Law & Taxation

IRS: Budget cuts would hurt service, raise deficit

Tue, 18 Oct 2011 14:58:00 -0400

Legislation that would trim hundreds of millions of dollars from the Internal Revenue Service budget would force significant cuts in the services it provides taxpayers and cost the government $4 billion annually in lost revenue, the agency warned Congress on Monday.

Gucci workers 'tortured' during shifts

Sat, 15 Oct 2011 14:24:00 -0400

Employees of luxury goods manufacturer Gucci were subject to "torture", being made to stand for 14 hours a day, pay for goods stolen by customers and being forced to ask for toilet breaks.

US Justice Seeks Info From News Corp.

Wed, 21 Sep 2011 13:04:00 -0400

U.S. prosecutors have sent News Corp. a letter seeking information about possible payments made by its U.K. tabloid newspapers to British policemen, according to people familiar with the matter.

New government fees pepper Obama deficit plan

Tue, 20 Sep 2011 13:50:00 -0400

It's not just millionaires who'd pay more under President Barack Obama's latest plan to combat the deficit. Air travelers, federal workers, military retirees, wealthier Medicare beneficiaries and people taking out new mortgages are among those who would pay more than $130 billion in government revenues raised through new or increased fees.

Former L.A. Times Magazine Publisher Sues Tribune for $13M

Sat, 17 Sep 2011 14:31:00 -0400

Steven Gellman, the former publisher of the Los Angeles Times magazine, filed a lawsuit Thursday against the Tribune Company, seeking $13 million in damages for wrongful termination, defamation, intentional infliction of emotional distress and violation of business and professions code.

Tribune Company to Pay $32 Million to Settle Lawsuit

Sat, 20 Aug 2011 05:44:00 -0400

The Tribune Company, the bankrupt publisher of The Chicago Tribune and The Los Angeles Times, said Friday that it had agreed to pay $32 million to settle a lawsuit filed by former employees.

Starbucks pays $75K in suit filed by woman with dwarfism

Fri, 19 Aug 2011 06:35:00 -0400

The Starbucks Coffee Company has paid $75,000 to the U.S. Equal Employment Opportunity Commission to settle a lawsuit for unlawfully denying a reasonable accommodation to a woman with dwarfism, according to a press release.

Australia to tax nation's worst polluters

Mon, 11 Jul 2011 15:32:00 -0400

Australia will force its 500 worst polluters to pay 23 Australian dollars ($25) for every ton of carbon dioxide they emit, with the government promising to compensate households hit with higher power bills under a plan to reduce greenhouse gas emissions unveiled Sunday.

Illinois lawmaker says raising obese kids should cost parents at tax time

Wed, 11 May 2011 16:47:00 -0400

An Illinois lawmaker says parents who have obese children should lose their state tax deduction.

Irish Bombshell: Government Raids PRIVATE Pensions To Pay For Spending

Wed, 11 May 2011 16:47:00 -0400

The Irish government plans to institute a tax on private pensions to drive jobs growth, according to its jobs program strategy, delivered today.

Obama administration floats draft plan to tax cars by the mile

Fri, 06 May 2011 17:04:00 -0400

The Obama administration has floated a transportation authorization bill that would require the study and implementation of a plan to tax automobile drivers based on how many miles they drive.

Amazon Takes Action in Illinois as War on Sales Taxes Continues

Fri, 11 Mar 2011 17:55:00 -0500

Amazon.com Inc.'s battle with state governments over sales taxes is escalating. The online retailer on Thursday took action in Illinois, as it had threatened to do, to counter a new law aimed at forcing online retailers to collect sales taxes in the state. Hawaii, North Carolina and Rhode Island have enacted similar laws, and California is weighing action. Amazon is also in a court battle with New York over such legislation.

France to scrap tax cap for the rich

Fri, 04 Mar 2011 18:26:00 -0500

In a major turnaround, French President Nicolas Sarkozy and his indebted government are abandoning a tax ceiling for big earners he once hailed as key to modernizing France and luring investors.

OUTRAGE: Yankees' A-Rod To Pay 50X Less Than Going Tax Rate On $6M NYC Penthouse

Sat, 26 Feb 2011 16:05:00 -0500

They were crying foul Friday about a sweetheart tax loophole that will enable Yankees slugger Alex Rodriguez to live in his new $6 million luxury West Side penthouse and pay virtually no real estate taxes.

Former official at Florida mortgage giant admits guilt in $1.9 billion fraud

Fri, 25 Feb 2011 15:56:00 -0500

The former treasurer of Taylor, Bean & Whitaker Mortgage Corp., once the 12th largest mortgage lender in the U.S., admitted helping run a $1.9 billion fraud scheme that targeted the government’s Troubled Asset Relief Program and contributed to the failure of Colonial Bank.

Maryland Set To Pass 'Dime A Drink Tax' On Alcohol

Thu, 06 Jan 2011 12:03:00 -0500

Alcohol may soon come with a new kind of high. It’s not stronger proof. It’s a higher tax. Alex DeMetrick reports supporters of a “Dime a Drink Tax” think they have a shot at making it happen in Maryland.

Obama Tax Deal Clears Hurdle by Passing Senate

Thu, 16 Dec 2010 16:09:00 -0500

A deal struck by President Barack Obama and Republicans to extend expiring tax cuts for millions of Americans and stimulate the sluggish U.S. economy got the needed majority of votes for passage in the Senate on Wednesday.

US Government Employees Owe Billions in Delinquent Taxes

Wed, 17 Nov 2010 16:01:00 -0500

Need a quick three billion dollars, Uncle Sam? How about looking in your own pockets? Deficit cutters struggling to make ends meet in Washington are eyeballing an unusual pot of potential revenue: back taxes owed to the government by federal employees themselves.