A case against the Swiss bank UBS in 2008 led Congress to create more regulations for foreign banks holding American money. Rather than comply, many banks opted to stop serving American account-holders.
Credit Fabrice Coffrini / AFP/Getty Images
The number of U.S. citizens renouncing their American citizenship spiked to 3,000 last year, up from about 500 in earlier years. While reasons vary from person to person, a U.S. tax law passed in 2010 has complicated life for many Americans living abroad.
If you're a football fan, Sunday is kind of like Christmas.
Two conference championship games will determine the teams that advance to the Super Bowl, and the matchups couldn't be more exciting: Denver vs. New England (Peyton Manning vs. Tom Brady). And some would say the other game, pitting San Francisco against Seattle, might just feature the two best teams in the league.
America shows its love for the sport in many ways beyond breathless anticipation of big games. It also gives back to the National Football League with tax breaks and publicly funded stadiums.
Washington lawmakers recently rushed into special session to pass $8.7 billion in aerospace tax breaks. The aim: to land Boeing’s next generation 777 airplane. But how much does Boeing – or any other major company in Washington - pay in taxes?
It was the legislative equivalent of a buzzer beater. Just as the Washington legislature was about to adjourn last month, the House and Senate quickly passed a series of tax breaks mostly for businesses. They included exemptions for dance clubs, mint growers, dairy products and this one: digital data used by international investment firms.
That last one will largely benefit a single global firm – Seattle-based Russell Investments. This tax break passed despite efforts to close these kinds of loopholes.
A proposal to raise Washington’s gas tax by 10.5 cents to fund transportation projects has failed in the state House. Supporters Wednesday came up one vote short. But they vow to try again.
The transportation revenue package would raise $10 billion for maintenance and preservation of existing roads and to fund new projects. The proposal calls for a 6 cent gas tax increase this summer followed by another 4.5 cent increase next July.
There were dramatic developments in Olympia overnight. Governor Jay Inslee held a midnight bill signing to amend Washington’s estate tax. The move means the Department of Revenue will not begin to issue refund checks Friday morning to the heirs of some multi-million dollar estates.
The state of Washington was about to embark on a months-long process of refunding an estimated $140 million to more than 100 estates. This was the result of a Supreme Court ruling earlier this year. The money would have come out of a fund dedicated to public schools.
Paying Internet Sales Tax The Senate voted on Monday on a bill that would end tax-free Internet shopping. Slate’s Matthew Yglesias joins us with a look at the Marketplace Fairness Act and who’s behind the push to collect taxes on your online purchases.
A Conversation With Early Television Actor Jan Merlin Jan Merlin starred in early television shows like Tom Corbett, Space Cadet and The Rough Riders. He went on to be an Emmy-winning script writer. He grew to love the escape that theater and film could provide after a profound World War II experience.