Taxes News

White House Releases Tax Returns for Obamas, Bidens

Apr 18, 2011 - 7:35 PM |AP

WASHINGTON -- President Barack Obama is making less money than he used to, though it's still a lot: He and wife Michelle reported income of $1.73 million last year, mostly from the books he's...

One Tax Preparer Doubles as a Sex Worker, The Other Does Psychic Readings

Apr 15, 2011 - 7:40 AM |AOL News

Corbis

Most of Lydia Tinker's customers come to her because she does a great tax return, but some come back because they want a psychic reading. For the past 35 years, Tinker, a licensed tax preparer in La...

Congress Sends Budget Cut Bill to Obama

Apr 14, 2011 - 6:49 PM |AP

J. Scott Applewhite, AP

Congress sent President Barack Obama hard-fought legislation cutting a record $38 billion from domestic spending on Thursday, bestowing bipartisan support on the first major compromise between the...

In Budget Plan, Obama Seeks Cuts and Higher Taxes

Apr 13, 2011 - 4:55 PM |AP

WASHINGTON -- Forcefully rejecting Republican budget-cutting plans, President Barack Obama on Wednesday proposed lowering the nation's future deficits by $4 trillion over a dozen years and vowed he...

Budget Tricks Helped Obama Save Favorite Programs From Cuts

Apr 12, 2011 - 10:12 AM |AP

WASHINGTON -- Details of last week's hard-won agreement to avoid a government shutdown and cut federal spending by $38 billion were released Tuesday morning. They reveal that the budget cuts, while...

Possible Deal Near as Shutdown Deadline Approaches

Apr 8, 2011 - 10:00 PM |AP

AFP / Getty Images

WASHINGTON -- Perilously close to a government shutdown, the White House and congressional leaders closed in on a possible deal to cut tens of billions of dollars in federal spending and avert the...

No Budget Deal Yet as Possible Government Shutdown Looms

Apr 6, 2011 - 3:55 PM |AP

AP / Getty Images

WASHINGTON -- The Senate's second ranking Democrat said Wednesday that negotiators on the budget are making progress but that conservative GOP policy prescriptions remain obstacles as they scramble...

Gov't Shutdown Poses Big Risks to Both Parties

Apr 6, 2011 - 3:19 AM |AP

WASHINGTON - Democrats and Republicans say the last thing they want to do is to shut down the government. But with budget talks showing little signs of a breakthrough, there are growing worries that...

Obama: No Need for More Budget Extensions

Apr 5, 2011 - 4:32 PM |AP

AP / Getty Images

WASHINGTON -- Raising the pressure for a budget deal, President Barack Obama on Tuesday rejected a Republican stopgap proposal to extend government operations for a week while negotiators try to...

Arkansas Prepares for $35 Million Tax Cut Package

Mar 20, 2011 - 6:34 PM |AP

LITTLE ROCK, Ark. -- Arkansas is poised to become one of the first states in the nation to enact a significant tax cut this year, showing the sentiment for scaling back government even in places...

When Do Inflation, Debt Become Bigger Worries Than Jobs?

Feb 9, 2011 - 2:28 PM |AOL News

AFP / Getty Images

So much for the jobs-jobs-jobs agenda. The epidemic unemployment gripping the the country may still be the top priority of the Federal Reserve. But other issues loom larger for the new majority in...

'Dangerous' Debt-Limit Deadline Is Delayed by Treasury

Feb 2, 2011 - 3:34 PM |AOL News

Michel Euler, AP

Amid an escalating political fight over the legal limits on U.S. government borrowing, the Treasury today pushed back the deadline for a "catastrophic" default to midspring, citing an unexpected...