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Sen. Tom Coburn is ‘livid’ about Apple’s tax loopholes

Philip Elmer-DeWitt — Wed, 02 May 2012 15:06:21 +0000

Yet he is prepared to give the company the biggest tax break of them all

FORTUNE -- I don't know what to say about Tom Coburn, the pro-gun, pro-death penalty, anti-abortion, anti-gay rights, Southern Baptist deacon and junior senator from Oklahoma.

As a congressman he protested NBC's 1997 broadcast of Schindler's List because its depiction of the Holocaust included "full-frontal nudity, violence and profanity." In 2007 he threatened to block two bills honoring the MORE

Apple’s tax strategies: ‘Double Irish With a Dutch Sandwich’

Philip Elmer-DeWitt — Sun, 29 Apr 2012 10:39:58 +0000

The New York Times uses Apple as a lens to look at the loopholes in corporate tax codes

FORTUNE -- Apple (AAPL), like every other company in America, from Amazon (AMZN) to Google (GOOG), uses every loophole it can find -- and at least one it apparently invented -- to avoid paying a penny more than it has to in corporate taxes.

According to a front-page story in Sunday's New York Times, MORE

Why half of us don’t pay income tax

IRS help, tax breaks and loopholes - CNNMoney.com — Thu, 26 Apr 2012 09:49:07 +0000

It's a provocative fact about the tax code: Nearly half of U.S. households end up owing no federal income tax.

Your taxes are due!

IRS help, tax breaks and loopholes - CNNMoney.com — Tue, 17 Apr 2012 16:19:39 +0000

Unless you've filed for an extension, today is the last day to get your taxes turned in to the IRS.

Senate GOP blocks Buffett Rule bill

IRS help, tax breaks and loopholes - CNNMoney.com — Mon, 16 Apr 2012 23:50:26 +0000

A proposal to implement the Buffett Rule was blocked in the Senate on Monday, but proponents of the millionaire tax vowed to keep the issue alive in the months ahead.

Your taxes aren’t due today!

IRS help, tax breaks and loopholes - CNNMoney.com — Mon, 16 Apr 2012 15:31:26 +0000

Before you start to panic, remember that you still have a couple more days to get your return filed to Uncle Sam.

Do I have to claim reinvested dividends as income?

IRS help, tax breaks and loopholes - CNNMoney.com — Mon, 16 Apr 2012 14:21:18 +0000

Buffett Rule: What do you know?

IRS help, tax breaks and loopholes - CNNMoney.com — Mon, 16 Apr 2012 11:57:06 +0000

President Obama's proposed millionaire tax may not go very far in Congress. But it's likely to be a talking point until the election in November.

Romney files for extension on 2011 tax return

IRS help, tax breaks and loopholes - CNNMoney.com — Fri, 13 Apr 2012 23:15:39 +0000

Like millions of other Americans, Mitt Romney isn't going to be ready to file his taxes on time this year.

There’s still time left to file your taxes

IRS help, tax breaks and loopholes - CNNMoney.com — Fri, 13 Apr 2012 19:55:00 +0000

Tax Day is drawing near, but you still have a little time left to get your return filed to Uncle Sam.

Can I write off my blog as a tax deduction?

IRS help, tax breaks and loopholes - CNNMoney.com — Fri, 13 Apr 2012 16:38:20 +0000

I saw a website that claims I can lower my taxes by declaring my blog as a business for tax purposes. Is this really possible? -- A.K., Los Angeles, Calif.

Millionaires’ effective tax rates top most

IRS help, tax breaks and loopholes - CNNMoney.com — Thu, 12 Apr 2012 14:06:23 +0000

A lot gets lost in the rhetoric about the Buffett Rule, which would impose a minimum 30% tax on millionaires.

Don’t overlook this $6,000 tax credit

IRS help, tax breaks and loopholes - CNNMoney.com — Thu, 12 Apr 2012 12:03:13 +0000

Many of the people who could use a little extra money the most are missing out on a tax credit worth up to nearly $6,000.

The budget: Is Uncle Sam just an insurance company?

IRS help, tax breaks and loopholes - CNNMoney.com — Thu, 12 Apr 2012 09:50:01 +0000

Your taxing IRS FAQ

IRS help, tax breaks and loopholes - CNNMoney.com — Wed, 11 Apr 2012 15:20:46 +0000

This document will help you understand the United States Internal Revenue Code, Title 26 of the U.S. Code (26 USC) as you prepare to file your 2011 returns. Fitting this service onto a single page has necessitated abridgements. The actual tax code is m...

