March 10, 2010
Tax Office rules to undermine trust
The Tax Office is facing a barrage of criticism after a decision to retrospectively clamp down on a trust structure used for almost three decades by professionals.
State Rep. Jamie Boles says now is not the right time to pass along millions of dollars in tax increases. The House's version of the budget contains $780 million in tax hikes. Democrats contend that they are needed to save thousands of teaching jobs and avoid deep cuts to other state programs. The budget also slashes spending by about $3.5 billion.
Deal still pending in U.S. tax dispute with UBS
The U.S. government, citing difficulties in talks to hammer out a final settlement of its tax-evasion dispute with Swiss bank UBS, asked a U.S. judge Friday to delay a trial in the case set to begin on Monday.
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