Topic: Internal Revenue Service

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  • Housing prices: Are short sales in danger?

    As housing prices recover, short sales have become an increasingly popular escape route for indebted homeowners. But the future of short sales depends on a tax cut extension from Congress that may or may not come, and realtors argue that housing prices haven't rebounded enough for many homeowners to afford their debt forgiveness as a tax. 

  • Romney tax returns: What’s missing in his report?

    Pundits, political partisans, and amateur CPA’s are poring over the numbers in Mitt Romney’s tax returns. What’s missing, tax experts say, are the details of Romney’s retirement account from Bain Capital, including investments in offshore accounts in Bermuda and the Cayman Islands.

  • Romney paid excess taxes in 2011. Patriotic or dumb?

    Mitt Romney paid $1.9 million in federal taxes on $13.7 million in income. But he could have paid less federal taxes had he claimed a full deduction on $4 million in charitable giving.

  • How damaging is Romney's 'victims' comment? (+video)

    Republican presidential candidate Mitt Romney's staff was sent scrambling when a video surfaced of Romney saying almost half of all Americans, 'believe they are victims.' 

  • Donald Marron Workers bear the corporate income tax burden

    Corporate income tax moves some capital abroad, which reduces worker productivity, wages and benefits, Marron writes. As a result, some of the corporate income tax burden falls on workers.

  • Tax VOX Do corporate tax breaks benefit the middle class?

    Revisions in the definition of the corporate income tax may assume that workers bear some of the corporate tax burden.

  • UBS whistleblower: prison, then $104 million reward

    UBS whistleblower Brad Birkenfeld gets record reward from IRS for exposing tax evasion at the Swiss bank. IRS investigation recovered $5 billion in back taxes and penalties from taxpayers.

  • UBS whistleblower: IRS pays tax cheat informant $104M

    UBS whistleblower Bradley Birkenfeld was awarded $104 million by the Internal Revenue Service for providing information about overseas tax cheats. The UBS whistleblower is credited with exposing widespread tax evasion at the Swiss bank and was jailed after cooperating with authorities.

  • Why Utah tops list of most generous US states

    The more religious a state, the more generous to charities, especially religious institutions. More secular states in the Northeast are less generous, says a new study by the Chronicle of Philanthropy. 

  • Companies paid CEOs more than they paid in taxes

    In all, 26 companies paid their CEOs more in 2011 than they paid in 2011 federal taxes. A new study says Citigroup, Abbott Labs, and AT&T, among others, paid CEOs more than they gave to Uncle Sam.