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States

As oil boom goes bust, Oklahoma protects drillers and squeezes schools

NEWCASTLE, Okla. (Reuters) – After intense lobbying, Oklahoma’s oilmen scored a victory two years ago. State lawmakers voted to keep in place some of the lowest taxes on oil and gas production in the United States – a break worth $470 million in fiscal year 2015 alone. The state’s schools haven’t been so fortunate. In […]

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Social service groups sue Illinois for $100 million over unpaid work

Social service groups sue Illinois for $100 million over unpaid work

CHICAGO (Reuters) – Dozens of Illinois social service providers, starved of cash by the state’s long-running budget stalemate, sued Illinois Governor Bruce Rauner and six statewide agencies on Wednesday, seeking more than $100 million for unpaid work since July. The plaintiffs, who provide services for sex-abuse victims, the homeless, senior citizens and at-risk youth, are suffering […]

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More disaster victims in Mississippi qualify for tax relief

More disaster victims in Mississippi qualify for tax relief

Victims of recent severe storms and flooding in numerous states have more time to make tax payments and file returns if they are affected taxpayers in counties that have been designated as federal disaster areas qualifying for individual assistance. Certain other time-sensitive acts also are postponed. IRS has recently announced on its website that an […]

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Employers in Two States & Virgin Islands Could Pay Higher FUTA Rates in 2016

Employers in Two States & Virgin Islands Could Pay Higher FUTA Rates in 2016

California, Ohio, and the Virgin Islands have outstanding federal unemployment loan balances as of Mar. 28, 2016. Employers in these jurisdictions will pay 2016 federal unemployment tax (FUTA) at a higher rate than employers in other areas if the loans are not repaid by Nov. 10, 2016. Background. Employers pay FUTA tax at a rate of 6.0% […]

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After Jindal, Louisiana reels from corporate tax giveaways

After Jindal, Louisiana reels from corporate tax giveaways

(Reuters) – Near the end of his eight years as Louisiana governor, Bobby Jindal, a tax-slashing conservative and presidential hopeful, acknowledged that the state’s business tax breaks had gone too far. “The truth is, we have a system of corporate welfare,” Jindal said during an April speech to legislators. The comment resonates now as the […]

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Colorado can enforce its ‘Amazon tax’ law – U.S. appeals court

Colorado can enforce its ‘Amazon tax’ law – U.S. appeals court

(Reuters) – A federal appeals court endorsed a Colorado law designed to make it easier for the state to collect sales taxes on out-of-state purchases made over the Internet. Monday’s decision by the 10th U.S. Circuit Court of Appeals in Denver reversed a lower court ruling that blocked Colorado from enforcing its so-called “Amazon tax” […]

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U.S. man accused of using Craigslist to find fake tax dependents

U.S. man accused of using Craigslist to find fake tax dependents

KANSAS CITY, Mo. (Reuters) – A Missouri man has been charged with filing false U.S. tax returns after allegedly using Craigslist to find three children he could falsely claim as dependents, a federal prosecutor announced on Wednesday. A U.S. grand jury in Springfield, Mo., indicted Raheem McClain, 37, of Ozark, Missouri, on three counts of […]

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Disaster victims in Mississippi qualify for tax relief

Disaster victims in Mississippi qualify for tax relief

IRS has announced on its website that victims of the recent storms in counties of Mississippi that are designated as federal disaster areas qualifying for individual assistance have more time to make tax payments and file returns. Certain other time-sensitive acts also are postponed. This article summarizes the relief that’s available and includes up-to-date disaster […]

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Experts find in record $1.6 bln lottery, states not such big winners

Experts find in record $1.6 bln lottery, states not such big winners

DENVER/CHICAGO (Reuters) – The fervor around this week’s $1.6 billion Powerball jackpot will feed annual lottery ticket sales worth tens of billions of dollars, but public policy experts estimate only about a quarter of that revenue will ultimately make it into state coffers. Forty-four states plus Washington D.C. and two U.S. territories sold millions of […]

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Sprint loses bid to dismiss $300 million N.Y. tax fraud lawsuit

Sprint loses bid to dismiss $300 million N.Y. tax fraud lawsuit

(Reuters) – Sprint Corp must face a $300 million fraud lawsuit by New York state claiming the company deliberately failed to bill customers for taxes on its wireless services over seven years, the state’s top court ruled on Tuesday. The Court of Appeals in a 4-1 decision rejected Sprint’s claims that a 2002 state law imposing […]

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Bits ‘n Pieces – Yahoo’s tax options: bad or worse; Jeb Bush tax plans; Emanuel on sugary soft drinks tax; Internet is no longer tax-free; Trump on raising taxes

Bits ‘n Pieces – Yahoo’s tax options: bad or worse; Jeb Bush tax plans; Emanuel on sugary soft drinks tax; Internet is no longer tax-free; Trump on raising taxes

