On Monday, May 12th, the Louisiana House of Representatives approved House Bill 663 – the 2014 tax amnesty law. Under the law, taxpayers who owe back taxes can save 67% of the penalties and 33% of the interest they owe on the overdue taxes.
The Louisiana legislature is working hard on House Bill 663 to approve another round of tax amnesty to begin in the Fall of 2014. The apparent motive appears to center on helping the state balance the budget for the upcoming fiscal year which begins on July 1st. Lawmakers hope to raise approximately $10 million by enticing delinquent taxpayers to come forward and pay.
In case you haven’t heard, the Treasury Inspector General for Tax Administration (TIGTA) recently issued a report finding that IRS employees who owed back taxes were paid lucrative bonuses. According to TIGTA, more than $1 million was paid to over 1,100 IRS employees who are delinquent on their taxes.
WASHINGTON — President Obama this week will seek to force American businesses to pay more overtime to millions of workers, the latest move by his administration to confront corporations that have had soaring profits even as wages have stagnated.
On Thursday, the president will direct the Labor Department to revamp its regulations to require overtime pay for several million additional fast-food managers, loan officers, computer technicians and others whom many businesses currently classify as "executive or professional" employees to avoid paying them overtime, according to White House officials briefed on the announcement.
Do you want your piece of the great outdoors? How does cattle farming sound to you? And, what if the investment could also guarantee you enough income to retire?
Does this sound too good to be true? Well, it is!!! Just ask the HOYT CATTLE PARTNERSHIP INVESTORS WHO RECEIVED GIANT TAX BILLS FROM THE IRS FOR INVESTMENTS THEY MADE 30 YEARS AGO!!!
By: Angela S. Bryson
You may remember hearing about the "LA Tax Amnesty 2013: A Fresh Start." The Louisiana Department of Revenue (LDR) offered this program in 2013 to give Louisiana residents an opportunity to bring their past due tax liabilities up-to-date by paying all taxes due, with waiver of all penalties and 50% of the interest. The 2013 program received more than over 52,000 applications with payments totaling over $435 million.