Matt Cover at CNS News reports: Federal revenue will return to its pre-recession levels in 2013, according to projections from the Congressional Budget Office (CBO), setting a record for the most money the government has ever taken in. In its latest Budget and Economic Update, the CBO forecasts that federal revenue will top $2.7 trillion… Continue Reading »
Steve Large at CBS Sacramento reports: Fallout from the fiscal cliff is causing troubles for tax preparers, which means it could take longer to get your tax return this year. When Jim Rogers starts his day at work, exciting is not what he’s expecting. For 40 years, he has worked as an accountant filing taxes… Continue Reading »
Nelson D. Schwartz at The New York Times reports: Jack Andrews and his wife no longer enjoy what they call date night, their once-a-month outing to the movies and a steak dinner at Logan’s Roadhouse in Augusta, Ga. In Harlem, Eddie Phillips’s life insurance payment will have to wait a few more weeks. And Jessica… Continue Reading »
Roger Runningen at Bloomberg reports: President Barack Obama said there is “no doubt” the government needs new revenue from closing tax “loopholes” and limiting deductions, along with enacting spending cuts, to reduce the federal deficit. There’s “no reason why we can’t have really strong growth in 2013,” the president said in an interview with CBS… Continue Reading »
Corrie MacLaggan at Reuters reports: Texas Governor Rick Perry on Tuesday called for returning excess tax money to taxpayers and tapping the state’s rainy-day fund for water and transportation infrastructure. Perry, 62, the longest-serving governor in the nation at just over 12 years, touted the success of Texas in creating jobs and luring companies to… Continue Reading »
