Archive of posts tagged internal revenue service

New CBO Estimates: Obamacare Will Cost Businesses Additional $4 Billion in Taxes

New CBO Estimates: Obamacare Will Cost Businesses Additional $4 Billion in Taxes

New CBO Estimates: Obamacare Will Cost Businesses Additional $4 Billion in Taxes

New CBO Estimates show that business owners will be forced to pay an additional $4 billion in taxes due to Obama’s socialized healthcare – a.k.a. Obamacare – a.k.a. the largest tax increase in US history.

We are now seeing the results of the initial phony numbers that the Obama and the Democrats gave to the CBO for scoring, knowing full-well that the numbers they gave the CBO were artificially lowered so the Obamacare would pass.

Business owners will pay $4 billion more in taxes under President Obama’s Affordable Care Act (ACA) than the Congressional Budget Office had previously expected.

“According to the updated estimates, the amount of deficit reduction from penalty payments and other effects on tax revenues under the ACA will be $5 billion more than previously estimated,” the CBO reported today. “That change primarily effects a $4 billion increase in collections from such payments by employers, a $1 billion increase in such payments by individuals, and an increase of less than $500 million in tax revenues

…

...Continue Reading New CBO Estimates: Obamacare Will Cost Businesses Additional $4 Billion in Taxes

R. Kelly Tax Evasion – Owes $4.8 Million Back Taxes – Paid No Tax Since 2005

R. Kelly Tax Evasion - Owes $4.8 Million Back Taxes - Paid No Tax Since 2005

R. Kelly Tax Evasion – Owes $4.8 Million Back Taxes – Paid No Tax Since 2005

So, R. Kelly owes $4.8 million in back taxes, and has not paid a dime in taxes since 2005? What a piece of crap tax evader!

If this was a tax evasion case about any “normal” citizen, he/she would already be doing time in prison, but since it’s someone famous like R. Kelly, he is still running around free as a bird, making more money that he is not paying taxes on.

R. Kelly reportedly owes $4.8 million in back taxes after ‘not paying anything’ on his superstar earnings for almost seven years.

The ‘I Believe I Can Fly’ singer stopped paying taxes in 2005, according to documents filed by the Internal Revenue Service (IRS).

Despite the huge bill, the twice Grammy nominated singer is ‘confident’ the matter can be resolved.

Broken down the 45-year-old owes $1,472,366.77 from 2005, $710,520.51 from 2006, $376,180.11 from 2007, $1,122,694.90 from 2008, $173,815.18 from 2009 and $992,495.24 from 2010, bringing his grand total to $4,848,072.71.

His spokesman told

…

...Continue Reading R. Kelly Tax Evasion – Owes $4.8 Million Back Taxes – Paid No Tax Since 2005