tax credit
RSS tax creditTax credit fiasco: 8,800 identities stolen
News Of the remaining 2,700 claims where tax credit payments were made into multiple bank accounts using the stolen identities, payments were suspended immediately they were discovered, and all payments were suspended by 16 December 2005. [19 Jan 2006]
Tax-Credit Bonds and the Federal Cost of Financing Public Expenditures
White Paper Tax-credit bonds - bonds on which the federal government pays "interest" in the form of credits against federal income tax liability - have been proposed as a mechanism for financing various expenditures at all levels of government. [29 Jun 2005]
EDS IT failure fingered for "unacceptable" tax credit delays
News The "inadequacies" of government IT systems have been singled out by MPs as the underlying cause of "unacceptable" problems with the new tax credit system and the national insurance top-up fiasco. A stinging Treasury Select Committee report called... [24 Jul 2003]
Tax credit ID theft to be probed by Info Commissioner
News The UK's data protection watchdog has launched an investigation into the tax credit fraud fiasco that resulted from the theft of the identities and personal details of almost 13,000 staff at the Department for Work and Pensions (DWP) and Network... [24 Jan 2006]
Tax credit IT under fresh attack
News Its advisers found it impossible to resolve even simple problems for families because the tax credit IT systems left helpline advisers unable to provide accurate information. The government is facing renewed criticism of the design and... [22 Jun 2005]
The 6th Circuit Cuno Decision Voiding Ohio's Investment Tax Credit: Modest But Helpful "Arms Control" in the "Economic War Between the States"
White Paper On October 19, 2004, a three-judge panel of the federal Sixth Circuit Court of Appeals ruled that the investment tax credit granted against Ohio's corporate income tax violates the commerce clause of the U.S. [20 May 2005]
EDS coughs up £71m for tax credit IT fiasco
News EDS is to shell out £71.25m to the UK government to settle the dispute over problems with the IT systems developed to support the tax credit system. Her Majesty's Revenue & Customs (HMRC) said it has negotiated a settlement of its claim for... [22 Nov 2005]
R&D tax credit for SMEs
News The Inland Revenue has announced that 4,500 small and medium-sized firms will be eligible for a R&D tax credit next year. In a tax credit package proposed in March, Inland Revenue (IR) said it planned to increase the existing 100 per cent... [11 Nov 1999]
Thousands hit by tax credit ID fraud
News The government has been accused of trying to hush up the true scale of tax credit ID fraud with details now emerging that thousands of benefits staff at the Department of Work and Pensions (DWP) have had their details stolen and used by criminals... [14 Dec 2005]
HMRC tax credit system: Lost "almost £10bn"
News The cost of flaws in the UK's tax credit system has increased to almost £10bn according to the Liberal Democrats. The tax credit computer system, designed by EDS and now run by Capgemini, was recently condemned by spending watchdog the Public... [22 May 2008]
£30m ID fraud takes down tax credit website
News The government has come under fire after it emerged ministers have known for months that criminals were using stolen identities to make £30m of fraudulent online tax credit claims. HM Revenue and Customs (HMRC) was warned about the flaw over six... [05 Dec 2005]
1,500 civil servants victims of tax credit ID theft
News HM Revenue and Customs (HMRC) has been forced to close the tax credit e-portal down while it develops new checks to ensure the system is secure. HMRC is also setting up a helpline for any DWP staff who think they might be victims of the tax credit... [02 Dec 2005]
Summary of the Child Tax Credit Provisions of HR 1836 (The Economic Growth and Tax Relief Reconciliation Act of 2001)
White Paper There were four major components to the bill: an across-the-board reduction in marginal tax rates, the reduction (and eventual elimination) of the estate tax, a doubling of the child tax credit, and a reduction of various aspects of the marriage... [19 Jul 2005]
The Earned Income Tax Credit and Labor Market Participation of Families on Welfare
White Paper Between 1990 and 1999, real spending on the earned income tax credit (EITC) increased to $31.9 billion from $9.6 billion (in 1999 dollars). It is by far the largest cash or near-cash antipoverty policy in the United States. [24 Jun 2005]
Should the Senate Raise the Income Limit for the Child Tax Credit?
White Paper Allowing married couples with incomes up to $250,000 to receive the full child tax credit, as the House bill would do, would reduce revenues by $69 billion through 2014, according to estimates from the Urban Institute-Brookings Tax Policy Center. [20 May 2005]
