Taxes
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Italy's fiscal deficit narrowed in the final quarter of 2012 to 1.4 percent of gross domestic product, compared with 2.6 percent in the same period of 2011.
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JUNEAU, Alaska-- Opponents of a proposed oil tax overhaul rallied across the Alaska, including on the steps of the state Capitol, Thursday, while a rewritten tax bill advanced in the state House. Supporters of a tax change say Alaska can't stand by as production continues to decline. Alaska relies heavily on oil revenues to run.
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OKLAHOMA CITY-- Divisions between the House and Senate about how to slash Oklahoma's top personal income tax rate became clear Thursday when a new plan emerged in the Senate that would delay a tax cut until 2015 and change five separate tax credits the state offers. Senate Finance Committee Chairman Sen.
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Mike Pence drew closer to a budget compromise Thursday with the unveiling of a $30 billion Senate plan that cuts the state income tax by $150 million and establishes a new roads fund.
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Italy's fiscal deficit narrowed in the final quarter of 2012 to 1.4 percent of gross domestic product, compared with 2.6 percent in the same period of 2011.
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BERLIN, April 5- German Finance Minister Wolfgang Schaeuble said on Friday he was glad the identities of thousands of holders of bank accounts in tax havens had been leaked because it would help do away with a business model that Cyprus had shown was flawed.
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WASHINGTON, April 4- Legislation to combat use of taxpayer data in tax refund fraud scams was introduced on Thursday by a senator from Florida, an epicenter of the scams as they spread across the United States.
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NASHVILLE, Tenn.-- The state House has unanimously approved Tennessee Gov. If approved by the Senate, the state's tax on groceries would drop by a quarter percentage point to 5 percent. The tax reduction is projected to cost the state about $23 million in state revenue _ or an average annual tax savings of about $3.56 for each Tennessean.
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New data from the IRS shows that tax filers with taxable incomes of $1 million or more were audited nearly 12 times more often than the population as a whole.
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When it comes to collecting revenue, the IRS is following the money, reports CNBC's Robert Frank.
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TOPEKA, Kan.-- A deal that would further reduce income taxes in Kansas is unlikely before May, after lawmakers have fresh state revenue estimates, negotiators for the Kansas House and Senate said Wednesday. The sticking point is what to do about a 2010 sales tax increase that is set to expire July 1.
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OKLAHOMA CITY-- Oklahoma businesses would no longer have to pay a franchise tax under a bill that easily cleared a House committee on Wednesday. The House Appropriations and Budget Committee voted 16-4 for the bill, and a similar measure was endorsed earlier this week by a Senate panel.
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BOSTON-- Massachusetts reports March collections were up more than 4.8 percent compared with last year. Revenue Commissioner Amy Pitter said Wednesday preliminary revenue collections came in $87 million higher than last March. That's $587 million, or 4 percent, more than a year ago and $363 million above the estimate for this point.
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DENVER-- Colorado would join more than two dozen states with a local version of the federal earned income tax credit under a proposal approved Wednesday in a state Senate committee. The bill would make permanent the Colorado earned income tax credit, to be phased in starting next year, and also would create a Colorado child tax credit.
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FRANKFURT, April 4- European central Bank President Mario Dragi said on Thursday that Cyprus's initial decision to charge a levy on insured as well as uninsured banks depositors was a mistake.
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Tax refund fraud is a growing $5 billion a year problem that could get worse before it gets better. Crooks are getting smarter and the IRS needs to work harder to catch thieves.
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RIO DE JANEIRO, April 3- Brazil's Supreme Court on Wednesday put off for a week the judgment of a landmark case that will decide how the foreign profits of mining giant Vale SA and other multinationals are treated by tax authorities.
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Former Treasury Secretary Paul O'Neill discusses when he thinks the Fed might ease up; tax policies; and fracking standards.
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WASHINGTON, April 3- The U.S. Internal Revenue Service and 3 M Co are fighting over royalty payments from the company's Brazilian unit to its U.S. headquarters in a case that highlights how tax complications often emerge from doing business in Brazil.
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A close look at one story of a couple who are victims of tax refund fraud, with CNBC's Scott Cohn.
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Businesses and wealthy owners of estates ask the IRS for changes to a 3.8 percent tax on investment income to fund Obamacare.