The real Buffett Rule: Tax cuts for corporate jets

President Obama, Democrats in Congress, and Obama’s billioinaire fundraiser Warren Buffett are talking this week about a tax hike proposal that is mostly about politics, but meanwhile, the IRS just issued guidance on changing tax law in a way that is mostly about increasing profits for corporate-jet owners and Obama’s billionaire fundraiser Warren Buffett, who…

Read More

Government sues Buffett’s NetJets unit for unpaid taxes

NetJets Inc, a private jet-sharing company owned by Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) (BRKb.N), was sued for $366.3 million by the government to recover unpaid taxes, four months after sued the government for nearly twice as much. Four NetJets units have “failed, neglected or refused” to pay excise taxes and related penalties between 2003…

Read More