CollectionsTaxable Income
IN THE NEWS

Taxable Income

FEATURED ARTICLES
NEWS
November 14, 2000 | By Kristin E. Holmes, INQUIRER STAFF WRITER
Defense attorneys closed their case after presenting testimony from only one witness yesterday in the tax-fraud trial of the owners of a Montgomery County construction and development firm. Lawyers representing Anthony and John Gambone Sr., co-owners of Gambone Bros. Organization Inc., concluded their case after the testimony of an accountant and former Internal Revenue Service agent who examined the corporate taxes of the company and the personal returns of the two Gambone brothers.
NEWS
January 5, 1989
A Dec. 23 editorial about Medicare's expansion misstated the income level at which beneficiaries will pay the maximum surtax of $1,050 per person in 1993. According to estimates by Congress' Joint Committee on Taxation, an individual will need to have taxable income of about $24,000 (gross income, including full Social Security benefits, would typically be about $42,000). Couples will have to earn in excess of $43,000 in taxable income before paying the maximum surtax.
NEWS
April 3, 1995 | BY CHARLES F. MCLAUGHLIN
Sen. Arlen Specter, R-Pa., recently introduced a bill in Congress to replace the graduated income tax with a 20 percent flat tax. It would end taxation of interest, dividends and capital gains. For Specter's flat tax of 20 percent to yield no loss of tax revenues, itemized deductions would have to be discontinued and the standard deductions lowered. Otherwise, the flat tax would have to be set at about 24 percent. Specter's flat tax bill would benefit retirees and others whose main sources of taxable income are dividends, interest and capital gains.
NEWS
December 18, 1991 | by Jim Smith, Daily News Staff Writer
Criminal defense attorney Nino V. Tinari, one of the busier trial lawyers in the city, yesterday was indicted by a federal grand jury for evading $441,186 in federal income taxes over a five-year period. Five sources in the city's legal community said Tinari's troubles with the IRS stem from a long relationship with a woman, on whom he reportedly spent large sums of money, partly in the form of child support - money he allegedly failed to report as income on his tax returns between 1985 and 1989.
BUSINESS
April 7, 1987 | By CAROL MATHEWS and HENRY BLOCK, Special to the Daily News
You've heard the saying that nothing in life is free. Its corollary when it comes to taxes is: Most events in life have a potential tax consequence. This is true whether the event involves a financial transaction, such as a purchase or a sale, or a change in your family circumstances - marriage or divorce, retirement, a birth or a death. These happenings, and others as well, can cause a rise or fall in the amount of your income that Uncle Sam deems is subject to tax. A critical factor in assessing the potential impact of these pluses or minuses on your tax situation is an understanding of how the tax rates are applied to income.
NEWS
March 29, 1990 | By Lisa Moorhead, Special to The Inquirer
A federal grand jury in Camden indicted a 63-year-old Ridley Park man March 20 on five counts of income tax evasion for allegedly failing to pay taxes on more than $136,000 earned from 1983 through 1987, according to officials at the U.S. Attorney's Office in Camden. George W. Edwards, of the 100 block of Chester Pike, who worked in Delran, N.J., during the five years the Internal Revenue Service says he did not file a tax return, faces a maximum sentence of 25 years in prison and $1.25 million in fines if convicted on all counts, according to Dick Lavinthal, spokesman for U.S. Attorney Samuel A. Alito Jr. Edwards allegedly failed to report $136,440 in taxable income earned during the five years he worked as a sales manager.
NEWS
November 18, 1987 | By JOSEPH R. DAUGHEN, Daily News Staff Writer
The former chairman of a defunct airline that ran gambling junkets into Atlantic City was indicted yesterday on charges he masterminded an elaborate scheme to defraud investors, milk his own company, and cheat the Internal Revenue Service. According to an eight-count federal indictment, Arthur L. Toll diverted $370,000 from AIA Industries Inc., the firm he headed, to his own bank account between March and July 1982. The indictment said Toll, 40, of Huntingdon Valley, Montgomery County, disguised the diversion as payments for commissions AIA owed.
BUSINESS
March 4, 1991 | Daily News Wire Services
What tax bracket are you in? Perhaps far more Americans could answer that question today than could five years ago. Then, there were as many as 15 separate brackets; now there are three. Your bracket is simply the marginal tax rate you pay on the last dollar of income. That is, if you were given a $2,000 pay raise or won $10,000 in the lottery, how much of that new income would go to the government? About three-quarters of Americans who pay any tax at all are in the lowest bracket and pay a 15 percent rate.
NEWS
March 29, 2012 | By Michael Hinkelman, Daily News Staff Writer
Joseph Rivera, 56, of Winslow, had full-time work ensuring that temp firms complied with state wage and tax laws. But it was his sideline that made it possible for him to afford two Shore homes, real estate in Fort Lauderdale, Fla., a luxury car, and several bars of gold. Federal prosecutors said Rivera accepted $1.86 million in bribes from at least 20 owners and operators of temporary labor firms in return for his official help. Rivera pleaded guilty Wednesday in federal district court in Camden to solicitation and acceptance of a bribe and tax evasion.
