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Archives for Taxes - News

US companies look overseas for tax bill relief

A growing number of U.S. companies are looking to trim their tax bills by combining operations with foreign businesses in a trend that may eventually cost the federal government billions of dollars in revenue. Generic drugmaker Mylan Inc. said Monday ...

IRS to revise rules used to attack conservative political groups

The Internal Revenue Service is scrapping the proposed rules on political activities that were at the heart of the scandal in which the agency was accused of deliberately targeting conservative groups. After revelations that IRS employees were giving ...

Caterpillar digs in at hearing on taxes: We pay everything we owe

WASHINGTON -- Since 1999, Caterpillar Inc. has routed most of the profits from its foreign replacement parts business through an affiliate in Switzerland that employs a small fraction of the company's 118,000 workers and has no warehouses. The strate ...

Here's why politicians want to legalize pot

Colorado is rolling in the (cookie) dough. The tax figures are in, and in the first month of recreational pot sales, the state pulled in $2.1 million in tax revenue and fees, plus an additional $1.4 million from medical marijuana. Figures published b ...

Gov. Rick Scott calls for new $100 million business tax cut

Florida Gov. Rick Scott on Tuesday urged state lawmakers to cut the sales tax charged on commercial leases by $100 million a year. The Republican governor, who made the announcement at an Ace Hardware in an east Orlando strip mall, said the move woul ...

Medical device makers urge repeal of Obamacare tax

A full repeal of the Affordable Care Act appears unlikely, but Republicans and Democrats could unite to roll back an unpopular 2.3 percent tax on medical devices, which has cut into profitability at a handful of Chattanooga-area businesses and pushed ...

Medical-device makers take brunt of taxes for Obamacare

The nation will clear a major hurdle Tuesday toward full implementation of the Affordable Care Act, but the effort to pay for the law's provisions is hindering one of the region's biggest industries. Specifically, the law also known as Obamacare crea ...

Ohio groups long ago sounded alarm on IRS

Conservative Ohio groups more than a year ago raised the alarm that the Internal Revenue Service was holding up their applications for tax-exempt status, leading Ohio U.S. Rep. Jim Jordan (R., Urbana) to request the audit that led to the IRS's admiss ...

At least 4 IRS offices involved in targeting conservatives

Internal Revenue Service Tea Party targeting went beyond an Ohio office, and the current and ex-IRS heads knew about the practice a year ago, records indicate. IRS officials at the agency's Washington headquarters and at offices in El Monte, Calif., ...

NC man thinks he was harassed by IRS because of his Tea Party politics

David DeGerolamo, who runs a Cary graphics business and has been active in Tea Party politics, said he experienced harassment from the Internal Revenue Service that stretched out for nearly a year. The recent reports that the federal tax agency had t ...


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