Obama Suggests Any ‘Cliff’ Deal Would Be Small
SAUL LOEB/AFP/Getty Images(NEW YORK) — With less than two days remaining for Congress to reach a budget agreement that would avoid the so-called “fiscal cliff,” President Obama on Sunday suggested that a small deal remains the best hope to…
IRS Year-End Tax Saving Tips
iStockphoto/Thinkstock(NEW YORK) — While the looming fiscal cliff makes America’s financial future uncertain, what is certain is that taxpayers will shell out more money to the government in 2013.And while it’s impossible to determine exac…
Lindsay Lohan Using Charlie Sheen Money to Pay Off Taxes
ABC News(LOS ANGELES) — Lindsay Lohan’s reported debt has shrunk somewhat. TMZ.com reports the actress has forked over the more than $93,000 in taxes she owed the IRS for the year 2009 — thanks to the $100,000 donation made to her by her Scary …
Fiscal Cliff Debate May Delay Tax Refunds in 2013
iStockphoto/Thinkstock(NEW YORK) — If you depend on an early tax refund to help pay for large holiday credit card bills you could be out of luck. The last-minute debate over the fiscal cliff may delay tax refunds in the new year. The IRS is like…
ABC News EXCLUSIVE: President Obama Predicts GOP Will Cave on Taxes
Official White House Photo by Pete Souza(WASHINGTON) — As the clock ticks toward a tax hike on all Americans in 20 days, President Obama predicted Republicans would join Democrats to extend current rates for 98 percent of earners before the end of the…
Stephen Baldwin Charged with Skipping Taxes
Jason LaVeris/FilmMagic(NEW YORK) — Stephen Baldwin was arrested and charged Thursday with failing to pay three years’ worth of New York state income tax, according to the New York Daily News.A district attorney in Rockland County says Baldwin didn’t …
Report: Lindsay Lohan Insists She’s Not to Blame for Her Tax Issues
ABC News(LOS ANGELES) — A source close to Lindsay Lohan says the actress is “freaking out” about her problems with the IRS, but insists she didn’t know anything about it and it’s not her fault, the New York Post reports.TMZ reported Monday that Lohan …
GAO Report: Alarming Rise in IRS Refund ID Thefts, Few Prosecuted
iStockphoto/Thinkstock(WASHINGTON) — A new government report charts an alarming rise in tax return refund identity thefts and finds that few of the thefts are even investigated by the Internal Revenue Service (IRS).The U.S. Government Accountability O…
Poll: Among Cliff-Avoidance Options, Most Favor Targeting Wealthy
Ingram Publishing/Thinkstock(NEW YORK) — With the fiscal cliff drawing closer, raising taxes on wealthy Americans remains a popular option. The public divides closely on reducing federal income tax deductions, while two-thirds oppose another possibili…
Small Business Owners Stand with President Obama on Taxes
Official White House Photo by Pete Souza(WASHINGTON) — Small business owners emerged from the White House Tuesday confident that President Obama is committed to ending tax cuts for the wealthy and preserving tax breaks for the middle class as he works…
Obama, GOP Mount ‘Fiscal Cliff’ Campaign Blitz
JIM WATSON/AFP/GettyImages(WASHINGTON) — President Obama, Republican lawmakers and an army of independent advocacy groups are mounting an aggressive new public campaign to highlight the stakes in a deal to avoid an economically toxic package of automa…
Violating Norquist’s No-Tax Pledge Could Hurt GOP in 2014
NICHOLAS KAMM/AFP/Getty Images(WASHINGTON) — The most talked about name in the opening weeks of the fiscal cliff negotiations isn’t President Obama, House Speaker John Boehner or Senate Majority Leader Harry Reid. It’s Grover Norquist.Norquist i…
White House Warns Tax Hike Will Curb Consumer Spending
iStockphoto/Thinkstock(WASHINGTON) — An Obama administration report out Monday says the typical American household will pay $2,200 in additional taxes next year if the so called Bush-era tax cuts for the middle class are allowed to expire.The findings…
Charlie Sheen Gives Lindsay Lohan $100,000
Stefania D’Alessandro/Getty Images for amfAR(LOS ANGELES) — Charlie Sheen gave Lindsay Lohan an early Christmas present in the form of a $100,000 check to cover the actress’ huge tax bill, according to TMZ.com. Sources tell the site that Sheen and Loh…
GOP Starting to Rebel Against No-Tax-Hikes Pledge
NICHOLAS KAMM/AFP/Getty Images(WASHINGTON) — With the fiscal cliff looming for the United States, some Republican members of Congress said on Sunday that they are ready to break a long-standing pledge not to raise taxes.”The only pledge we should be m…
Nancy Pelosi: No Fiscal Cliff Deal Without Tax Rate Hike for Wealthy
Official White House Photo by Pete Souza(WASHINGTON) — In an interview that will air in its entirety on Sunday’s This Week, House Democratic Leader Nancy Pelosi gave ABC’s Martha Raddatz a firm “no” when asked if a deal to aver…
Boehner Exclusive: Raising Tax Rates ‘Unacceptable’ but New Revenue on Table
Martin H. Simon/ABC(NEW YORK) — Raising tax rates is “unacceptable” to House Speaker John Boehner as he prepares to open negotiations on the looming “fiscal cliff” with the president and congressional Democrats, he told World News anchor Diane Sawyer …
California Approves Higher Taxes to Save the State and Schools
iStockphoto/Thinkstock(SACRAMENTO, Calif.) — With the state billions in the red, California voters on Tuesday passed Proposition 30 by about eight percentage points that both boosts the sales tax and puts heavier income taxes on the rich.Gov. Jerry Br…
Biden Sees ‘Clear Sort Of Mandate’ on Taxes
ABC News(CHICAGO) — During a flight Wednesday between Chicago and New Castle, Del., Vice President Joe Biden told reporters that the election provided a “clear sort of mandate” on the issue of taxes as he and the president prepare to handl…
Economist Who Advises Romney: ‘Rich Are Taxed Enough’
David Paul Morris/Bloomberg via Getty Images(NEW YORK) — “The rich are taxed enough,” argued Columbia Business School Dean Glenn Hubbard.The man who The New York Times called Mitt Romney’s “go-to economist” and who is con…