Tax Break

Essential reading: Verizon seeks way around tax bill, and more

April 19, 2013

Welcome to the top tax and accounting headlines from Reuters and other sources.

* Not-so-taxing talk at Verizon. Miriam Gottfried – The Wall Street Journal. Nothing is certain but death and taxes. Yet Verizon Communications seems to think it has a way around the latter. Link 

* Advisers, IRS help on taxes after Boston bombings. Arden Dale – The Wall Street Journal. The IRS has told Boston-area taxpayers they have until July 15 to file 2012 returns and pay taxes that would normally be due on April 15. Link

* On whether the rich pay too little in taxes. Catherine Rampell – The New York Times. The share of the nation’s total tax bill that is paid by the wealthy has been growing — but that’s because the incomes of the wealthy have increased so strikingly, faster than the individual tax rates they face have fallen. Link

* Brownback’s fight for sales tax plan isn’t over. Brad Cooper – The Kansas City Star. Republican Kansas Gov. Sam Brownback and a handful of other GOP governors want income tax cuts but propose paying for them by keeping or expanding sales taxes — sometimes called a “tax swap.” Link 

* Christie says tax cut will be focus of reelection campaign. Jenna Portnoy – The Star Ledger. If New Jersey Gov. Chris Christie wins re-election in November, he said he will consider it a mandate from the people for a tax cut. Link 

* Cypriot parliament approves corporate tax rise. Michael Persianis – The Wall Street Journal. Cyprus’s Parliament approved four pieces of legislation under which the island’s corporate tax rate would rise to 12.5 percent from 10 percent while also increasing tax rates on the interest earned on bank deposits. Link 

* How a potter took accounting into the industrial age. Jane Gleeson-White – Bloomberg news opinion. At the end of the 18th century, the double-entry account-keeping practices developed by Italian merchants in the Middle Ages were updated for the new industrial era. Link

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