Business news for Fri, 28 Mar 2008 & with word tax. 18 news.

Bush's projected budget gap of $410 billion for 2008 could widen to $500 billion or more, according to new estimates, as tax collections decline.

For some homeowners, these are tough times. And you know what they say about tough times.

LOS ANGELES (MarketWatch) -- With mortgage payments rising and home values falling, what's a homeowner to do? Rent out the home, or get roommates.

H&R Block Inc. said Friday that the number of retail clients for its core tax business increased 1.3 percent so far this tax season, after figures were adjusted to remove people who were filing tax forms only to receive rebate checks from the government.

A brother of the Minister for Finance Brian Cowen has been named in the latest list of tax defaulters published by the Revenue.

India charges the second highest corporate tax from foreign companies, next only to the US (New York City), says the Forbes magazine. India taxes foreign companies at a maximum rate of 42 per cent while Japan levies a corporate tax of 41 per cent. New York City imposes the highest corporate tax of 46.2 per cent, it said.

Democratic presidential hopeful Hillary Clinton has vowed to plug tax loopholes for 'freeloader corporations' shipping jobs abroad and correct 'wrong' policies of the Bush administration, which were making Americans 'pay the price'. She claimed that that it was the average American who was paying the price for what she termed the wrong-headed policies of the administration. She said plugging tax loopholes will stop freeloader corporations from avoiding $50bn taxes every year.

Buoyed by a 60 per cent growth in income tax collection in Mumbai, Finance Minister P Chidambaram on Friday said he expected the country's financial capital to do even better in the next fiscal.Mumbai is the third city to have an LTU after Bangalore and Chennai. Delhi and Kolkata would be the next centres to have LTUs which provide single-window to corporate to pay all central taxes.

As you file your tax return, do you wonder whether you're likely to get audited?

With time running out to prepare 2007 returns, experts offer entrepreneurs advice on increasing deductions and reducing liability

New provincial money intended to build new roads and bridges will be used to fill a hole in the City of Ottawa's budget, keeping next year's property tax hike at 4.9 per cent as originally planned, city council has decided.

Trade union Solidarity has asked government for a temporary reduction in fuel taxes on news that fuel prices will rise sharply in April.

A Minnesota Senate committee voted Thursday to scale back the JOBZ program under a new tax bill, according to media reports.

Britain's second-biggest pub group, Enterprise Inns, has lashed out at Chancellor Alistair Darling's ?1.5bn tax hike on alcohol, announced in his first Budget earlier this month.

"Has anyone out there," asked an SFGate reader, "heard anybody say anything nice about Larry?" Not so much, at least on SFGate in the wake of The Chronicle's story Thursday on the multibillionaire's $3 million property tax break on his now "functionally...

When President Bush pushed big tax breaks through Congress in 2001 and 2003, Sen. John McCain (R-Ariz.) joined Sen. Hillary Rodham Clinton (D-N.Y.) and other Democrats in opposing them as fiscally reckless. But now that McCain and Clinton are running for president, neither is looking to get rid of...

The economic-stimulus plan that speeds tax rebates to senior citizens and disabled veterans may also provide a 33 percent profit boost over...