A significant benefit of the Affordable Care Act is the opportunity to receive money-saving tax credits up front to cut the overall cost of health insurance, but now hundreds of thousands of consumers could owe back some of that money next April.
Those affected took advance payments of the premium tax credit for health insurance. Some married couples could owe $600 or $1,500 or $2,500 or even more. It might feel like a raw deal for some who are already suffocating under the escalating costs of health insurance.
Billionaire investor Warren Buffett on Thursday again defended Burger King’s purchase of Canadian chain Tim Hortons, a deal criticized by many as an inversion plan by the fast food company to avoid paying U.S. taxes.
Berkshire Hathaway, the conglomerate where Buffett serves as president and CEO, invested $3 billion to help finance the deal. Appearing on MSNBC, Buffett insisted that the purchase was not a tax dodge.
(CNSNews.com) – Inflation-adjusted federal tax revenues hit a record $2,663,426,000,000 for the first 11 months of the fiscal year this August, but the federal government still ran a $589,185,000,000 deficit during that time, according to the latest Monthly Treasury Statement.
Over the last two years, the U.S. has had a spike in expatriations. It isn’t exactly Ellis Island in reverse, but it’s more than a dribble. With global tax reporting and FATCA, the list of the individuals who renounced is up. For 2013, there was a 221% increase,