The penalty for this year could be $2,085 or more, depending on family size and income, says one draft version of the IRS letter. Another draft takes a somewhat different approach, leaving a blank space for the IRS to provide an individualized estimate of what the particular uninsured taxpayer might owe.
Under Matteo Renzi, Italy’s public debt load rose by 2,617 euros ($2,775) per person, despite his promise to cut the amount for the sake of future generations.
The European Central Bank bought a record-breaking €24.7 billion worth of debt last week, taking advantage of a bumper supply of bank bonds to boost its economic stimulus programme.
Brazil will revise its 2017 growth estimate after the International Monetary Fund more than halved its forecast to near-stagnation, Finance Minister Henrique Meirelles said in Davos.
“The expansionary policies of Japan and the ECB more than outweigh the reluctant tightening of the Fed,” said Weber, a former European Central Bank official. “Monetary-policy normalization is not going to happen. You’re going to more likely see the Fed at some point smooth the pace out and move less on interest rates.”
Saudi Arabia estimates growth fell to 1.4 percent in 2016, the lowest since the recession in 2009, as it cut spending by suspending bonuses for public employees and reducing ministers’ salaries. The government has also raised the cost of fuel, and plans to introduce value-added taxes and fees on expatriate workers.
Italy’s public debt, at around 133 percent of national output, is the highest in the euro zone after Greece’s. DBRS put Italy’s rating under review with negative implications in August, citing political uncertainty around a referendum held in December, pressure on banks, economic weakness and a less stable external environment.
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