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Category Archives: Financial News
Facebook’s Tax Refund
News that Facebook would be receiving a $429 million tax refund was of course misinterpreted by the general public. The consensus among those who just don’t understand the complete story is that a company as profitable as Facebook should never … Continue reading
The National Debt Ceiling: The “Other Cliff”
By now you probably know that the dreaded fiscal cliff has been averted, at least for a month or two. The term fiscal cliff refers to the potential for a deeper recession that would have been triggered by the terms of the … Continue reading
Posted in Financial News, IRS News & Info, Tax Legislation
Tagged debt ceiling, fiscal cliff, national debt, recession
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The Sacramento Gold Dust Mystery
In these days of FATCA and offshore accounts, for some it is hard to imagine those days when the preferred place to hide money was under a mattress or in a backyard hole. There could be many reasons for wanting … Continue reading
Berlin’s 540-Year-Old Debt
Apparently really old debts, . . . extremely old debts, . . . ridiculously old pre-Shakespearean debts can be “laughed off” and do not need to be paid. Our clients would be thrilled if the IRS treated their tax debt this … Continue reading
Can Greece Improve its Tax Morale?
One of the reasons Greece has had such a difficult time raising revenue is because tax evasion is sort of their national pastime. In Greece the “tax gap” (the difference between what should be paid by taxpayers and what actually gets … Continue reading
Obama’s Deficit Reduction Plan
How does President Obama propose to reduce the deficit by just over $2 trillion in 10 years? In a nutshell: Tax the Rich repeal of the Bush-era tax rates for couples making more than $250,000 place limits on deductions for … Continue reading
Greece on the Verge of Bankruptcy
In a conference call earlier today, Greek finance minister, Evangelos Venizelos, spoke with the “troika” — the Commission, the European Central Bank and the International Monetary Fund — with the hopes of convincing them that Greece will be able to pay its debts … Continue reading
Greece Increases Already Burdensome Property Tax
The new property tax announced by the finance ministry of Greece over the weekend was like a knife in the chest of struggling homeowners. Now, with tax relief nowhere in sight, the government is doing a little knife twisting. Just a few days after … Continue reading
New Greek Property Tax to be Collected by Power Company
Just a quick update on Greece’s financial crisis as it is related to taxes this time. On Sunday the government of Greece approved a new property tax aimed at quickly raising 2 billion euros to help plug some serious budget holes. So … Continue reading