Tax writers have announced a "blank slate" approach to the tax code overhaul.
By Tory Newmyer, writer
FORTUNE -- Corporate tax lobbyists should cancel any vacations they planned to take next month. That's the upshot of a letter the Senate's two leading tax writers sent their colleagues today to put them on notice that their overhaul of the code is starting from scratch. In other words, every corporate carve-out -- for MOREJun 27, 2013 12:52 PM ET
By the time the final papers are shuffled, the IRS and local tax authorities are likely to seek more than half a billion dollars from Tribune in regard to the sales of the Chicago Cubs and Newsday under former CEO Sam Zell.
FORTUNE -- Sam Zell is gone from the Tribune Co., but his toxic financial legacy lives on. Not only did his debt-fueled purchase of one of the nation's biggest MOREAllan Sloan, senior editor-at-large - Jun 18, 2013 9:00 AM ET
Now that Switzerland has agreed to cooperate with a broad U.S. tax evasion probe, thousands of wealthy American account holders may soon be exposed to the IRS.
By Lynnley Browning
FORTUNE -- Are you among the suspected tens of thousands of Americans with a secret Swiss bank account that you are still hiding from the Internal Revenue Service? If so, you are about to acquire a Matterhorn-sized headache.
Switzerland made a desperate MOREMay 30, 2013 5:00 AM ET
Businesses organized as partnerships account for 35% of all sales. So why are we taxing them at higher rates than other corporations?
By Stephen Chipman and Doreen Griffith
FORTUNE -- The top concern for certain business entities seeking to compete on a level playing field through tax reform has not yet been addressed.
Ways and Means Chairman Dave Camp has released a tax reform discussion draft that would simplify the tax rules for MOREMay 14, 2013 12:44 PM ET
If the recent quarter's pace continues, 2013 will become a landmark year for saying goodbye to America, tax-wise.
By Lynnley Browning
FORTUNE -- Americans are ditching their U.S. passports in record numbers, a sign of growing frustration with a system that taxes U.S. citizens on their global wealth whether they live in Montana or Mongolia.
The latest bold-faced names to relinquish their U.S. citizenship include Mahmood Karzai, a brother of Hamid Karzai, MOREMay 8, 2013 1:35 PM ET
No one says the President doesn't deserve his benefits. But it's hard to get past his plan to limit savers to half the value of what he'll walk away with.
FORTUNE -- President Obama's proposal to limit the value of 401(k)s, pensions, and other tax-favored retirement accounts to about $3.4 million certainly sounds reasonable. After all, at a time of big budget deficits, we shouldn't subsidize "the rich" with tax breaks, MOREAllan Sloan, senior editor-at-large - May 1, 2013 5:00 AM ET
The Justice Department got a black eye last week in a case involving a 79-year old Florida widow with $43 million in offshore accounts.
By Lynnley Browning
FORTUNE -- Federal judges usually dislike tax evaders, and in recent years they have imposed hefty fines, lengthy probation, and even prison sentences on dozens of Americans with offshore bank accounts. But the watershed case of Mary Estelle Curran, a 79-year-old widow who earned MOREApr 29, 2013 2:33 PM ET
Tax worries delayed spin-out of $31 billion investment group.
FORTUNE -- French insurance giant AXA Group today reached an agreement to spin out its $31 billion private equity unit, a whopping 18 months after originally putting the unit up for sale. Part of the delay apparently related to uncertainty over new tax schemes being proposed by French President Francois Hollande.
The entire deal values AXA Private Equity at €510 million, and includes MOREDan Primack - Mar 22, 2013 2:59 PM ET
The beaches are inviting, but Puerto Rico's political risks and its high crime rate should make wealthy tax-dodging Americans think twice before moving.
By Cyrus Sanati
FORTUNE -- John Paulson and other plutocrats should think twice before moving to Puerto Rico in search of a tax break. While the Caribbean Island's recent push to lure wealthy individuals from the U.S. mainland seems like a great deal, there is no guarantee that MOREMar 12, 2013 10:31 AM ET
Two new charges may not affect middle-class taxpayers now, but left unchecked, they will.
FORTUNE -- Okay, middle-class taxpayers: Listen up. Our national government in Washington is screwing you again. This time the screwing involves the way that two new income tax surcharges, supposedly designed to affect only the "rich," will reach deeper and deeper into the middle class unless something is done now to rein them in.
I'm talking about the MOREAllan Sloan, senior editor-at-large - Feb 27, 2013 5:00 AM ET
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