© 2016 Prof. Farok J. Contractor, Rutgers University Source: The Economist, April 9, 2016 Individual Americans will finish filing their returns on April 18, 2016, contributing approximately $3.1 trillion in income and social insurance (Social Security and Medicare) taxes to the highest federal government revenue of any nation on earth. But the US government will spend … Continue reading Happy Tax Day, USA (April 18, 2016): How are corporations and individuals footing the tax bill?
© 2015 Prof. Farok J. Contractor, Rutgers University The question of multinational companies avoiding taxes is inevitably going to become a hot issue for the US, Europe, and other major economies. Voices from both the political left and right have an ax to grind. Moreover, three separate tax issues—(1) the average tax US-based multinationals actually pay, … Continue reading International Tax Avoidance: Clarifying Multinational Company Tax Issues
© 2014 Prof. Farok J. Contractor, Rutgers University The internet era, where the cost of an international phone call is near zero, has also seen a rise in telephone scams emanating from foreign countries. On returning from India, I called my wife’s attention to an article in the April 4, 2014 edition of India Abroad: “Over 20,000 taxpayers victims … Continue reading Beware the Million-Dollar IRS Phone Scam