Tax Deductions
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Apple and other multinationals that keep money overseas are not doing anything wrong on taxes, opposing political pundits agreed on CNBC. But they clashed on reforms to discourage that practice.
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Lothar Mentel, CIO of Tatton Investment Management, tells CNBC that the Cyprus situation was known for a while and that the Europeans played brinkmanship in the way they handled it.
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CNBC's Steve Sedgwick grilled the president of the EU commission, José Manuel Barroso and the Russian prime minister, Dmitry Medvedev, on the relationship between Europe and Russia at a press conference in Moscow.
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Ruth Lea, economic advisor at Arbuthnot Banking Group says fiscal stimulus proposed in the U.K. budget is too small.
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Ivan Tchakarov, chief economist at Renaissance Capital, tells CNBC that the Cyprus crisis presents an opportunity for Vladimir Putin to take the moral high ground and become the 'savior of Europe'.
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Nicholas Spiro, managing director at Spiro Sovereign Strategy, tells CNBC that to take the risk on Cyprus for a puny 5.8 billion euros 'beggars belief'.
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Anthony Scaramucci, managing partner at Skybridge Capital, tells CNBC that like when Lehman Brothers was allowed to fail, allowing Cyprus to fail will have unintended consequences.
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Efi Xzanthou, a member of Cyprus's Green Party and Parliamentary Finance Committee, tells CNBC that as soon as they open there will be a run on the banks as no depositor will feel safe.
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Stephane Deo, global head of asset allocation at UBS, tells CNBC that taxing small savers in Cyprus is the wrong thing to do, and taxing big depositors is a better solution.
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The Cypriot parliament will today vote on the highly controversial levy on bank deposits, CNBC has been speaking to a number of market experts who all warn that the tax sets a dangerous precedent.
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Steve Keen, professor of economics at the University of Western Sydney, argues that if you destroy the trust depositors have in their bank accounts then you destroy the oil of capitalism.
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Ashraf Laidi, chief global strategist at City Index, tells CNBC that investors, who want to play the Euro without the periphery, should play the Swiss Franc.
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A filing error has resulted in the delay of up to 600,000 tax refunds — among them students who need the money to pay for books and the tax receipt to apply for financial aid, the IRS said Tuesday.
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An attempt by the IRS to get new regulations to stop fraud among tax preparers has hit a roadblock. The issue raises the age-old question of credibility for those who prepare our taxes.
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Make sure you claim all of the tax breaks you deserve, from other taxes you have paid to expenses for job hunting, and even good deeds so small you hardly remember them.
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CNBC's Eamon Javers reports the IRS is watching extra generous "charitable donations."
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