taxes

Tax Season
12:42 am
Thu February 20, 2014

Why More Americans Are Renouncing U.S. Citizenship

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.
Fabrice Coffrini AFP/Getty Images

Originally published on Thu February 20, 2014 5:32 am

A few times a year, the Treasury Department publishes a long list of names announcing all of the Americans who have lately abandoned their U.S. citizenship.

According to the legal website International Tax Blog, the number hovered around 500 a decade ago. Last year, it hit a record high of nearly 3,000.

This was not a gradual change. It was a sudden spike. It's a story of dominoes falling, one after another, leading to an unexpected outcome.

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Economy
3:12 pm
Thu January 23, 2014

How Rising Taxes For Wealthy Americans Will Impact Economic Inequality

A household earning more than $1 million will see their taxes rates rise on average by $41,000.
Flickr/401 (K) 2012 (CC BY-NC-ND)

David Hyde talks with economist Dean Baker about why tax rates for wealthy Americans are going up and how that could impact economic disparity.

Sports & Taxes
3:36 pm
Sat January 18, 2014

The NFL: Big Business With Big Tax Breaks

MetLife Stadium in New Jersey will hold the 2014 Super Bowl. The stadium gets a break on local property taxes.
Julio Cortez AP

Originally published on Sun January 19, 2014 8:04 am

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.

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Transportation
9:39 am
Wed January 15, 2014

King County Leaders: Raise Taxes To Pay For Buses, Roads

From left, King County Councilmembers Rod Dembowski, Larry Phillips, Jane Hague and Joe McDermott prepare for a press conference. The poster behind them lists targeted bus routes.
KUOW Photo/Deborah Wang

Political leaders in King County want voters to help stave off drastic cuts to Metro bus service.

On Tuesday, King County Executive Dow Constantine proposed raising car tab fees, sales taxes and bus fares. The money would pay for transit service and road maintenance.

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2014 Ballot
9:37 am
Tue January 7, 2014

Washington Initiative Promoter Files Measure To Resurrect Anti-Tax Rule

Initiative promoter Tim Eyman has a plan to resurrect the two-thirds vote requirement for tax increases in Washington
Austin Jenkins Northwest News Network

Originally published on Mon January 6, 2014 3:06 pm

Washington initiative promoter Tim Eyman kicked off the New Year with a new ballot proposal.

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Taxes
4:00 pm
Thu December 12, 2013

Get Ready For Another Sales Tax Debate In Oregon

File photo. Oregon is one of five states without a sales tax.
Richard Masoner Flickr

Originally published on Thu December 12, 2013 3:37 pm

Oregon Governor John Kitzhaber is setting his sights on a major overhaul of the state's tax system.

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Washington Taxpayer Law
8:31 am
Wed November 20, 2013

State Secret: Why You Can't See Boeing's Tax Bill

File photo of the Boeing 777x. Production of the 777X is scheduled to begin in 2017
Boeing

Originally published on Tue November 19, 2013 3:33 pm

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?

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Corporate Taxes
3:49 pm
Fri November 8, 2013

When Did Taxes Become A Bargaining Tool?

David Leonhardt's "Here's the Deal."

Ross Reynolds talks with David Leonhardt, Washington bureau chief of the New York Times and author of "Here's the Deal: How Washington Can Solve the Deficit and Spur Growth."

Labor
11:36 am
Thu October 31, 2013

Analyst: Boeing Announcement A Play For Tax Breaks

The Boeing 777.
Credit Boeing handout

Boeing’s announcement that much of the detailed design work on the 777X jetliner will take place outside Washington state is a play for better tax incentives, according to a top aviation analyst.

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Maritime Law
1:14 pm
Fri October 11, 2013

Luxury Yachts Steer Clear Of Washington State Taxes

Serene has been at Pier 90 in Seattle since August 18.
Flickr Photo/Drewski2112

A 440-foot superyacht named Serene is approaching a deadline date with Washington’s tax authorities.

If it cruises through that deadline by staying longer than 60 days, its owners will have to pay 10 percent of the yacht’s value, which is $30 million. 

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Washington State Budget
10:08 am
Mon July 15, 2013

Tax Break For Russell Investments Riles House Finance Chair

Washington House Finance Chairman Reuven Carlyle. Credit: Washington Legislature

Originally published on Fri July 12, 2013 6:00 pm

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.

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No Raise In Gas Tax
11:38 am
Thu June 27, 2013

Gas Tax Package Falls Short In Washington House

Theresa Murray Flickr

Originally published on Wed June 26, 2013 5:38 pm

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.

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Estate Tax Legislation
9:29 am
Fri June 14, 2013

Washington Estate Tax Refunds Halted After Midnight Bill Signing

Austin Jenkins Northwest News Network

Originally published on Fri June 14, 2013 3:16 pm

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.

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Arts and Entertainment
9:00 am
Tue May 7, 2013

Internet Sales Tax, Jan Merlin And A Music Recommendation

Popular hike trail Little Si near North Bend offers a great summit view with less strain than the Mount Si summit.
Flickr photo/Ratha Grimes

 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.

New Music Recommendation
Are you stuck in a music listening rut?  We are surrounded by new music and innovative artists. Music blogger Liz Riley Tollefson recommends Drai Zich by The Heligoats, Rotting On The Vine by The Purrs, Inside An Aquarium by BOAT and Buzz, Buzz, Buzz by Jonathan Richman & The Modern Lovers.

The Weather And Hike Of The Week
It has been hot outside. Michael Fagin suggests a hike that matches this week’s weather forecast.

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Overtime Session Likely
9:27 am
Thu April 25, 2013

Washington Governor Wants DUI, Gun Bills Plus Budget

Austin Jenkins Northwest News Network

Originally published on Wed April 24, 2013 5:34 pm

Governor Jay Inslee is like the gambler. He says it would take an “inside straight” for the legislature to complete its work by Sunday’s deadline. 

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