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A More Than Generous Tax ‘Credit’

1 day ago ago from Adam Fowler\'s Opinion Blog

Tax filers may notice an additional benefit this year: the Making Work Pay Tax Credit . This was part of the government's economic stimulus/recovery efforts. It means $400 for individuals or $800 for joint filers. What's interesting about this is that those paying little to no income taxes (those getting all or most of their withheld income back after filing) will, with this, get more money back than they paid in. As it stands, a large ...

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Do I have to pay taxes on my online income?

5 hours ago ago from PinoyMoneyTalk.com – Make Money Online, Stocks, Forex, Mutual Funds Philippines

January 8, 2007 Finally, after months of discussion in the Tax on Online Earnings thread in the PMT Forum, we now have an official reply regarding taxation of earnings from online sources outside the Philippines. If you are wondering whether or not you have to pay taxes on income earned from Google Adsense, pro-blogging, freelance writing, or HYIPs, among others, read below the official reply from the PinoyTax Yahoo Group , a ...

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Organize Your Files for Tax Time – Guest Post

3 hours ago ago from Finance for a Freelance Life

This post by PT from PT Money . PT plans on taking over the world in 2010. He'll start by helping you get ready to do your taxes. Tax Time is Here It's tax time! Are you excited? Some people love this time of year because it means they might be getting a refund soon. Others dread it because they have to pay taxes AND pay to have their taxes filed. Double whammy! Refund checks aside, what you don't want is to be bogged down by the process ...

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The Truth About Frivolous Tax Arguments

9 hours ago ago from Free Market Mojo

This responds to some of the more common frivolous “legal” arguments made by individuals and groups who oppose compliance with the federal tax laws. - Courtesy of the Internal Revenue Service . Granted, there is certainly some need for this document. Two years ago, Wesley Snipes attempted to avoid paying taxes using an argument with more holes than a wheel of swiss cheese. However, as much as Snipes' argument (and others like it) ...

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Warning to Thieves: Report Stolen Income on Your Tax Return & Pay the Income Tax

20 hours ago ago from KEYTLaw

An IRS publication states:  Stolen property. If you steal property, you must report its fair market value in your income in the year you steal it unless in the same year, you return it to its rightful owner. Tax Foundation :  It's funny but true; thieves must pay income tax on stolen property they keep or face tax evasion charges . (As they say, it's how they got Capone.) But since the Constitution protects individuals from incriminating ...

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What does Mike Huckabee want?

47 minutes ago ago from CNN Money

What does Mike Huckabee want? By Shawn Tully , senior editor at large February 10, 2010: 6:49 AM ET NEW YORK (Fortune) -- This week, I posted a story on Fortune.com saying that a Value Added Tax is fast becoming the only option America has left to solve the current fiscal crisis. In the piece, I said that former Arkansas Governor and leading Republican presidential contender Mike Huckabee favors a VAT to replace the income tax. I ...

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Letter from Europe - New Inroads on Swiss Bank Secrecy - NYTimes.com

21 hours ago ago from The New York Times

PARIS The Swiss are shocked again, this time over the German decision to buy a list of some 1,500 possible tax cheats saved on a disc lifted from a Swiss bank. It's stolen property, say the Swiss bankers. It's bank robbery, cry the lawyers. It's behavior unfitting of a civilized state, harrumphed one Swiss politician. Wait a minute. Who's talking here? This is a country that for centuries has relied on banking-secrecy laws to benefit from ...

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Washington's bonus tax fantasy

22 hours ago ago from CNN Money

Washington's bonus tax fantasy By David Ellis , staff writer February 9, 2010: 11:54 AM ET NEW YORK (CNNMoney.com) -- The government's plan to tax Wall Street's bonus bounty is shaping up to be nothing more than a pipe dream. Hoping to ride the wave of populist outrage against financial firms like Goldman Sachs, lawmakers have been hard at work hatching legislative schemes aimed at reining in bonuses at firms that received billions of ...

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Greece Unveils Austerity Measures

22 hours ago ago from Wall Street Journal

ATHENS The Greek government, facing pressure from financial markets on one side and union protests on the other, Tuesday announced measures to cap public-sector salaries and reform the country's tax code in a bid to fix the country's finances. "The outlines of the [public sector] wage policy, as well as the tax reform policy, are part of the broader effort to reform our public finances," Finance Minister George Papaconstantinou said at a ...

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Greece Grapples With Tax Evasion

11 hours ago ago from Wall Street Journal

ATHENS Greece has one apparently simple option for reining in a budget deficit that has roiled financial markets: Clamp down on widespread tax evasion, which costs the country an estimated 15 billion ($20.5 billion) a year, an amount that would pay off a big chunk of the budget deficit. The trouble is, tax evasion in this Mediterranean country is extremely difficult to eradicate. Trying to cope with its budget problems, Greece announced ...

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