America Tax News

President Trump: What Does It Mean For Your Tax Bill?

Donald Trump was elected the 45th President of the United States last night, and while I allow that to sink in for a bit, it’s also worth nothing that Republicans retained control over the House and Senate. As a result, the ...

How the Trump and Clinton tax plans would affect Americans

For America's wealthiest families, the presidential campaign presents a stark choice: A big tax increase if Hillary Clinton wins the election — or a big tax cut if Donald Trump wins. For everyone else? Right now, neither candidate is proposing major tax changes. Tax ...

What is the US Olympic "Victory Tax"?

She has flipped, tumbled and leapt her way into the hearts of millions over the course of the Olympic games. But when Simone Biles returns home she will be in for not just a major celebration but also a hefty ...

Here's how much Hillary Clinton's tax plan would hit the rich

Hillary Clinton has often said she wants the rich to pay their "fair share." Translation: More. And the bevy of tax proposals she's put forth so far would certainly raise the tax burden of the country's highest earners, according to ...

Trump touts sweeping, and costly, tax-cut plan

GOP presidential candidate Donald Trump unveiled Monday the latest version of his plan to overhaul the American tax code, offering relief for everyone from parents paying for child care to the world's largest corporations. But it remains to be seen where the ...

Tax Moves To Make For A Clinton--Or Trump--Presidency

Robert Gordon, the president of Twenty-First Securities Corp., is something of a guru when it comes to tax efficient investing. He writes and lectures widely on the topic, and has created the visualization below showing the likelihood of various tax outcomes depending on which political party controls the White ...

Philadelphia Approves Tax on Soda, Sugary Drinks

If you visit Philadelphia and want to quench your thirst with a Coke, get ready to pay more. The fifth-largest U.S. city Thursday enacted a tax of 50 cents per liter on sweet sodas and other soft drinks with sugar ...

America’s Cosmic Tax Gap

The folks working for the federal government can do some incredible things. Over at NASA, for instance, they’re now putting the finishing touches on the new James Webb Space Telescope — an instrument The Washington Post says will be powerful enough “to capture the ...

Trump says taxes on rich ‘may go up’

Presumptive US Republican nominee Donald Trump has said taxes for rich people may have to go up in an apparent reversal of his stated policy. "On my plan they're going down. But by the time it's negotiated, they'll go up," Mr Trump ...

Panama Papers and America's problem

Anonymous shell corporations and secret bank accounts are vital resources for those engaged in tax evasion and money laundering. But this web of secrecy has started to crumble in recent years due in part to revelations from whistle-blowers embedded in ...

America’s Worldwide System of Taxation is Outdated and Ineffective

The U.S. tax system has not been updated since 1988. Since then, the world has changed significantly as the global economy has developed, new trade agreements have entered into force, and technological advancements have changed the way business is done. ...

Time To Kill Corporate Tax?

The rich nations are currently responding to the increasing prevalence of tax avoidance by multinational corporations by attempting to rewrite the entire international corporate tax rule book. But instead of embarking on what is likely to be a very arduous ...

IRS Issues 2016 Non-Resident Withholding Tax Guide

The US Internal Revenue Service (IRS) has updated Publication 515, Withholding of Tax on Nonresident Aliens and Foreign Entities, which covers the obligations of the persons responsible for withholding tax (withholding agents). It is specified that the Publication is for ...

The biggest loophole of all - Having launched and led the battle against offshore tax evasion, America is now part of the problem

DEVIN NUNES raised eyebrows in 2013 when, as chairman of a congressional working group on tax, he urged reforms that would make America “the largest tax haven in human history”. Though he was thinking of America’s competitiveness rather than turning ...

2016 US model tax treaty differs significantly from draft version, practitioners say

US Treasury has published an updated US model tax treaty, making significant revisions to the text of draft treaty provisions released last May. The 2016 US Model Income Tax Convention, published on Wednesday, will be used as baseline text by the Treasury ...

Bill To Terminate US Tax Code Gets 100th Cosponsor

The US House of Representatives Judiciary Committee Chairman, Bob Goodlatte (R – Virginia), has welcomed the 100th cosponsor to the Tax Code Termination Act, which would repeal the current tax code by December 31, 2019. It would require a two-thirds ...

Neymar’s assets, including yacht and jet, frozen in Brazil

Brazilian authorities have moved to block assets of Barcelona star Neymar, including a yacht, a jet and several properties in his home nation. The Sao Paulo federal court has started issuing warrants to freeze the assets worth 192 million reals ...

All-male Utah panel votes to keep sales tax on tampons

A Utah committee of all-male lawmakers has voted to keep the sales tax on tampons and other feminine hygiene products despite an international push to remove it. The members of a taxation forum on Wednesday evening voted 8-3 against removing ...

Bernie Sanders’s Tax Plan Would Test an Economic Hypothesis

In the Democratic presidential primary, Bernie Sanders is calling for a political revolution, saying his movement can sweep in policy changes that would seem impossible in traditional American politics. One of the ideas Mr. Sanders has advanced is more revolutionary than it ...

Obama proposes $10 a barrel oil tax

President Obama has released the final budget proposal of his presidency, a $4.1tn (£2.8tn) programme that includes a $10.25 per barrel tax on oil. The Republican-controlled Congress is expected to reject it. The leaders of the House and Senate budget ...