By Robert W. Wood – The lackluster IRS testimony so far suggests we may never know what happened, who did what, who knew, when they knew and worse. Confusion and Staff Troubles Rife at I.R.S. Office in Ohio.
Amid all the noise, many Americans should ask simpler questions:
- Why is the tax law so horribly complex?
- Can I feel secure that I will be dealt with fairly by the IRS?
- Doesn’t the IRS police its employees?
- Why does it seem that there’s always someone getting away with something in the tax world?
- Can I feel secure that my private taxpayer information will remain private?
- Why is staying off the IRS radar so important?
By Soyoung Kim and Kate Holton – The two sources said Verizon was considering a 50:50 cash and stock bid for the 45 percent stake it does not already own, an asset it has long coveted but that Vodafone will take some persuading to give up. It has not put a proposal to Vodafone yet but has hired both banking and legal advisers for a possible offer.
“The tax problem has always been the issue. If a way can be found around that, then it is highly likely that a deal will be done,” the top-15 investor said. more> http://tinyurl.com/bc9owmy
Posted in Broadband, Business, Economy, Net, telecom
Tagged Broadband, Industrial economy, Internet, Tax, United States, Verizon, Vodafone
By Robert W. Wood – With all the hype both pro and con about the online sales tax bill you might have a belly full. Still, these facts about sales and use taxes might surprise you.
- In 1932, Mississippi was the first state to impose a general state sales tax. By 1940, 23 other states implemented a general sales tax
- Lost tax revenue on Internet sales was an estimated $11.4 billion in 2012. California alone forecast a loss of $1.9 billion; Texas, $870.4 million; and New York, $865.5 million
By Robert W. Wood – Legislation giving states the power to compel retailers outside their borders to collect online sales tax is a touchy subject for Internet merchants and consumers alike. Tax applies now, but consumers are supposed to self-report. Most don’t despite the fact that sales and use tax applies in 45 states and DC.
A growing number of states extend sales tax to online retailers with in-state sales affiliates. Thus, Amazon started collecting tax in Pennsylvania, Texas, California and Connecticut according to the Marketplace Fairness Act website. more> http://tinyurl.com/c7y48ye