Tax Law

Last December’s estate tax legislation was an exceptional present for families. For the next two years, tax laws were enacted to raise the gift-tax exemption from $1 million to $5 million for individuals and from $2 million to $10 million … Continue reading →

Last December’s estate tax legislation was an exceptional present for families. For the next two years, tax laws were enacted to raise the gift-tax exemption from $1 million to $5 million for individuals and from $2 million to $10 million … Continue reading →

“He’s looking at options to lower the loss of revenue by closing corporate loopholes in other parts of the tax law,” said spokeswoman Brooke Anderson. The legislation, sponsored by Senate President John Cullerton (D-Chicago), is expected to come …

WASHINGTON (AP) — Both parties in the House are ready to vote to repeal a law requiring federal, state and local governments to withhold 3 percent of their payments to contractors. The 5-year-old law was designed to force scofflaws who … Continue reading →

WASHINGTON (AP) — In a rare show of unity in a bitterly partisan year, the House voted overwhelmingly Thursday to repeal a law requiring federal, state and local governments to withhold 3 percent of what contractors are owed until they … Continue reading →

In a rare show of unity in a bitterly partisan year, the House voted overwhelmingly Thursday to repeal a law requiring federal, state and local governments to withhold 3 percent of what contractors are owed until they pay their taxes. … Continue reading →

PHOENIX (AP) — A lawsuit has been filed seeking to block a new state law that would bar tax breaks for those who donate to groups involved with abortion providers. The Arizona Republic (http://bit.ly/utjttR) says the suit was filed Wednesday … Continue reading →

Under the new law Christie signed on July 1, a cut in payroll taxes that will save workers a total of $190 million statewide in 2012. Payroll deductions that are withheld from employees’ paychecks and put into the state’s Temporary … Continue reading →

WASHINGTON – Both parties in the House are ready to vote to repeal a law requiring federal, state and local governments to withhold 3 percent of their payments to contractors. The 5-year-old law was designed to force scofflaws who perform … Continue reading →

Against a backdrop of thousands of government contractors underpaying their taxes by billions of dollars, Congress decided in 2006 to start withholding 3 percent of the contracted price until taxes owed are paid. It never happened. Five years later, both … Continue reading →