National taxes

Spain looks to adopt digital tax that has angered the US

Feb. 18, 2020 8:46 AM EST

LISBON, Portugal (AP) — Spain’s government approved Tuesday the introduction of new taxes on digital business and stock market transactions, following similar steps by other European countries. The Cabinet agreed at its weekly meeting to adopt the so-called Google tax and Tobin tax. The measures...

European Commissioner for An Economy that Works for People Valdis Dombrovskis, left, speaks with European Central Bank Vice-President Luis de Guindos, right, and President of the European Investment Bank Werner Hoyer during a meeting of EU finance ministers at the Europa building in Brussels, Tuesday, Feb. 18, 2020. EU finance ministers meet Tuesday to discuss tax havens. (AP Photo/Virginia Mayo)

EU puts Cayman Islands, others on tax blacklist

Feb. 18, 2020 8:40 AM EST

BRUSSELS (AP) — The European Union has added four countries and jurisdictions to its blacklist of tax havens , including the British overseas territory Cayman Islands. EU finance ministers decided to also add Palau, Panama and the Seychelles to the list of jurisdictions that have not implemented the...

In this Feb. 4, 2020, photo, Tony Rankins, center in red tie, receives a standing ovation during the State of the Union address to a joint session of Congress on Capitol Hill in Washington. Rankins, a formerly homeless, drug-addicted Army vet, got the standing ovation after President Donald Trump described how he turned his life around thanks to a construction job at a company using the administration’s “Opportunity Zone” tax breaks targeting poor neighborhoods. Rankins, a tradesman who has indeed moved out of his car and into an apartment since landing the job refurbishing a Nashville hotel two years ago, doesn’t work at a site using the tax breaks and never has. (AP Photo/Susan Walsh)

White House defends Trump after AP report on homeless vet

Feb. 14, 2020 5:49 PM EST

The White House defended President Donald Trump on Friday after an Associated Press report that he stretched the truth in his State of the Union account of a formerly homeless veteran who turned his life around with a job at a company that is taking advantage of Opportunity Zone tax breaks. The AP report found...

FILE - In this Wednesday, Oct. 23, 2019 file photo, Facebook CEO Mark Zuckerberg testifies before a House Financial Services Committee hearing on Capitol Hill in Washington on Facebook's impact on the financial services and housing sectors. Facebook CEO Mark Zuckerberg plans to throw his support behind international reforms that would require Silicon Valley tech giants to pay more tax in Europe. (AP Photo/Andrew Harnik, File)

Zuckerberg accepts that Facebook may have to pay more tax

Feb. 14, 2020 8:35 AM EST

LONDON (AP) — Facebook CEO Mark Zuckerberg plans to throw his support behind international reforms that would require Silicon Valley tech giants to pay more tax in Europe. The billionaire social network founder is due to meet members of the European Union's executive Commission in Brussels and speak at the...

FILE - This April 6, 2018, file photo shows the leaves of a marijuana plant inside Ultra Health's cultivation greenhouse in Bernalillo, N.M. New Mexico would legalize recreational marijuana sales without exceptions for dissenting cities and counties under a rebooted proposal form legislators that emphasizes small business opportunities and ready access to pot for 80,000 current medical cannabis patients. Legalization for the first time enjoys the full throttled support of second-year Democratic Gov. Michelle Lujan Grisham, who set up a volunteer commission last year to vet health and public safety concerns about recreational cannabis and on Thursday, Jan. 16, 2020, pitched the benefits of the pot economy to a gathering business leaders. (AP Photo/Susan Montoya Bryan, File)

New Mexico bid for recreational marijuana is all but doomed

Feb. 13, 2020 7:50 PM EST

SANTA FE, N.M. (AP) — New Mexico's bid to become the 12th U.S. state to legalize recreational use of marijuana abruptly fell flat after state senators in a legislature dominated by Democrats rejected a bill that would have forced permission for sales in all of the state's cities and towns. In a late-night...

FILE- This Feb. 13, 2019, file photo shows multiple forms printed from the Internal Revenue Service web page that are used for 2018 U.S. federal tax returns in Zelienople, Pa. The majority of individual taxpayers in the U.S. are eligible to file their taxes for free, yet many may be unaware or confused by how to do so. Improvements have been made and Free File should be easier to use in 2020. But, with tax season getting into full gear, users should be aware of the details of the service and alternatives. (AP Photo/Keith Srakocic, File)

Free tax filing has confused many Americans. Here's help.

Feb. 13, 2020 3:51 PM EST

The majority of individual taxpayers in the U.S. are eligible to file their taxes online for free, yet many may be unaware or confused by how to do so. The tax industry and the IRS have played a part in the problem. Together they run the IRS Free File system, which about 70% of taxpayers are eligible for but...

FILE - In this Nov. 29, 2017 file photo, Seema Verma, administrator of the Centers for Medicare and Medicaid Services, speaks during a news conference in Newark, N.J. Governors of both parties are warning that a little-noticed regulation proposed by the Trump administration could lead to big cuts in Medicaid, restricting their ability to pay for health care for low-income Americans. (AP Photo/Julio Cortez, File)

Governors warn Trump rule could lead to big Medicaid cuts

Feb. 6, 2020 6:54 AM EST

WASHINGTON (AP) — Governors of both major political parties are warning that a little-noticed regulation proposed by President Donald Trump's administration could lead to big cuts in Medicaid, reducing access to health care for low-income Americans. The arcane fiscal accountability rule proposed by the...

FILE - In this Jan. 29, 2020, file photo, a shopper walks in a street market aimed for Chinese tourists in Bangkok, Thailand. The outbreak of new virus centered on the Chinese city of Wuhan is giving global business chills. Thailand's central bank cut its benchmark interest rate to 1% from 1.25% on Wednesday to help the economy weather a series of setbacks, most lately the virus outbreak in China that has devastated its tourism sector. (AP Photo/Gemunu Amarasinghe, File)

Asian economies cut rates, move to blunt impact of virus

Feb. 6, 2020 3:51 AM EST

BANGKOK (AP) — Central banks in the Philippines and Thailand have cut their benchmark interest rates as China's neighbors seek ways to soften the impact of measures to contain a virus outbreak that has killed more than 560 people. The Philippine central bank cut its main policy rate on Thursday by 0.25...

Ex-tax collector sentenced for not reporting $3.7M in income

Feb. 5, 2020 2:54 PM EST

NEWARK, N.J. (AP) — An accountant who was once a city tax collector has been sentenced for failing to report $3.7 million in income. Louis Picardo, 64, of Hoboken, was sentenced Tuesday to a year and a day in federal prison and must also pay $914,908 in restitution. He will have to serve two years of...

This Wednesday, Feb. 5, 2020 photo shows the W-4 form in New York. The IRS has introduced a new Form W-4 that must be used by all employers in 2020 to better accommodate recent changes to the tax law. It's the biggest overhaul of the form in decades. It can require a bit more legwork but in return, the IRS says it will yield more accurate results. (AP Photo/Patrick Sison)

What for W-4? Why you should care about the new tax form

Feb. 5, 2020 12:27 PM EST

If you are starting a new job this year, or just want to update your tax information with your employer, some of the paperwork is going to look different. A lot different. The IRS has introduced a new Form W-4 that must be used by all employers in 2020 to better accommodate recent changes to the tax law. The...

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