Income Tax Loopholes Links

Fallin: Oklahoma income tax plan to reduce brackets

OKLAHOMA CITY (AP) — Gov. Mary Fallin said Thursday that her plan to reduce Oklahoma’s income tax will shrink the number of tax brackets from seven to three and will include revenue growth criteria...

Oklahoma lawmakers file bill to phase out state income tax

A measure proposed by Oklahoma lawmakers would lower the state's top personal income tax rate of 5.25 percent to 2.25 percent in 2013, and then gradually lower it until the rate is zero in 2022. To pay for the plan, most personal tax credits, exemptions, deductions and exclusions would be eliminated, which one opponent says would essentially raise taxes for many in the state.

Beware The Long (Global) Arm Of The IRS

In an attempt to balance the budget and close the tax gap, Congress, the Obama administration and the IRS are on a mission to intimidate Americans into reporting all of their income, onshore and offshore.

Romney aims to stay away from his income tax issue

SPARTANBURG, South Carolina (Reuters) - Republican presidential candidate Mitt Romney sought on Wednesday to stay away from the issue of how much he pays in taxes a day after acknowledging that his income tax rate is about 15 percent, but a key ally joined rivals' calls for Romney to release his tax returns. During a campaign speech in Spartanburg, Romney avoided mentioning the comment he made a ...

Abolish income tax up to £10,000 for 23m to ease 'boiling point' pressure on families, says Clegg

As figures showed the economy shrank by 0.2 per cent in the last three months of 2011, the Deputy Prime Minister will demand that income tax for basic rate taxpayers is slashed so that the first £10,000 in earnings is tax-free.