Tax Plaza

Taxation in the News

Big medical bills may add up to qualified tax breaks
(Detroit news photo illustration / Photos from isto) Taxpayers swamped by big medical bills in 2011 can get some relief when they file income tax forms this spring thanks to an overlooked deduction that is hard to reach in a typical year. The IRS lets

Feds targeting tax return fraud
Maybe you had a lapse of memory but most likely you have become the latest victim of tax fraud. The Internal Revenue Service and the Justice Department have been cracking down on suspected identity theft perpetrators to curb the growing issue of refund

China bars airlines from EU tax plan
Chinese airlines had previously said they would not pay the EU carbon tax, but the formal prohibition by the State Council, or cabinet, pits Beijing in direct opposition to Brussels. The announcement, published on Monday by Xinhua, the official news

Tax tips for February
Folks who have been victims of tax identity theft should have gotten a special Identity Protection PIN (personal identification number) by now, according to David Mellem, an enrolled agent in Green Bay, Wis. Julianne Breitbeil, an IRS spokeswoman,

EU Transactions Tax Will Hit Hardest in London, ITEM Club Says
6 (Bloomberg) -- A proposed European tax on financial transactions may cost British-based companies as much as 22 billion euros ($29 billion) a year and cause 4500 job losses whether the UK agrees to it or not, according to Ernst & Young LLP's ITEM

A Salve for a Taxing Moment: The Vodafone Ins...
The two judges did not think that Vodafone's purchase of Hutch's business was done in a manner to avoid taxes. The two judges also said that the shares that gave Vodafone control over Hutch's telecom business in India were registered outside the

Paper tax forms getting harder to find
But increased usage of online tax-preparation software has changed the way people file their taxes, IRS spokeswoman Peggy Riley said. 'When more and more people are using electronic filing, you don't need to have that paper tax document anymore,' Riley