December 22, 2005 |
Tax preparer H&R Block Inc. agreed Wednesday to pay $62.5 million to settle a number of class-action lawsuits dealing with its use of refund anticipation loans. A Circuit Court judge in West Virginia is scheduled to consider the settlement Friday. If approved, it will resolve four class-action suits filed in West Virginia, Ohio, Alabama and Maryland, as well as claims pending in 22 other states and the District of Columbia.
October 29, 2005 |
Former District of Columbia Mayor Marion Barry pleaded guilty to two misdemeanor counts stemming from his failure to file tax returns in 2000. Sentencing for Barry, a city councilman, was set for Jan. 18 in U.S. District Court. He pleaded guilty to misdemeanor counts of willfully failing to file and failure to provide information. A plea agreement recommended probation. Magistrate Judge Deborah A.
April 16, 2005 |
President Bush and his wife reported $673,000 in taxable income in 2004, a slight drop from the previous year, and Vice President Dick Cheney and his wife reported a 63% increase in their taxable income, to $1.3 million, according to their tax returns, which were released Friday. The Bushes paid $207,000 in federal income tax, approximately $20,000 less than last year. Their adjusted gross income last year was $784,219. The Cheneys paid $393,518 in federal income tax, up 55% from the prior year.
April 15, 2005 |
Haven't filed a 2004 federal income tax return yet? You've got a few hours left -- and plenty of company. As of last week, the Internal Revenue Service was still waiting for about 43 million returns, or just under 30% of the expected total. Many of those are returns from taxpayers who owe money and want to avoid writing Uncle Sam a check as long as possible. But many people simply procrastinate.
March 30, 2005 |
The difference between what taxpayers owe the government and what they actually pay on time totals more than $300 billion a year, the Internal Revenue Service said Tuesday. A research project at the tax agency found that the tax gap ranged from $312 billion to $353 billion in tax year 2001, compared with an earlier estimate of $311 billion. The project assessed individual, not corporate, taxes.
February 21, 2005 |
Vince Dorn, a 46-year-old technical writer for Silicon Valley biotech companies, has filed his own tax returns for as long as he can remember. This year, he handed his Form 1040 to a professional. "We wanted to make sure we were getting all the tax breaks we could get," said Dorn, who recently launched a technical writing business. "We had all these things going on: kids headed to college, a new business, a new home, issues with retirement plans.
February 21, 2005 |
Come tax time, schoolteachers, military reservists, landlords and performing artists all have at least one thing in common -- they can claim special tax deductions without bothering to itemize. They're members of a growing club. People who buy fuel- efficient cars, employees who contribute to health savings accounts and indebted former students all warrant so-called above-the-line deductions.
CALIFORNIA | LOCAL
February 20, 2005 |
California's tax agency is moving forward with a revolutionary -- some say disturbing -- concept: having the government do your taxes for you. Instead of getting blank forms in the mail this month, a small group of taxpayers selected for a pilot program will receive a tax return that's already filled out. All they'll need to do is sign it, enclose a check if they owe anything, and send it back to the state.
February 2, 2005 |
California officials on Tuesday launched a two-month amnesty program that they hope will coax scofflaws to cough up at least $250 million in back taxes. The general amnesty, the state's first in two decades, allows individuals and corporations owing income or sales taxes to pay up without being hit with financial penalties or criminal sanctions. "Tax amnesty is a win-win proposition," said state Controller Steve Westly. "Taxpayers get a break, and the state gets a boost."
December 4, 2004 |
A Republican House aide was the prime mover behind a provision in appropriations legislation that would allow greater access to income tax returns, a spokesman for the House Appropriations Committee said Friday. It was Rich Efford, who heads the GOP staff of the panel's subcommittee controlling the Internal Revenue Service's budget, the spokesman said. The provision would let leaders of the House and Senate Appropriations committees grant access to themselves or their aides to tax returns.