1 | 2 | 3 | 4 | 5 | Next »
ARTICLES BY DATE
NEWS
September 11, 2013 | By Andrew Seidman, Inquirer Staff Writer
METUCHEN, N.J. - Republican U.S. Senate candidate Steve Lonegan reported $1.03 million in total income from 2010 to 2012, according to tax returns his campaign provided to news organizations Monday to contrast his sources of income with those of his opponent, Democratic Newark Mayor Cory Booker. On Friday, Booker's campaign provided 15 years of his tax returns to reporters in what it called "a historic gesture of transparency" and challenged Lonegan to do the same. Lonegan's campaign said it had earlier provided the returns to the New York Post.
NEWS
March 4, 2013
D EAR HARRY: Every day, on my way to work, I drop off my 2-year-old at a day-care center. The cost is $135 a week. In January 2012, my employer notified all the employees of a reimbursement of up to $6,000 per year for day-care expenses according to a new plan. This applies to employees who have been with the company for at least three years at the beginning of the year for which the payment is to be made. I have been with the company for six years, so I got the full $6,000. It's like getting a great raise in pay. I am working full time, and my husband is going to nursing school full time.
NEWS
December 21, 2012 | By Matt Carroll, STATE COLLEGE (Pa.) CENTRE DAILY TIMES
Pennsylvania State University president Rodney Erickson has received a performance-based pay raise from the university, boosting his salary by $85,000. The board of trustees authorized a salary increase for Erickson from $515,000 to $600,000 annually, effective Nov. 1. The raise was enacted on the first anniversary of Erickson's being named president. "President Erickson has done a tremendous job leading our university through a difficult year - one of the most difficult in the history of Penn State," board chairwoman Karen Peetz said.
NEWS
December 14, 2012 | By Jerry Markon and Peter Wallsten, Washington Post
WASHINGTON - The White House and the nation's most prominent charities are embroiled in a tense, behind-the-scenes debate over President Obama's push to scale back the nearly century-old tax deduction on donations that the charities say is crucial for their financial health. In a series of recent meetings and calls, top White House aides have pressed nonprofit groups to line up behind the president's plan for reducing the federal deficit and averting the year-end fiscal cliff, according to people familiar with the talks.
NEWS
October 16, 2012
Sunday's "Consumer 12.0" column referred incorrectly to how the top marginal tax rate would change if rate cuts on upper-income taxpayers are allowed to expire Jan. 1. Under President Obama's proposal, the rate on taxable income above $397,000 a year would rise from the current 35 percent to 39.6 percent. The Inquirer wants its news report to be fair and correct in every respect, and regrets when it is not. If you have a question or comment about news coverage, contact assistant managing editor David Sullivan (215-854-2357)
NEWS
July 24, 2012 | Harry Gross
DEAR HARRY: I am 71 and my wife just turned 69. She has an IRA in the form of CDs from a local bank. It has about $75,000 in it due at different times through the next three years. So far, we have not needed any of this money to live on. We do take the interest. My pension and our Social Security have been almost enough for us. The bank has told her that she'll have to start taking the basic money (they called it "principal"). They did not tell me when or how much. They wouldn't tell me anything because of some privacy rule.
BUSINESS
April 29, 2012 | Wires / McClatchy
If you started a business during the last few years, and then watched too much of your earnings evaporate at tax time, you might be able to change that. If you aren't putting any money into a retirement-savings plan for your business, you are probably giving more than is necessary to Uncle Sam and shortchanging your future, too. And that's easy to fix. It might seem like a mistake to stash anything away for retirement now, when your business is demanding so much cash and time.
NEWS
March 29, 2012 | By Michael Hinkelman, Daily News Staff Writer
Joseph Rivera, 56, of Winslow, had full-time work ensuring that temp firms complied with state wage and tax laws. But it was his sideline that made it possible for him to afford two Shore homes, real estate in Fort Lauderdale, Fla., a luxury car, and several bars of gold. Federal prosecutors said Rivera accepted $1.86 million in bribes from at least 20 owners and operators of temporary labor firms in return for his official help. Rivera pleaded guilty Wednesday in federal district court in Camden to solicitation and acceptance of a bribe and tax evasion.
NEWS
January 31, 2012 | By Angela Delli Santi, Associated Press
TRENTON - Democrats in the New Jersey Senate took their first look at Gov. Christie's plan to cut income taxes 10 percent, and the details they got from the Legislature's budget expert confirmed their suspicions: The higher a resident's income, the bigger their tax reduction would be. The biggest winners, if Christie's proposal is enacted, would be the top 1.6 percent of taxpayers, who earn $500,000 or more, David Rosen, the Legislature's chief...
NEWS
January 19, 2012 | BY GEOFF MULVIHILL and BETH DeFALCO, Associated Press
NEW JERSEY Gov. Chris Christie hit the road and the airwaves yesterday to sell his proposed across-the-board 10 percent income-tax cut to the people, both at home and around the country - and, perhaps, position himself for a 2016 presidential bid. The first-term Republican appeared on two national talk shows and three radio shows and held his first trademark town-hall event of the year, portraying himself as the architect of what he has called...
1 | 2 | 3 | 4 | 5 | Next »
|
|
|
|
|