“The biggest chunk of money is projected to come from a provision that would force people who inherit IRAs and other retirement plans to take required taxable distributions over five years. Under current law, they take those payments over a longer period that is linked to their life expectancy. The change is expected to generate $3.7 billion in revenue over 10 years. Wyden’s proposal also would require the Secretary of State to revoke passports for delinquent taxpayers. Current law allows the State Department to refuse to issue or renew a passport if an applicant owes child support in excess of $2,500 or certain types of federal debts, but does not extend to tax delinquency.”
(Visited 35 times, 1 visits today)
Related posts:
Google: Not optimistic on future of Bitcoin
Bitcoin exchange Mt. Gox hit by $75 million lawsuit
UK PM calls for new laws to ban the abuse of politicians on social media
$1 Million Bail For Bitcoin Execs Charged With Money Laundering
The government has your baby's DNA
Deadly toll in police chases isn't a new story
Britain preparing to end plans to tax Bitcoin trading
Regional airlines face closings, bankruptcy
Negative rates leading to 'day of reckoning' fear on Wall Street
Officer looking for work in another jurisdiction after running down fleeing suspect
Ex-Port Authority Official Says Christie Knew About Lane Closings
More Americans opting out of banking system
Russia developing new nuclear weapons to counter US, NATO
Mexican drug war claims innocent victims
NH lawmakers kill bill to spy on motorists with license plate scanners