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Tax

  • November 13, 2013

    Bill Cites Tax, Antitrust Perks To Ban TV Sports Blackouts

    A pair of U.S. senators proposed a bill Tuesday that would restrict professional sporting leagues from enacting television blackouts, saying hometown fans should be able to watch all their team's games since they support it through tax subsidies and because the broadcasts enjoy some exemptions from antitrust laws.

  • November 13, 2013

    UPMC Says It Has No Employees In Tax Status Fight

    The University of Pittsburgh Medical Center asked a Pennsylvania state court Monday to throw out the city of Pittsburgh's suit seeking to end its status as a tax-free charity, arguing that it does not have any employees.

  • November 13, 2013

    NY Hospital Lands $6.3M Through New Markets Tax Program

    Buffalo, N.Y.'s Roswell Park Cancer Institute has landed $6.3 million through the federal New Markets Tax Credit Program to build a 142,000-square-foot clinical sciences center to handle patient care and research, which it expects to pump the local economy with hundreds of new jobs, it said Tuesday.

  • November 13, 2013

    Taxpayers Subsidize High CEO Salaries, Study Says

    American taxpayers are subsidizing hundreds of millions of dollars in CEO compensation, according to a study released Tuesday by Public Citizen.

  • November 13, 2013

    IRS Enforcement Efforts Closing $123B Tax Gap: Watchdog

    Special enforcement measures taken by the Internal Revenue Service to assess and collect unreported personal income tax on international financial accounts is effectively chipping away at the $123 billion annual tax gap, according to an IRS watchdog report issued Wednesday.

  • November 12, 2013

    Wisconsin Senate OKs Boosting Historic Building Tax Credit

    The Wisconsin Senate on Tuesday passed legislation that would double the state's tax credit for redevelopment of historic buildings that were constructed prior to 1936, following the lead of other Midwestern states that have used the tax credit to boost regional development.

  • November 12, 2013

    Wegmans Off Hook For Developer's Tax-Appeal Attys' Fees

    A New Jersey appellate panel freed Wegmans Food Markets Inc. from nearly $58,000 in attorneys’ fees related to a tax assessment appeal, ruling Tuesday that the owner of a Wegmans-anchored shopping center couldn’t, through its lease, assess the fees as back rent.

  • November 12, 2013

    IRS To Step Up Fraudulent Credit Penalty Enforcement

    In the wake of a scathing watchdog report released Tuesday, the Internal Revenue Service announced that it would move quickly to develop new processes for imposing and collecting penalties levied against taxpayers for claiming improper tax credits.

  • November 12, 2013

    Senate Dems Worry Tax-Reform Blowback May Harm Economy

    As Congress continues to ponder changes to the U.S. tax code, a group of Senate Democrats on Friday urged a congressional committee to be on the lookout for changes to the tax laws that could unintentionally harm the economy.

  • November 12, 2013

    IRS Faces Data Security, ACA Woes In 2014, Watchdog Says

    The Internal Revenue Service should expect to deal with serious issues surrounding taxpayer data security, Affordable Care Act compliance and severe manpower shortages due to expected IRS executive retirements, according to an IRS watchdog report released Tuesday.

  • November 12, 2013

    NY Tax Code Changes Shouldn't Be Retroactive, Panel Told

    New York state shouldn't be allowed to retroactively tax a couple who sold their company in a $20 million stock deal because state law didn't allow such a penalty at the time, the couple's attorney told a New York state appeals court during a hearing Tuesday.

  • November 12, 2013

    Bipartisan Senators Join Green Energy Tax Plan

    U.S. Sens. Mary Landrieu, D-La., and Susan Collins, R-Maine, are backing a bill that would allow renewable energy projects to be structured as master limited partnerships, which are taxed as partnerships but have publicly traded ownership interests, bill sponsor Sen. Chris Coons, D-Del., said Tuesday.

  • November 12, 2013

    Tax Prep Giant Can't Escape 'Business Death Penalty'

    An Ohio federal court Tuesday refused to lift a permanent injunction that halted the franchising power and tax return preparations by the fourth-largest tax prep company in the country, saying abuses by the company exacted upon the working poor justify the harm imposed by the injunction.

  • November 12, 2013

    IRS Ruling Bolsters Coverage For Mental Health Under ACA

    The Internal Revenue Service on Wednesday will hand a victory to mental health awareness advocates when it publishes rules on the treatment of mental health care under the Affordable Care Act.

  • November 12, 2013

    Wash. Gov. Inks $9B Tax Package For Boeing

    Washington Gov. Jay Inslee on Monday signed off on aerospace-related tax breaks worth $8.7 billion aimed at enticing Boeing Co. into building its 777X commercial jetliner, as well as the plane's carbon fiber wings, in-state. 

  • November 12, 2013

    Hungary Latest To Sign OECD Tax-Avoidance Agreement

    Hungary on Tuesday became the second nation in a week, and 61st nation in total, to sign an Organization for Economic Cooperation and Development information-sharing agreement that aims to thwart tax evasion by creating a worldwide, automatic exchange.

  • November 12, 2013

    For Iowa, Less Smoking Means Less Cigarette Tax Revenue

    A raised federal excise tax plus a statewide ban on public smoking have led to decreased tax revenue from cigarettes in Iowa, according to a report released by the state in November.

  • November 12, 2013

    Teva Agrees To Pay $720M In Israeli Tax Agreement

    Teva Pharmaceutical Industries Ltd. will pay the Israeli government 2.54 billion shekels ($720 million) in taxes after agreeing to release some undistributed profits and settle tax assessments dating back to 2005, the company said Monday.

  • November 8, 2013

    Wash. State Lawmakers Advance $8.7B Boeing Tax Break Bill

    Washington state's House Finance Committee on Friday approved legislation extending $8.7 billion in tax breaks to the Boeing Co., part of a slew of legislative incentives to be considered over the next week designed to keep manufacturing of the next-generation 777X airliner in the state.

  • November 8, 2013

    Procopio Launches Austin Office With Latin America Focus

    California-based Procopio Cory Hargreaves & Savitch LLP made its first foray into Texas, opening an Austin office specializing in international transactional work with Latin America with plans to grow into a base for its technology practice, the firm announced Thursday.