• Deutsche Bank proposes tax on people working from home

    Deutsche Bank proposes tax on people working from home

    White-collar staff reaping the financial benefits of working from home should be taxed to help other workers who aren’t getting the same advantages, experts at Deutsche Bank said in a new
  • Swiss to ban deducting bribes from taxes starting in 2022

    Swiss to ban deducting bribes from taxes starting in 2022

    Swiss companies will no longer be able to deduct bribes paid to private individuals from their taxes, Switzerland’s government said Wednesday, according to an update of tax laws due to take effect
  • NYSE may move trading systems from NJ over stock trade taxes

    NYSE may move trading systems from NJ over stock trade taxes

    The New York Stock Exchange has indicated that it will move its electronic trading systems out of New Jersey if the state implements a proposed tax on financial transactions, according to an internal memo seen by Reuters. The NYSE plans to announce that it will run one of its exchanges from a backup site in …
  • Biden Vows ‘No New Taxes’ on Individuals Making Under $400,000, Will Increase Taxes On Business Making ‘Excessive’ Profit

    Biden Vows ‘No New Taxes’ on Individuals Making Under $400,000, Will Increase Taxes On Business Making ‘Excessive’ Profit

    Democratic presidential nominee Joe Biden has said as president he would raise taxes for anybody making over $400,000 a year, while “no new taxes” would be raised for anyone making under that figure, saying everyone should pay “their fair share.” In a joint interview with running mate Senator Kamala Harris (D., Calif.) on ABC’s 20/20 …
  • Feds probing Robert F. Smith, billionaire who pledged to pay off students debt

    Feds probing Robert F. Smith, billionaire who pledged to pay off students debt

    The billionaire financier who promised to pay off an entire college class’s student debt is under federal probe for possible tax crimes, a new report says. A web of offshore financial transactions is at the heart of the probe of Robert F. Smith, a money manager and philanthropist who is the wealthiest black person in …
  • Texas Governor Proposes Legislation That Would Bar Cities That Defund Police from Hiking Property Taxes

    Texas Governor Proposes Legislation That Would Bar Cities That Defund Police from Hiking Property Taxes

    Texas Governor Greg Abbott on Tuesday proposed legislation that would deny the power to increase property taxes to cities that defund their police departments, following the Austin City Council’s decision to cut millions of dollars from its police budget. “Any city that defunds police departments will have its property tax revenue frozen at the current …
  • Mnuchin Says Trump’s Payroll Tax Cut Won’t Be in Coronavirus Relief Bill

    Mnuchin Says Trump’s Payroll Tax Cut Won’t Be in Coronavirus Relief Bill

    Treasury Secretary Steven Mnuchin said Thursday that the payroll tax cut President Trump has pushed for will not be in the fifth coronavirus relief package Senate Republicans are crafting. “It won’t be in the base bill,” Mnuchin said in an interview with CNBC. “One of the problems with the payroll tax cut is it takes time, …
  • New York’s June tax receipts dropped by $1.5 billion compared to last year

    New York’s June tax receipts dropped by $1.5 billion compared to last year

    State tax receipts plummeted by $1.5 billion, or 17.3 percent, in June compared to the same time a year ago as New York continues to suffer from the coronavirus pandemic, according to a new report. “As steps toward an economic reopening continue, state tax revenues remain far short of pre-pandemic levels,” said state Comptroller Tom …
  • Who The Hell Is FICA And Why Are They Taking My Money?

    Who The Hell Is FICA And Why Are They Taking My Money?

    H.L. Mencken once wrote that, “Every election is a sort of advance auction sale of stolen goods.” 2008 April 15 is the date on which the goods are stolen and on a Tuesday in early November—Election Day—the loot is distributed. The thieves, for the most part, are our politicians. Harsh words? Not nearly as harsh …
  • Apple wins landmark battle with EU over $15 billion tax bill

    Apple wins landmark battle with EU over $15 billion tax bill

    Apple on Wednesday was handed a major victory by Europe’s second-highest court, which rejected a European Union order for the tech giant to pay $15 billion in back taxes. It is the culmination of a tax battle that has been raging since 2016, when the European Commission ruled that Apple had artificially reduced its tax …