take down of Donald Trump’s business dealings and campaign claims Tuesday, arguing the Republican nominee’s presidential campaign amounts to nothing more than “Trump’s next big con.” “Donald Trump, thus far, has utterly failed to answer basic questions that Americans voters have a … Continue reading
LONDON (AP) — Governments around the world scrambled Tuesday Apr. 5, to contain the fallout from the publication of thousands of names of rich and powerful people who conducted offshore financial activity through a Panamanian law firm. China dismissed as “groundless” reports that relatives of current and retired politicians, including President Xi Jinping, own offshore … Continue reading
SALT LAKE CITY (AP) — The international debate over eliminating sales tax on tampons and other feminine hygiene products that women must use has made its way to conservative Utah. Governments that make money off the products penalize women for their biology, some say. That perspective has picked up momentum, with at least five U.S. … Continue reading
WASHINGTON (AP) — The U.S. will deploy a new special operations force to the Middle East to help fight Islamic State militants in Iraq and Syria, Defense Secretary Ash Carter said Tuesday. Carter told the House Armed Services Committee that over time, these special operators will be able to conduct raids, free hostages, gather intelligence … Continue reading
WASHINGTON (AP) — Older Americans got a double dose of bad news Thursday: There will be no cost-of-living increase in Social Security benefits next year, and Medicare bills are set to soar for many. It’s just the third time in 40 years that Social Security payments will remain flat. All three times have come since … Continue reading
WASHINGTON (AP) — Republican presidential front-runner Donald Trump touts his tax overhaul plan as a boon for middle-income Americans, but it would also be likely to help the wealthy — including people like himself. A closer look at some of the claims Trump made Monday in unveiling his tax proposal: ___ TRUMP: “It reduces or … Continue reading
NEW YORK (AP) — Hillary Rodham Clinton is calling for the repeal of part of President Barack Obama’s health care law, the so-called “Cadillac tax” on health insurance that’s unpopular with large corporations and unions alike. Critics say the tax will raise costs for consumers, while supporters see it as a brake on wasteful health … Continue reading
WASHINGTON (AP) — Republican presidential front-runner Donald Trump touts his tax overhaul plan as a boon for middle-income Americans, but it would also be likely to help the wealthy — including people like himself. A closer look at some of the claims Trump made Monday in unveiling his tax proposal: ___ TRUMP: “It reduces or … Continue reading
WASHINGTON (AP) — President Barack Obama urged Congress on Wednesday to avoid another contentious budget showdown and warned that the economy would surely take a hit if the government shuts down again. Obama blamed Republicans for the shutdown two years ago and made clear he would so again if it comes to that. “You’ll recall … Continue reading
DENVER (AP) — Colorado’s unusual tax law is forcing the state to suspend taxes on recreational marijuana for one day. The sales-tax break on Sept. 16 will shave $20 off the price of a mid-grade ounce of pot in the Denver area, where ounces this summer sell for about $200 before tax. It’s unusual for … Continue reading
WASHINGTON (AP) — The last major piece of President Barack Obama’s health care law could raise costs for thrifty consumers as well as large corporations and union members when it takes effect in 2018. The so-called Cadillac tax was meant to discourage extravagant coverage. Critics say it’s a tax on essentials, not luxuries. It’s getting … Continue reading
WASHINGTON (AP) — Wednesday is the deadline for filing income tax returns, a day long associated with the dread of rushing to fill out complicated forms and, perhaps, making a payment to Uncle Sam. But for most, it’s not that bad. Aside from the complicated forms, tax season generates $300 billion in tax refunds each … Continue reading
NORFOLK, Va. (AP) — A Norfolk woman who cashed more than $2 million in fraudulent income tax refund checks has been sentenced to more than seven years in federal prison. Thirty-four-year-old Tanya Evans was sentenced Tuesday in federal court in Norfolk for her December plea to conspiring to defraud the government. Court documents show a check-cashing business noticed in … Continue reading
WASHINGTON (AP) — The House voted Wednesday to expand the benefits of popular college savings plans that President Barack Obama failed to scale back. The bill would let students use money from college savings accounts to buy computers and other technology, something they cannot do now with tax-free distributions from the accounts. … Continue reading