* Yahoo’s tax options: bad or worse. By Miriam Gottfried – The Wall Street Journal. To spin or not to spin? For Yahoo, that is an exceedingly complicated question. And for investors, there don’t look to be many good answers. Link to The Wall Street Journal, on.wsj.com/1UE2Lpx * Jeb Bush tax plan makes forays into […]

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Chicago middle-class homeowners could be spared proposed tax hike

Chicago middle-class homeowners could be spared proposed tax hike

(Reuters) – Middle-class homeowners may be exempt from a proposed property tax hike in Chicago, with higher-income homeowners and commercial property owners paying most of the roughly $500 million tax increase planned, Crain’s Chicago Business reported on Monday. The city’s goal is to ensure that those with homes worth up to the city median, about $200,000 […]

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National Rifle Association sues Seattle over ‘gun violence’ tax

National Rifle Association sues Seattle over ‘gun violence’ tax

SEATTLE (Reuters) – The National Rifle Association and other gun rights groups sued Seattle on Monday over a new tax on firearms and ammunition sales, arguing the city had violated a Washington state law barring municipalities from enacting local firearms regulations. Earlier this month, Seattle City Council unanimously approved a “gun violence tax” on sellers of firearms […]

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Bits ’n Pieces – GOP Obamacare dilemma hits presidential contest; LA losing $20 million a year; Rubio to Detroit; NY trying to create affordable housing; Cadillac tax plan, another perspective

Bits ’n Pieces – GOP Obamacare dilemma hits presidential contest; LA losing $20 million a year; Rubio to Detroit; NY trying to create affordable housing; Cadillac tax plan, another perspective

Republicans’ Obamacare ‘repeal and replace’ dilemma joins presidential contest. By David A. Fahrenthold and Jenna Johnson – The Washington Post. Since 2010, Republicans have pledged a legislative backflip that would please conservatives who despise the law’s every word and moderates who want to keep some of its benefits. They haven’t been able to do it. […]

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Disaster victims in Kentucky qualify for tax relief

Disaster victims in Kentucky qualify for tax relief

IRS has announced on its website that victims of severe storms, tornadoes, straight-line winds, flooding, landslides, and mudslides in counties of Kentucky that are designated as federal disaster areas qualifying for individual assistance have more time to make tax payments and file returns. Certain other time-sensitive acts also are postponed. This article summarizes the relief […]

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Bits ’n Pieces – Obama’s Cadillac tax causes employers to raise deductibles; LA taxpayers could share $92.5-million; Judge orders AZ to refund millions from car-rental tax, and more

Bits ’n Pieces – Obama’s Cadillac tax causes employers to raise deductibles; LA taxpayers could share $92.5-million; Judge orders AZ to refund millions from car-rental tax, and more

As Obamacare’s Cadillac Tax looms, employers raise deductibles, shift costs. Bruce Japsen – Forbes. Though employers won’t have to pay the “Cadillac tax” on rich medical plans until 2018, they are mitigating potential financial hits from it by spending more on wellness and shifting workers to high deductible plans so employees think twice about using […]

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U.S. states, cities to report money lost on corporate tax breaks

U.S. states, cities to report money lost on corporate tax breaks

(Reuters) – For the first time, state and local U.S. governments will be required to report how much money they lose on corporate tax breaks for economic development projects, according to a new accounting rule issued on Friday. The rule will “make the impact of these agreements much more apparent” and allow taxpayers and the […]

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Multitude of local authorities soak Illinois homeowners in taxes

Multitude of local authorities soak Illinois homeowners in taxes

(Reuters) – Mary Beth Jachec lives in a three-bedroom house in Wauconda, a village of 14,000 in Illinois, 45 miles northwest of Chicago. Her semi-detached brick home is unassuming. Her tax bills are not. The 53-year-old insurance manager gets a real estate tax bill for 20 different local government authorities and a total payout of […]

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Illinois governor proposes sweeping pension legislation

Illinois governor proposes sweeping pension legislation

CHICAGO (Reuters) – Illinois Governor Bruce Rauner on Wednesday unveiled pension legislation that calls for sweeping changes, including the ability to file for municipal bankruptcy, to save billions of dollars for the state and local governments. Illinois and its biggest city Chicago are sinking under huge public pension obligations that are draining money away from […]

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Obama touts union-friendly overtime rule in Walker’s Wisconsin

Obama touts union-friendly overtime rule in Walker’s Wisconsin

WASHINGTON (Reuters) – President Barack Obama will add some political edge to his push for more overtime pay for U.S. workers on Thursday by touting it in Wisconsin, where Republican Governor Scott Walker has made a name for himself by clashing with labor unions. Nearly 5 million more American workers would be made eligible for […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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