taxes

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Protests: 135 Hurt, 1K Detained

French official says the violence is 'under control'

(Newser) - France's interior minister says the protest violence in Paris is "under control" despite scattered tensions but is calling it "totally unacceptable." Interior Minister Christophe Castaner says 135 people were injured in the protests Saturday, including 17 police officers, the AP reports. He says "exceptional" security... More »

Where France's Emmanuel Macron Blew It

He miscalculated how the burden of his fuel tax would fall on people who could least afford it

(Newser) - Paris and other large cities in France are bracing for violence this weekend. "Yellow vest" protesters promise to be out in force, and police promise to be there to meet them. One potential sign of good news: Representatives of the protesters will meet with Prime Minister Edouard Philippe Friday... More »

France Said It Wouldn't Budge on Fuel Tax. It Just Did

Tax hikes have been suspended for several months after violent protests, per PM

(Newser) - French Prime Minister Edouard Philippe announced a suspension of fuel tax hikes Tuesday, a major U-turn in an effort to appease a protest movement that radicalized and plunged Paris into chaos last weekend, French media report. Both Le Monde newspaper and France Info radio said the planned increase, which has... More »

They Were Protesting a Fuel Tax. Then a Driver Panicked

One dead, dozens hurt in France after demonstration

(Newser) - One protester was killed and 47 others were injured during roadblocks set up around France to demonstrate against rising fuel taxes, a new challenge to embattled President Emmanuel Macron, the AP reports. The protester was killed when a driver caught in traffic accelerated in a panic at Pont-de-Beauvoisin, near Chambery,... More »

5 Strange Things That Were Once Taxed

Including ... beards?

(Newser) - If you currently sport a beard, just be glad you're not living in England a few centuries ago. King Henry VIII introduced the first beard tax in 1535, in an attempt to turn the facial hair into a status symbol. Though he later did away with the tax, Queen... More »

Kushner Didn't Pay Federal Taxes for Years: NYT

Documents show how real-estate developers avoid paying

(Newser) - Seems President Trump isn't the only one who avoids paying taxes . Jared Kushner paid little to no taxes from 2009 to 2016 by exploiting a quirk of the tax code that benefits real-estate developers, the New York Times reports. A review of his private financial documents shows that Kushner—... More »

Top Tech CEOs Bicker Over Chronic Homelessness

Jack Dorsey, Marc Benioff trade barbs on Twitter

(Newser) - Two of the world's top tech CEOs disagree about how to ease homelessness in San Francisco—a city where extreme wealth glitters alongside roughly 7,500 living on the streets, the Guardian reports. At issue is a proposed tax on wealthy city businesses that Salesforce CEO Marc Benioff supports... More »

Trump Could Face 'Staggering' Tax Penalty

NY officials 'vigorously pursuing' investigation

(Newser) - Though President Trump insists he did nothing wrong on his taxes , experts say he could be on the hook for tens of millions of dollars in civil fines if state and federal authorities substantiate a New York Times report that found he and his family cheated the IRS for decades.... More »

Trump Responds to NYT Report on His Inheritance

'Very old, boring'

(Newser) - Those waiting for President Trump's response to the New York Times investigation into what it says was the $413 million inheritance (in today's dollars) he received and the alleged "dubious tax schemes" around it got it mid-morning. The president tweeted , "The Failing New York Times did... More »

White House Plans Bold Move on Taxes

Treasury might change how capital gains are figured, benefiting wealthiest Americans

(Newser) - The wealthiest Americans may be getting some good news on taxes from a big shift under consideration by the Treasury Department. The change would affect how capital gains taxes are figured in regard to inflation, with the upshot being that the amount owed to the government would be less, reports... More »

Pennsylvania Township Had a $1M Surplus. And Did This

Middletown Township, Pa., cut 14,361 checks

(Newser) - A Pennsylvania township with more money than it anticipated from increased property tax collection has decided to give the dividends to residents, the AP reports. Middletown Township in Bucks County sent 14,361 checks for $68 each to all owners of properties with structures on them. Efforts to keep town... More »

Big Move in One State Could Keep Trump Off 2020 Ballot

Rhode Island bill would make all presidential hopefuls release tax returns to get on ballot

(Newser) - Gayle Goldin wants to make sure future presidential candidates fully reveal any potential conflicts of interest. That's why the Democratic state senator from Rhode Island is now sponsoring a bill that would require Oval Office hopefuls to release five years' worth of tax returns—meaning President Trump could see... More »

Seattle Kills Tax in Face of Formidable Foe: Amazon

City council rolls back tax it had unanimously approved last month

(Newser) - What does defeat sound like? This: "We have reached the conclusion that this is not a winnable battle at this time." That was the pronouncement of Seattle Councilwoman Lisa Herbold Tuesday in advance of what ended up being a 7-2 vote to reverse a new tax the council... More »

Amazon Not Thrilled With Seattle's New 'Amazon Tax'

Tax on city's largest employers will bring in about $45M a year

(Newser) - "People are dying on the doorsteps of prosperity." That's per a city councilwoman in Seattle, where local politicians hope a new tax on big business will alleviate homelessness. On Monday, the Seattle City Council passed a "head tax," which starting in 2019 will be imposed... More »

He Paid the IRS $500M Last Year. This Year, It's $1B

John Paulson's bill for his big bet on subprime mortgages has come due

(Newser) - If you find yourself forced to write a check to the IRS come April 17, know that John Paulson feels your pain—and owes more than can fit on a single check. Paulson put down big stakes against subprime mortgages before the 2008 crash and earned billions in the process.... More »

Republicans Get More Good News on Tax Changes

Starbucks, Disney plan raises and bonuses, and Jamie Dimon predicts economic growth

(Newser) - Republicans have a few more bragging points over their newly passed tax plan , which slashed the corporate tax rate from 35% to 21%.
  • Starbucks: The chain is giving its US workers pay raises and stock grants this year, citing the tax changes, per the AP . Employees also soon will be
... More »

Using Contractors to Collect $6.7M Cost IRS $20M

Watchdog says program is harming taxpayers

(Newser) - The Internal Revenue Service's outsourcing of tax debt collection is costing the IRS about $3 for every $1 it brings in, according to a report from a federal watchdog. National Taxpayer Advocate Nina Olson, head of the Taxpayer Advocate Service, said in her annual report to Congress Wednesday that... More »

Homeowners Line Up to 'Postpone the Pain'

They're prepaying 2018 property taxes to avoid getting socked by deduction cap in new tax bill

(Newser) - While many people this week are queued up at retailers to return holiday gifts, "unprecedented" lines are forming at municipal offices around the country as homeowners hurry to prepay 2018 property taxes before the new GOP tax bill goes into effect on Jan. 1, reports the Wall Street Journal ... More »

With Trump Poised to Sign Tax Bill, Pity Long Islanders

Nearly half of homeowners there would be hit by property tax cap

(Newser) - "Today we are giving the people of this country their money back," proclaimed Paul Ryan Tuesday as the House passed a sweeping rewrite of the tax code (it has to vote again Wednesday because of this glitch ). That's likely not the case for current and future... More »

McCain Likely to Miss Crucial Vote on Tax Bill

Senator has returned to Arizona for treatment

(Newser) - Sen. John McCain has gone home to Arizona to recover from the side effects of chemotherapy, meaning he's likely to miss a vote on the Republican tax reform plan expected this week. After days of speculation about the 81-year-old senator's health, daughter Meghan McCain tweeted Sunday that he'... More »

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