Taxes | featured news

Flush with re-election vigor, President Barack Obama on Friday will provide his first public comments on the upcoming negotiations with Congress on how to deal with pending tax hikes and spending cuts that create the so-called fiscal cliff facing the economy at the end of the year.

For decades, Switzerland was the place where money went to hide. Cash sent to its mountain aeries was protected by some of the strictest secrecy laws in the world.

A court in Milan Friday convicted former Premier Silvio Berlusconi of tax fraud and sentenced the media mogul to four years in prison, his first prison sentence in years of criminal probes. The 76-year-old billionaire businessman -- who just two days ago said he would not run in Italy's spring election -- is expected to remain free until the appeals process is exhausted. In Italy, cases must pass two levels of appeal before verdicts are final.

Consumers will have to dig deeper into their pockets next year to pay for costlier healthcare, more expensive grocery bills and higher taxes, an extra drag on the country's already slow-moving economy.

President Barack Obama isn't talking about it and neither is Mitt Romney. But come January, 163 million workers can expect to feel the pinch of a big tax increase regardless of who wins the election....

Gov. Christie and his wife paid $141,158 in federal income taxes for 2011 on a combined adjusted gross income of $567,772.

France’s new 75 percent income tax on the rich may not be popular with millionaires. But it’s being cheered by another group: Paris real-estate buyers. Real estate agents say that the number of multimillion-dollar real-estate listings in Paris has jumped more than 25 percent over last year – due in part to the threat of the new income tax. More than 400 new listings have come onto the luxury real-estate market over the past six months, they say.

Billionaire William Koch imprisoned and interrogated one of his executives at a secluded Aspen ranch, under a sheriff's guard, because the executive suspected Koch's companies of tax evasion, the employee claims in Federal Court.

Continuing to embrace a more moderate political persona, Mitt Romney offered assurances on Tuesday that he would protect tax deductions for the middle class on home mortgages and charitable donations. And he also also said he had no plans to pursue new laws limiting abortion.

A comment by Republican presidential nominee Mitt Romney earlier this week regarding how he would overhaul the U.S. tax code set off a back-and-forth between the Romney and Obama campaigns on Wednesday.