Tax eBrief: Obama sees leverage in tax fight, and more

Tax eBrief Obama sees leverage in tax fight Image

White House strategists say they believe that a constant drip of bad news will emerge in Congressional districts across the country in the weeks ahead, putting Republicans on the defensive for their refusal to raise taxes. Continue reading

Tax eBrief: EU financial transactions tax to go global, and more

Tax eBrief: EU financial transactions tax traders - REUTERS/Ralph Orlowski

The new EU financial transactions tax levy is due to take effect next year and will be a significant money-raiser for the 11 nations that have signed on, bringing in an estimated $45 billion annually. Continue reading

Tax eBrief: Republicans move to rally against tax increases, and more

Tax eBrief: Tax Increases - Capitol Hill - REUTERS/Kevin Lamarque

Republicans, who last month let taxes rise on incomes over $400,000 to avert broader tax increases and the “fiscal cliff,” are now ready to stand their ground, regardless of the military cuts. Continue reading

Tax eBrief: Return of Federal Payroll tax hits retailers, and more

Tax-eBrief-Federal-Payroll-Tax-REUTERS-Lucas-Jackson-shopping-300x186_130222

The recently restored federal payroll tax that has left Americans with less money to spend. Wal-Mart Stores Inc. on Thursday joined a parade of retailers, restaurants and consumer-goods companies worried about the economic impact. Continue reading

Tax eBrief: Simpson, Bowles attempt to revive deficit plan, and more

Tax eBrief: Deficit Plan REUTERS Simpson Bowles

Deficit hawks Alan Simpson and Erskine Bowles on Tuesday will propose a detailed plan for rewriting the tax code and implementing deep new spending cuts, hoping to offer a path to compromise for Democrats and Republicans, according to an outline of the deficit plan. Continue reading

Tax eBrief: Married couples face marriage penalties and bonuses, and more

Tax eBrief: Marriage Penalties and Bonuses - REUTERS/Mike Segar

Being married subjects couples to marriage penalties and bonuses. Some couples see raised taxes “marriage penalty”, and lowered taxes for others “marriage bonus”. The marriage penalty is especially pronounced for married couples earning above $300,000. Continue reading