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Law & Taxation

Steps to Getting Early Tax Refund

Mon, 02/14/2011 - 16:51 by Gunjan Mehra

Though February is already here, you still have enough time to file for your income tax and claim an early return thereon, before the rush sets in.

Tax Filling Post Divorce: Intricacies Involved

Mon, 01/10/2011 - 11:19 by Gunjan Mehra

The complexities of a recent divorce only seem to get magnified while filling for your taxes. The Money Times guides you on filling for taxes post your marital separation.

H&R Block to cut 400 jobs to trim costs

Thu, 05/20/2010 - 08:59 by harsheeb

Kansas -- U.S. tax service H&R Block said Wednesday it would eliminate 400 positions in an effort to trim costs in a "challenging" business environment.

"We operate in a challenging and competitive environment, and to be successful we must find new ways to provide better value to our clients," President and Chief Executive Officer Russ Smyth said in a statement.

The company said it closed 400 under-performing offices out of 11,000 retail tax service locations.

The recent cuts are expected to reduce operating costs by about $145 million per year through 2012.

"Changes like these are never easy … However, these steps are necessary to improve our business performance and better serve our clients," Smyth said.

U.S. census forms start arriving in mailboxes

Mon, 03/15/2010 - 21:55 by Neha Gupta

As per the once-a-decade population survey policy of the U.S government, more than 120 million census forms have been posted to the residents throughout the nation.

These Stocks Tax You Twice

Wed, 01/27/2010 - 12:46 by Selena Maranjian

Paying taxes once on your investments can be painful enough. But many people don't realize that dividend investments can double the IRS's chances to reach into your wallet -- unless you take advantage of a clever, simple strategy to block the tax man.

States keep their eye on offshore accounts

Mon, 10/05/2009 - 20:53 by Inderjit Singh

Washington -- Several states have joined the U.S. government in granting time-limited leniency for taxpayers who have hidden funds in offshore bank accounts.

The IRS program, sparked by a legal battle with Swiss bank UBS, has prompted more than 3,000 taxpayers to step forward to reveal their offshore holdings, USA Today reported Monday.

UBS has agreed this year to forward the names of thousands of its U.S. clients. Earlier, the bank agreed to pay $780 million in restitution to the U.S.
government for helping taxpayers evade the Internal Revenue Service.

Through Oct. 15, the IRS has promised to reduce fines and not file criminal charges against taxpayers who volunteer to step forward.

5 Top 3-Digit Stocks

Tue, 09/22/2009 - 01:22 by Rich Duprey

True penny stocks are a minefield, but small-cap copper beauties can be one way to easily double your money.

Hiring a Tax Agent

Thu, 04/30/2009 - 16:13 by Daisy Sarma

One of the things you loathe is sitting down and sorting out your taxes. You are happier having someone tell you ‘this is the amount of tax you will have to pay for this year’ and paying it out, rather than sitting down and going through the painful process of calculating the tax due.

US House, Senate approve 2010 budget outline

Fri, 04/03/2009 - 11:47 by rcrchauhan

Washington, April 3 -- US lawmakers Thursday approved a $3.5-trillion budget outline for 2010 that closely mirrors President Barack Obama's priorities for the country.

The vote in the House of Representatives was 233-196, largely along party lines, and came after weeks of polarising debate that exposed deep differences between majority Democrats and opposition Republicans over how to resuscitate the US economy.

The Senate voted 55 to 43 on a slightly different version of the 2010 budget proposal, which will require lawmakers from both chambers to forge a compromise in the coming weeks.

Senate majority leader Harry Reid said that the "responsible" budget "will start cleaning up the mistakes of the past and make critical investments in our future".

$720 tax relief to small businesses

Sun, 03/29/2009 - 16:32 by Pankhuri kapoor

Canberra, March 30: Slashing the pay as you go tax by 6 percent, the federal government of Australia is all set to relieve the small business owners and self funded retirees.

The initiative was launched in a joint conference addressed by Craig Emerson and Wayne Swan on March 28.

The 720 million dollar tax relief plan would be effective from July 1 this year and will improve the taxpayers’ cash flow in the hard hitting times of recession.

“Small businesses across the country are the backbone of our economy. That's why the Rudd Government is determined to do everything we can to help small businesses in the face of the global recession which is hitting the Australian economy,” said Wayne Swan, the treasurer.

Hi-5 to Save Tax

Fri, 01/30/2009 - 15:07 by Shivani Thapa

Judge keeping R. Kelly documents sealed

Sun, 05/18/2008 - 14:35 by MT Bureau

Chicago -- Court documents in the child pornography trial of singer R. Kelly will remain sealed despite a media request to see them, a judge in Chicago has ruled.

Cook County Judge Vincent Gaughan wrote in his decision this week that despite a request from multiple news organizations, court documents related to the case would remain sealed until the end of the trial in the interest of fairness, the Chicago Sun-Times reported Saturday.

"Of paramount concern is that the defendant gets a fair trial," Gaughan said in his decision. "The torrent of media interest in this case has prompted entry of the order which prevents the serious and imminent threat that this case would be tried in the media."

While the judge's decision significantly limits media coverage of the 41-year-old "Ignition" singer's trial, he did recognize how important the media has become in today's legal system.