The U.K. government is to introduce a new levy on foreign homebuyers, raising concerns that this could put the brakes on London's property market.» Read More
The government bailout of General Motors includes a valuable prize for the ailing carmaker: a tax break that could save GM and its future investors more than $12 billion.
Protesters began gathering at state Capitols and in neighborhoods and town squares across the country Wednesday to kick off a series of tax-day protests designed to echo the rebellion of the Boston Tea Party.
Most people say they plan to use this year's tax refund to pay bills, deciding in this sour economy to be more frugal with their annual windfall.
Whatever your situation, whether you work or are unemployed, the government has something for you in the $787 billion stimulus package. Plus there are extra benefits to help compensate for some of those major life expenses such as a house or a car, and yes, your kids.
The California Legislature passed a long-awaited budget early Thursday after an epic battle that involved several all-night sessions, sending the governor a bill that raises taxes and cuts spending to help close a $42 billion deficit.
President Barack Obama plans to participate in town hall-style meetings next week in two cities that have struggled amid the crumbling economy.
Former Senator Tom Daschle has withdrawn his name for Secretary of Health and Human Services. The action comes after Daschle admitted failure to pay past taxes.
Moving with remarkable speed, the Democratic-controlled U.S. House of Representatives approved $819 billion in spending increases and tax cuts at the heart of President Barack Obama's economic recovery program.
Obama used his talks with business leaders to keep up a lobbying campaign for passage of his economic plan, which could be the signature domestic initiative of his first term as he struggles to deal with the worst financial crisis in decades.
The House hopes to vote next week on the $825 billion package sought by President Barack Obama to help the struggling economy, House Speaker Nancy Pelosi said Thursday.
After receiving billions in aid from U.S. taxpayers, the nation's largest banks say they can't track exactly how they're spending the money or they simply refuse to discuss it.
Desperate to bring in revenue in the middle of a recession, states across the country are adopting tax amnesty programs, offering to let people pay their past-due tax bills with little or no penalties or interest.
The German government on Wednesday approved a stimulus package aimed at helping Europe's biggest economy weather the financial crisis, with measures including tax breaks on new cars and credit assistance for companies.
The economic crisis and raw politics threatened to derail the first presidential debate as John McCain challenged Barack Obama to delay the Friday forum and join forces to help Washington fix the financial mess. Obama rebuffed his GOP rival, saying the next president needs to "deal with more than one thing at once."
When Fed officials gathered for their annual Jackson Hole conference last August, Bear Stearns shares traded at over $100, interest rates were 5.25% and oil cost $70 a barrel.
Chicago Federal Reserve Bank President Charles Evans on Friday said he is worried that high energy prices are feeding through to core inflation, but added that resource slack from the slow economy could help mute price pressures over time.
Merrill Lynch is unlikely to pay corporation tax in the UK for several decades after it charged $29 billion of losses to its London-based subsidiary, the Financial Times said Thursday citing a company filing.
Some Wall Street companies might not resume paying New York City taxes for "a number of years'' because they can offset future profits with the losses they are currently suffering, Mayor Michael Bloomberg said on Monday.
A U.S. Senate subcommittee accused banks in Switzerland and Liechtenstein of helping wealthy Americans evade billions in taxes each year, and urged the establishment of tougher laws to combat offshore tax havens around the world.
A federal judge in Miami authorized the Internal Revenue Service to request information from UBS about U.S. taxpayers who may be using Swiss bank accounts to evade federal income taxes, the U.S. Justice Department said Tuesday.