Archive for "tax"

Obama Promises Fast Tax Relief

December 29th, 2008

Obama

 One of the first orders of business for President Barack Obama will immediate tax relief for middle-class families, Obama’s senior adviser said Sunday. The U.S. economy, which is at its weakest point since World War II, is in dire need of a shot in the arm, David Axelrod said during his tour of TV political roundtables Sunday morning. While the $675 billion to $775 billion stimulus package will be implemented soon in an attempt to salvage or create 3 million jobs, Axelrod said on NBC’s “Meet the Press” and CBS’s “Face the Nation” that his boss wants Americans to have some tax relief right now. “Look, we feel it’s important that middle-class people get some relief now,” Axelrod said on “Meet the Press.” Obama has “promised a middle-class tax cut. This package will include a portion of that tax cut that will become part of the permanent tax cut he’ll have in his upcoming budget.” By giving people more cash, the economy will grow, Axelrod said. “Obviously, the sooner the better,” Axelrod said on “Face the Nation.” “I don’t think Americans can wait. People are suffering, our economy is sliding, and we need to act. And so our message to Congress is to work on it with all deliberate speed.”

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Feds Drop Their Tax Case Against Sharpton

July 23rd, 2008

The civil rights leader says he’s “grateful to God” that it’s over
Sharpton

The feds are finally giving the Rev. Al some slack. Last year, federal prosecutors announced that they had issued subpoenas to at least 10 of the Rev. Al Sharpton’s associates, demanding all records related to the civil rights leader’s personal finances, business dealings and transactions associated with his organization, the National Action Network. Sharpton has admitted being behind on his taxes, and, between the IRS, the state of New York and the city, he owes somewhere in the neighborhood of $1 million. He has also failed to file taxes for several consecutive years or to obtain workers’ compensation insurance for employees with the network. “We learn from every experience to be more cautious, more accountable,” Sharpton told The Associated Press. While the Harlem-based minister does not collect a salary from the National Action Network, he earns “several hundreds thousand dollars a year in personal income from his nationally syndicated radio show, book royalties and speaking fees,” according to AP. “I’m just grateful to God and my family, and all of our supporters” that the feds have dropped the criminal case, he said.

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Prosecutors Want Actor’s Bail Revoked

June 23rd, 2008

Wesley Snipes faces more government opposition in tax case
Wesley Snipes

U.S. Attorney’s Office reps want actor Wesley Snipes locked up, rather than free while awaiting an appeal after his recent tax conviction. Snipes was given a three-year sentence, having been found guilty of failing to file taxes for five years. But the actor is free on bond while his lawyers prepare a new case. Judge William Terrell Hodges ruled that Snipes isn’t a flight risk and poses no danger to society “if he remains at liberty pending appeal.” But Steve Cole, a U.S. Attorney’s Office spokesman, isn’t trying to hear it. “We want him in custody,” Cole says. “He’s been convicted by a jury. He has been sentenced to three years and he should be in custody.” The U.S. Attorney is seeking to have Snipes’ bail revoked.

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