Taxes
Fla. to waive penalties for corporate tax glitch (AP)
Taxpayer penalties that may result from a glitch in a new corporate tax law will be waived, the state's revenue director told Gov. Charlie Crist and the Florida Cabinet. Read
Economist: Mich. facing deficit under recession (AP)
School districts, universities and local governments that got more state money this year probably will have to give back some or all of that increase, Senate Fiscal Agency director Gary Olson said Thursday. Read
NY comptroller warns of rising property taxes (AP)
New York state Comptroller Thomas DiNapoli says the next victims of the mortgage foreclosure crisis are the people who have managed to hold onto their homes. Read
Tax-free borrowing available to Ike-hit businesses (AP)
An estimated $384 million in tax-free borrowing capacity is available to private businesses in Louisiana that were damaged by Hurricane Ike, but hardly any companies have shown interest so far. Read
NC panel suggests tax raise, fees for road needs (AP)
Higher taxes or fees for drivers and vehicle owners could be on the horizon if the Legislature agrees with recommendations tentatively approved Wednesday by a state transportation panel. Read
Missouri highway chief says tax money declining (AP)
Missouri's highway funding has hit a pothole. The director of the Missouri Department of Transportation said Wednesday that its tax revenues are running 4.9 percent behind projections through the first four months of the fiscal year -- a trend that could jeopardize future road and bridge projects. Read
Group: Mich. drivers should pay $12 more a month (AP)
Michigan drivers would pay at least $12 more a month in gasoline taxes and vehicle registration fees to upgrade the state's transportation system if a plan pitched Wednesday by a construction industry trade group wins approval. Read
Claiming tax-exempt status (Bankrate.com)
Even students and dependents are not exempt from income tax, says CPA George Saenz. Read
Stock swoon creates chance to 'buy low' (Bankrate.com)
The stock market's recent struggles make now the perfect time to "buy low" and reap rewards later. Read
DiMasi: Mass. gas tax hike fairer cost-sharing way (AP)
House Speaker Salvatore DiMasi said Wednesday raising the state's gasoline tax "is a fairer way to share our costs" than nearly doubling tolls on the Massachusetts Turnpike and the tunnels leading to Logan International Airport. Read
Ga. board rejects proposed teacher pensions change (AP)
A state board voted unanimously Wednesday to keep a nearly 40-year-old policy that guarantees cost-of-living increases to pension payments for retired Georgia teachers. Read
Washington revenue drops, overall deficit tops $5B (AP)
The deeply troubled economy is sapping Washington's tax collections again, saddling newly re-elected Gov. Chris Gregoire -- who pledged not to raise taxes -- with a $5.1 billion budget hole. Read
Pentagon defends decision on Lockheed fighter jet (AP)
The Pentagon's chief weapons buyer on Wednesday defended as a "prudent approach" his decision to initially provide less money than Congress mandated for Lockheed Martin Corp.'s F-22 fighter jet program until the next administration can assess its aircraft needs. Read
Hawaii's tax collections drop as tourism slumps (AP)
Hawaii's tax collections are falling with the economy. The state Department of Taxation reports that tax collections fell 1.4 percent from July through October compared to last year. Read
About 300 cabbies go on strike in southwest China (AP)
A few hundred taxi drivers went on strike Wednesday in a southwestern Chinese district to protest a proposed increase in the number of cabs operating there, state media reported. Read
Dear Mr. Secretary ... (Morningstar.com)
An unofficial bit of well-meaning criticism for our Treasury secretary. Read
Most CD earnings not tax-deferred (Bankrate.com)
Unless you hold CDs in a retirement account, earnings on these instruments usually are not tax-deferred. Read
Deductible IRA income limits (Bankrate.com)
Income limits rule for spouses who want to contribute to a deductible IRA, says CPA George Saenz. Read
Lawmakers press Paulson on bailout plan changes (AP)
Faced with exasperated lawmakers upset by shifts in bailout strategy, Treasury Secretary Henry Paulson launched a spirited defense Tuesday of his handling of the $700 billion program and expressed fresh reservations about tapping the pool for mortgage guarantees to relieve skyrocketing home foreclosures. Read
NY's Cuomo asks AIG to detail plans for exec pay (AP)
New York Attorney General Andrew Cuomo on Tuesday asked troubled insurance giant American International Group to reveal whether it intends to give bonuses or raises to its executives this year. Read
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