As if waking up on Jan. 1 after a few too many glasses of bubbly the night before isn’t painful enough, drivers in seven states will be starting off the new year with higher gas prices, thanks to new taxes. [More]
a taxing situation
A few months back, the city of Philadelphia became just the second city in the U.S. to successfully pass a tax specifically on soft drinks, adding $.015/ounce to the price a distributor pays for sodas — including diet drinks — and other sweetened beverages. As expected, the beverage industry has fired back with a lawsuit challenging this tax, alleging that it illegally duplicates a state tax and diminishes the purchasing power of low-income Philadelphia residents. [More]
With billions of state and local tax dollars going un-collected each year because a number of online retailers either aren’t required to collect the taxes or are shirking their responsibilities, a proposal circulating around Congress takes a new “simplified” (but really kind of complex) approach to get more e-tailers collecting sales tax. [More]
If you’ve been renting out your home in San Francisco through services like Airbnb and HomeAway, you’re about to start paying more taxes. The city is notifying hosts that they’ll have to submit an itemized list for items like dishes, bedding, and any other supplies they purchase for their rentals. [More]
Should tampon sales be taxed by the state? Five Manhattan women don’t think so, and have filed a lawsuit against New York’s Department of Taxation and Finance saying it should be tax-free.
Walmart recently announced a service that allows consumers who use certain participating tax preparers to pick up their refunds at a Walmart store. The program already has one high-profile detractor in the form of Connecticut Commissioner of Revenue Services Kevin Sullivan who says he believes the program is intended to get consumers to spend their refunds at Walmart. [More]
Here’s something you might have missed — there could soon be a new tax on your broadband Internet service, if the Federal Communications Commission has its way. The proposed tax would go toward ensuring more people have access to the Internet, along the lines of the taxes already consumers pay for landlines and cellular phone service.
Once again, it’s time for the annual Institute for Policy Studies report on which top CEOs are earning more money than the companies they work for are paying out to federal government in taxes.
Back in 1994, a Georgia woman received two county tax bills in the mail — one addressed to her, and a second addressed to a man with the same, incredibly common last name, but whom she’d never heard of and whose address was invalid. She paid off the former immediately and ignored the latter. Little did she know that, 13 years later, this goof by the county would land her in court trying to save her house from being taken away from her.
Last year, Illinois joined the ranks of states passing laws requiring Amazon and other online-only retailers to collect sales tax on purchases by that state’s residents. Yesterday afternoon, a judge in Cook County, IL, surprised a lot of people by ruling this law violates the U.S. Constitution.
We certainly don’t want to give comfort to tax cheats — and we’re not trying to imply that any of our beloved readers are anything less than honest when filing their tax returns — but for those who dread a random audit, there’s some good news: Budget and staff cuts at the IRS will likely mean fewer audits.
As you might have noticed, a number of companies have shut their doors over the last few years. Making matters worse for the former employees of some of those businesses is that they still have to file their tax returns — but no one wants to give them a W-2.
If you received a bunch of miles from Citi for signing up for one of the bank’s credit cards or rewards-earning accounts, be on the lookout for a 1099-Misc tax form coming in the mail, as Citi has decided that these miles have a taxable value.
As we reported last week, the inability for Congress to come to terms on a bill that would extend the FAA’s operating authority means that airlines are not currently charging federal taxes on airfares. But if you’re not seeing any difference in the final price of your ticket, that’s because most airlines have increased their fares since Saturday.
Unless Congress can hammer out their issues over extending the FAA’s operating authority by midnight tonight, 4,000 agency employees will be temporarily out of a job, but travelers will be able to but airline tickets without paying federal taxes.
The saga of the NY Yankees fan who caught — and then gave back — the baseball Derek Jeter knocked out of the park for hit number 3,000 continues. First, the team rewarded the fan with memorabilia and luxury box tickets for the rest of the season. Then came reports that he could be on the hook for thousands of dollars in taxes for the freebies. Today he got some potentially good news, as the folks at Miller High Life say they’ll foot the bill for any potential tax liability the guy might have.