Jim Gnorski

17 Flips | 1 Magazine | @jimgnorski | Keep up with Jim Gnorski on Flipboard, a place to see the stories, photos, and updates that matter to you. Flipboard creates a personalized magazine full of everything, from world news to life’s great moments. Download Flipboard for free and search for “Jim Gnorski”

Top American corporate tax avoiders

Eaton PLC<p><b>U.S. headquarters:</b> Cleveland <b><br>Tax residence:</b> Ireland <b><br>Ticker:</b> (ETN)<p>CEO Alexander Cutler registered his Cleveland maker of circuit breakers and …

Fortune.com

• 1. To license Fortune articles, excerpts, or headlines for republication in various media (including books, eBooks, film, web, newsletters, …

Will States Get A Multibillion-Dollar Windfall From Corporate Tax Reform?

If Congress follows the classic approach to revenue-neutral corporate tax reform, it will broaden the tax base just enough to offset the revenue loss from lower rates. Many Republicans, like Ways and Means Committee Chair Dave Camp, are gunning for corporate tax reform with a rate reduction from 35 …

This New Tax Law Undercuts National Sovereignty And Undermines The Rights Of US Citizens Abroad

In reality, Lebanese banks didn't have much of a choice. Fatca has been imposed by the United States on banks and other financial institutions internationally, obliging them to report to the Internal Revenue Service (IRS) on their American account holders with accounts above $50,000. If the …

America: No. 1 and Gaining in . . . Corporate-Tax Oppressiveness

You probably knew that the U.S. has the highest top statutory corporate-tax rate in the world (an honor it’s held for three years running – it used …

Corporate tax scam watch: The 'inversion' craze

Apple's done it. Herbalife has done it. Pfizer wanted to do it. What could be wrong with a corporate maneuver eyed by these fine, upstanding American corporations--and nearly 50 others in the last decade?<p>The subject is "inversions," the catch-all name for corporate restructurings to make an …

Income Tax

Women Senators Propose Bill To Boost Child Care Tax Credits

Democratic women senators introduced a bill on Tuesday that aims to make child care less expensive for working parents by expanding the Child and Dependent Care Tax Credit (CDCTC).<p>The Helping Working Families Afford Child Care Act, introduced by Sens. Kirsten Gillibrand (D-N.Y.), Patty Murray …

What Dave Camp's Tax Reform Plan Would Really Mean

In an extensive new analysis of House Ways & Means Committee Chair Dave Camp’s tax reform plan, my Tax Policy Center colleagues confirm his proposal would raise about the same amount of money over 10 years as current law and impose roughly the same tax burden across income groups as today’s revenue …

How The $1 Billion Kennedy Family Fortune Defies Death And Taxes

If America had an aristocracy, the most titled bloodline would certainly be the Kennedys. In the past half century, one Kennedy after another has occupied nearly every political position America has to offer, including the roles of congressman, senator, ambassador, mayor, SEC chairman, state …

Defining Net Investment Income Under The Final 3.8-Percent Investment Tax Regulations

The net investment income tax (NIIT) applies to the lesser of an individual’s NII or the excess of that individual’s MAGI over a threshold amount. Therefore, the definition of NII is critical to the determination of NIIT.<p>Code Sec. 1411(c)(1) defines “NII” as the excess of (a) the sum of: (i) gross …

Corporate Tax Behavior So Bad Even Fortune Magazine Can’t Stomach It

These are companies that even a top cheerleader for the corporate class can’t bring itself to defend.<p><i>This article originally appeared at the website</i> …

Middle-class

Legislation Would Use Tax Code to Stop Junk Food Ads Targeting Kids

The debate in Washington over which foods should or should not be marketed to children is far from over. And with Congress getting serious about …

Senate rejects repeal of tax cuts to leave Coalition with another budget headache

The Senate has dealt another $2bn blow to the government’s budget – by refusing to pass legislation that repeals personal income tax cuts legislated by the former government but then deferred.<p>It remains on track to repeal the carbon tax by Thursday, but the government is struggling with the new …

Carbon tax repeal looms – as it happened

Nightly summary Australian politics<p><b>The immigration department was warned that self-harm among asylum seekers in detention, particularly on Christmas Island, as Tony Abbott says government asylum seeker policy will not be driven "moral blackmail".</b>• <b><br>The senate has dealt another $2bn blow to the</b> …