A big-box store is, by definition, well, big. All that retail, storage, and parking space takes up a fair amount of land. So you’d think that in any state with a property tax, stores would, well, be taxed on their property. And they are… until they’re not.
After the European Union antitrust commissioner announced earlier this week that Apple received preferential treatment in terms of taxes and owes Ireland €13 billion or so for 10 years’ worth of back tax, Apple CEO Tim Cook is calling the whole thing “total political crap.” [More]
That thing where corporations do anything they can to pay as little tax as possible doesn’t just hit inside the U.S. Companies that relocate part of their operations overseas to avoid an American tax bill still have to pay the taxes they owe to the countries they’re in, and that’s what European antitrust regulators say Apple hasn’t properly done.
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]
Uber or Lyft will soon be supporting their biggest rivals in the Old Bay State, thanks to a newly signed law regulating the ride-hailing industry. In all, Massachusetts will tack on a $.20/ride fee for these newer companies, with the revenue being divided up between the state, cities, and the taxi industry. [More]
You know what giant corporations really hate to do? Spend lots of their revenue on taxes. And you know what they have to do anyway? Exactly that. But the IRS is saying that Facebook may not have done enough of it, in past years, and may be on the hook for a big fat chunk of cash overdue to the U.S. government.
As we’ve discussed in the past, even in states where recreational marijuana is now legal, businesses are still figuring out how the heck to handle their financial obligations like banking and paying taxes, as the drug remains a Schedule I controlled substance in the eyes of the federal government. Oregon has now figured out a safe way for weed dealers to pay the taxes they owe the state, and the process sounds like something out of a movie. [More]
Before any of you wake up in a panic this morning, realizing it’s April 15 and you haven’t filed your annual tax return, remember that Tax Day is actually April 18 this year. That’s because Emancipation Day (April 16) falls on a Saturday this year. This holiday — recognized in Washington, D.C. — is being observed today, meaning the D.C.-based IRS office is closed for the day. So enjoy the extra few days, but remember that you’ll still have to file (at least an extension) after the weekend is done.
Back in January, the Internal Revenue Service made it clear that taxpayers had until April 18 to file their federal income taxes. Apparently, Apple’s calendar didn’t get the message. [More]
Jonesing for a Slurpee and still need to pay your taxes? You can kill two birds with one stone with the Internal Revenue Service’s new payment option: taxpayers can fork over what they owe in cash at one of the participating 7,000 7-Eleven locations in the country. [More]
Five months after Pfizer and Allergan announced they would combine households to create the world’s largest drug company, the betrothed say the wedding is being called off. [More]
Each year during tax time millions of consumers put their financial future in the hands of strangers, trusting that these tax preparers — who are largely unregulated — know the rules, will get them the best possible result (hopefully a refund), and won’t sell them on a product that costs more than it’s worth. But in the world of complicated tax codes and credits, consumers continue to face a long list of risks, including untrained preparers, undisclosed fees, and dangerous refund anticipation products. [More]
You might love your mother enough to get her name tattooed on your arm, but what about the Internal Revenue Service? Though it’s unlikely that your average taxpayer would permanently ink the agency’s name on their dermis out of sheer love, some Americans say they’d get an IRS tattoo if it meant they would never have to pay taxes again. [More]
Any help graduates can get when it comes to repaying their mountains of student loan debt is often welcome: from cities offering debt forgiveness to keep young adults in their areas to programs in which states will pay for portions of their education. Now, more employers are jumping on the assistance train by providing student loan payment contributions as part of their compensation plans. [More]