Your taxing IRS FAQ

Bing — Wed, 11 Apr 2012 15:17:54 +0000

No taxation without obfuscation. It's the American way.

By Stanley Bing

FORTUNE -- This document will help you understand the United States Internal Revenue Code, Title 26 of the U.S. Code (26 USC) as you prepare to file your 2011 returns. Fitting this service onto a single page has necessitated abridgements. The actual tax code is more than 3 million words long and would fill 7,500 pages if printed on letter-size paper. For MORE

Audits of mega-rich off to a slow start

IRS help, tax breaks and loopholes - CNNMoney.com — Wed, 11 Apr 2012 14:38:14 +0000

The IRS defended itself this week against claims that the agency is going easy on the nation's super rich taxpayers.

Fatal car wrecks jump on tax day

IRS help, tax breaks and loopholes - CNNMoney.com — Wed, 11 Apr 2012 13:43:50 +0000

The odds of getting into a fatal crash increase by 6% on tax filing day, according to a study published Wednesday in the Journal of the American Medical Association.

Obama’s Buffett Rule: FAQ

IRS help, tax breaks and loopholes - CNNMoney.com — Tue, 10 Apr 2012 20:26:48 +0000

President Obama on Tuesday will continue to beat the drum for the Buffett Rule, his campaign-ready tax proposal aimed at millionaires and billionaires.

Obama makes case for Buffett Rule

IRS help, tax breaks and loopholes - CNNMoney.com — Tue, 10 Apr 2012 20:16:33 +0000

President Obama made another push for his proposed Buffett Rule in a speech Tuesday in Florida.

Bizarre tax evasion schemes

IRS help, tax breaks and loopholes - CNNMoney.com — Sat, 07 Apr 2012 01:32:06 +0000

From claiming that tax forms contain "the mark of the beast" to arguing that the IRS isn't a government agency, some people will go to great lengths to avoid paying taxes.

Virtual tax audits coming soon?

IRS help, tax breaks and loopholes - CNNMoney.com — Thu, 05 Apr 2012 13:13:49 +0000

The dreaded process of getting an audit could soon take place over a computer screen in the comfort of your living room.

8 tax apps for filers on the go

IRS help, tax breaks and loopholes - CNNMoney.com — Tue, 03 Apr 2012 22:23:01 +0000

From organizing your receipts to filing your return, these 8 apps will help you through every step of your tax-filing journey.

Tax breaks for the unemployed

IRS help, tax breaks and loopholes - CNNMoney.com — Tue, 03 Apr 2012 13:49:49 +0000

For unemployed Americans who have watched their savings diminish as they look for work, tax season may finally bring some relief.

Your tax bill: 107 days of work to pay off

IRS help, tax breaks and loopholes - CNNMoney.com — Mon, 02 Apr 2012 22:11:11 +0000

More than three months of your hard-earned wages are going straight to the IRS this year.

Health reform’s tax bite

IRS help, tax breaks and loopholes - CNNMoney.com — Fri, 30 Mar 2012 10:22:29 +0000

No one knows for sure what the Supreme Court will do with health care reform. But unless it strikes down the whole law, millions of wealthy families can expect a tax increase come January.

Beware the taxman: 11 audit red flags

IRS help, tax breaks and loopholes - CNNMoney.com — Tue, 27 Mar 2012 23:43:27 +0000

Worried about getting audited? Don't be a prime target. Here's what the IRS looks for and tips to help you avoid getting singled out.

U.S. corporate tax rate: No. 1 in the world

IRS help, tax breaks and loopholes - CNNMoney.com — Tue, 27 Mar 2012 17:44:19 +0000

On Sunday, the United States gets a distinction no nation wants -- the world's highest corporate tax rate.

Tax reform: Why it’s so hard

IRS help, tax breaks and loopholes - CNNMoney.com — Tue, 27 Mar 2012 09:21:48 +0000

Tax reform. Politicians tout it as fiscal nirvana. It will spur economic growth, curb deficits, reduce income inequality, you name it.

Audit rates of millionaires nearly double

IRS help, tax breaks and loopholes - CNNMoney.com — Fri, 23 Mar 2012 12:32:36 +0000

The more money you have, the more the IRS wants you.