taxes

Feds probe alleged hacking theft of Romney's tax returns

The U.S. Secret Service is looking into claims that someone stole presidential nominee Mitt Romney's income tax returns and is threatening to release them if he doesn't pay up.

Secret Service spokesman George Ogilvie told CNET today that the agency is investigating, but had no further comment.

The claim was made in a post on the Pastebin site on Sunday that alleged that Romney's federal tax returns were taken from the offices of PriceWaterhouse Coopers in Frankin, Tenn., on August 25 by someone who snuck into the building and made copies of the document. The message … Read more

Google may face U.K. parliament over tax-avoidance strategies

Google has found a way to avoid paying boatloads in taxes. And U.K. parliament members are not too happy about it, according to a new report.

By the end of March, a Google executive could be brought before parliament members to explain how the company saves so much in taxes, despite generating massive profits each year, the U.K. newspaper The Independent is reporting, citing a discussion with a member of the parliament's Treasury Select Committee.

The Independent claims that Google paid only 6 million pounds ($9.4 million) in U.K. taxes last year, despite generating a … Read more

The 404 1,102: Where we've spared no expense (podcast)

Leaked from today's 404 episode:

- A preview from Jeff's interview with Jay Chandrasekhar and Kevin Heffernan. Their new movie is on iTunes, on-demand, and in theaters today.

- A real Jurassic Park might be hitting the Middle East.

- World of Warcraft is losing subscribers and Activison's stock is paying the price.

- The truth about winning Olympic medals and the subsequent taxes.

- Watch CNET Update every week day and follow the show and Bridget on Twitter!… Read more

SEC looks into Sprint's tax collection practices

Sprint Nextel said today that the Securities and Exchange Commission is looking into the company's tax collection practices, following a related lawsuit filed by the state of New York.

In April, New York Attorney General Eric Schniederman filed a lawsuit against the Overland Park, Kan., wireless carrier, alleging it had stiffed New York state out of $100 million in taxes. Schniederman sought $300 million as a penalty.

Specifically, the suit deals with whether Sprint properly collected taxes from its customers to be paid to New York.

The SEC probe could suggest that the issue goes beyond New York. Sprint … Read more

Apple gets key endorsement for Nevada data center

Apple is one step closer to being offered $89 million in tax breaks to set up a data center in Biggest Little City in the World, aka Reno, Nev.

The Nevada Board of Economic Development approved a deal on the plan today that was initially negotiated by Reno's city council, according to the Associated Press. Despite, the state being closer to inviting Apple to set up shop, there are still a few more logistics the government must sort out.

Nevada Governor Brian Sandoval, who backs the deal, called the board's decision a "win" for the state, … Read more

Senate to debate whether online retailers must collect sales tax

The Senate could soon decide whether consumers will have to shell out taxes on more of their online purchases.

The U.S. Senate Committee on Commerce, Science, and Transportation is scheduled to hold a hearing today to examine the current policy that exempts many online retailers from collecting sales tax. The present ruling is based on a 1992 Supreme Court decision, which found that businesses without a physical presence in a state are not required to collect state sales tax.

But up for debate this afternoon is the Marketplace Fairness Act (PDF), which would reverse the Supreme Court decision. Senators … Read more

5 citizens who left the U.S. to avoid paying tax

Renouncing U.S. citizenship

With news this week that Denise Rich, ex-wife of a renowned tax-dodger, is renouncing her U.S. citizenship and thereby avoiding taxes, we decided to take a look at other successful citizens who became ex-pats in order to avoid filing a 1040. Apparently it's getting more common as the IRS cracks down on undeclared and untaxed foreign holdings.

Tax attorney Jim Duggan says it's not too difficult for an American to renounce U.S. citizenship. All it takes is an appearance at a U.S. embassy or consulate, some paperwork, and an exit … Read more

Sprint seeks dismissal of NY suit alleging tax fraud

Sprint Nextel today filed a request to dismiss a lawsuit alleging it had stiffed New York out of $100 million in taxes.

Sprint filed its request to a New York state court, arguing that its practices don't violate New York law.

In April, New York Attorney General Eric Schniederman filed his lawsuit against Sprint. He sought a penalty of $300 million for the company's alleged failure to pay taxes.

Sprint at the time denied the allegations. The company declined to comment beyond the filing today.

The company, however, noted in its filing that New York was attempting to … Read more

iPhone makes the 'Leap' into the prepaid zone

We're dropping down from space, getting touchy with Windows 8 and leaping over a new iPhone carrier:

The iPhone has taken a leap into the prepaid, no-contract world. Beginning in late June, the prepaid carrier Leap Wireless will sell Apple's iPhone under the Cricket service. This makes it the first carrier to sell the iPhone without a contract. But don't expect the iPhone to come cheap. The 16 GB iPhone 4s will be priced at $500 dollars.

So that leaves T-Mobile in the corner, just tapping its foot waiting for its turn to dance with Apple. With … Read more