Taxes

3:13am

Wed September 12, 2012
NPR Story

IRS Awards $104 Million To Whistle-Blower

Originally published on Wed September 12, 2012 7:28 pm

Transcript

STEVE INSKEEP, HOST:

After a scandal, somebody finally gets rich for doing the right thing. It's NPR's business news.

A former banker, Bradley Birkenfeld, has just been awarded $104 million by the IRS. That is believed to be the largest amount ever paid to an individual whistle-blower. Birkenfeld told the IRS how a Swiss bank was helping thousands of Americans evade taxes, and was then thrown in jail.

RENEE MONTAGNE, HOST:

NPR's Wendy Kaufman has more.

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1:31am

Tue September 11, 2012
Presidential Race

Rhetoric Aside, Few Details Of Romney's Tax Plan

Originally published on Tue September 11, 2012 1:59 pm

Republican presidential nominee Mitt Romney campaigns at PR Machine Works in Mansfield, Ohio, on Monday.
Charles Dharapak AP

Republican presidential nominee Mitt Romney's proposal to overhaul the tax code continues to draw scrutiny.

Romney says it is possible to cut tax rates without driving the government deeper into the red, and that he can make up for the lost revenue by closing tax loopholes. But analysts have had a hard time testing Romney's claim because he hasn't offered many specifics.

When he was pressed by NBC's David Gregory this weekend to give an example of a loophole he would close, Romney didn't offer much detail.

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5:24am

Sun September 9, 2012
Economy

Shaping The Economic Future: 4 Big Ideas

Originally published on Mon September 10, 2012 10:02 am

Transcript

LINDA WERTHEIMER, HOST:

Over the last month, WEEKEND EDITION has been talking to top economists about jobs, growth, debt and taxes. But we also ask them a broader question: What is the one big idea in economics that's really caught your attention lately?

NOURIEL ROUBINI: Ideally, I would like the economists to become boring again.

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5:32pm

Wed September 5, 2012
The Two-Way

Secret Service Investigates Claim That Romney's Tax Returns Were Stolen

The Secret Service is looking into a claim that hackers stole several years' worth of tax returns filed by Republican presidential candidate Mitt Romney.
Justin Sullivan Getty Images

Investigators are working to determine the legitimacy of a claim that GOP presidential candidate Mitt Romney's tax records have been stolen from an accounting firm's records.

Naming a million-dollar price, an anonymous ransom note was sent to accounting firm Pricewaterhouse Coopers. The letter, which was also posted online, gets right to the point: "Using your Office... we were able to gain access to your network file servers and copy over the tax documents for one Willard M Romney and Ann D Romney."

The note's author signs off with a perky "Cheers!"

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12:47am

Wed September 5, 2012
It's All Politics

Payroll Tax Holiday May Not Survive Year's End

Originally published on Wed September 5, 2012 2:46 am

The Social Security tax rate is scheduled to revert to 6.2 percent next year, up from the temporary reduction — to 4.2 percent on an employee's first $110,000 in wages — which has been in effect since January 2011.
iStockphoto.com

An occasional series, Fiscal Cliff Notes breaks down the looming "fiscal cliff" of expiring tax cuts and deep automatic spending cuts set to hit around the first of year.

If you work, you've probably been getting this tax break: Since January 2011, the government has knocked 2 percentage points off the payroll tax.

For someone making $50,000 a year, the payroll tax holiday works out to about $20 a week.

"We definitely notice it," says Steve Warner of Winter Haven, Fla., while on vacation with his family recently in the nation's capital.

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