Archives for March 2009

A Tax Problem for Another Obama Cabinet Appointee. Where’s the Outrage?

A Tax Problem for Another Obama Cabinet Appointee. Where’s the Outrage?

The Kansas City Star reports that, Health and Human Services nominee Kathleen Sebelius has corrected three years of tax returns and paid more than $7,000 in back taxes after finding “unintentional errors” — the latest…

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Professor Lawrence Tribe has Change of Heart on Legality of AIG Bonus Tax

Professor Lawrence Tribe has Change of Heart on Legality of AIG Bonus Tax

This is a follow up post to my recent posts Harvard Professor, Lawrence Tribe, on the Legality of Taxation of AIG Bonuses and Is Congress’ Plan to Retroactively Tax AIG Bonuses Constitutional. Kay Bell of Don’t…

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IRS Underpayment Penalty Safe Harbor Rules

IRS Underpayment Penalty Safe Harbor Rules

The IRS uses a pay-as-you-go system of tax collection that requires taxpayers to pay their taxes throughout the tax year. If you fail to pay make the appropriate payments during the year, either through federal withholding or…

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House Bill: Increase Deduction for Small Business Start Up Costs from 5k to 20k

House Bill: Increase Deduction for Small Business Start Up Costs from 5k to 20k

Tax News.Com reports that legislation has been introduced in the House of Representatives that would facilitate new business formation by increasing the maximum tax deduction for small business start-up expenses: The Small Business Formation and Job…

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