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Mar 25, 2014

Bitcoins taxed as property, not currency, IRS says

WASHINGTON, March 25 (Reuters) – Wading into a murky tax
question for the digital age, the U.S. Internal Revenue Service
said on Tuesday that virtual currencies such as bitcoin are to
be treated, for tax purposes, as property and not as currency.

Putting bitcoin and other virtual currencies in the same
category as stocks or bonds in some instances, the IRS said in a
statement: “General tax principles that apply to property
transactions apply to transactions using virtual currency.”

Mar 11, 2014

Anti-union workers win voice in UAW fight at Tennessee VW plant

By Amanda Becker and Kevin Drawbaugh

(Reuters) – The U.S. National Labor Relations Board has decided that anti-union Volkswagen (VOWG_p.DE: Quote, Profile, Research, Stock Buzz) workers can defend the results of a mid-February union election that the United Auto Workers lost at a Chattanooga, Tennessee VW plant.

The NLRB’s unusual ruling on Monday gives anti-UAW groups, such as the National Right to Work Legal Defense Foundation and Southern Momentum, more leverage in the fight over unionizing the plant.

Feb 26, 2014

U.S. Republican offers ambitious, but stillborn, tax overhaul

WASHINGTON, Feb 26 (Reuters) – The U.S. House of
Representatives’ top tax writer released a comprehensive tax
code overhaul on Wednesday, but it was widely seen as
dead-on-arrival in a Congress still deeply divided over fiscal
policy.

Michigan’s Dave Camp, the Republican chairman of the House
Ways and Means Committee, called for simplifying the tax code by
sharply reducing both tax rates and many widely used provisions
that reduce taxable income.

Feb 26, 2014

Little support expected for U.S. House Republican’s tax plan

WASHINGTON, Feb 26 (Reuters) – The U.S. House of
Representatives’ top Republican tax writer will release a plan
on Wednesday to overhaul the tax code, but it was widely seen as
dead-on-arrival in a Congress still deeply divided over fiscal
policy.

The plan from Dave Camp, chairman of the House Ways and
Means Committee, calls for reducing the number of tax brackets
to two from seven, with tax rates of 10 percent and 25 percent
and a 10-percent surtax on annual incomes exceeding $400,000.

Feb 26, 2014

Many big U.S. corporations pay very little in taxes: study

By Kevin Drawbaugh and Patrick Temple-West

(Reuters) – Many of the most profitable U.S. corporations paid little or no federal income tax from 2008 to 2012, according to a five-year study issued on Tuesday by a left-leaning tax activist group.

Citizens for Tax Justice looked at 288 profitable Fortune 500 companies and said that 26 of them – including Boeing Co (BA.N: Quote, Profile, Research, Stock Buzz), General Electric Co (GE.N: Quote, Profile, Research, Stock Buzz) and Verizon Communications Inc (VZ.N: Quote, Profile, Research, Stock Buzz) – paid no federal income tax in the five-year period.

Feb 22, 2014

Thirteen billboards, one paint-shop worker helped defeat union at VW plant in Chattanooga

WASHINGTON/CHATTANOOGA (Reuters) – In the aftermath of the United Auto Workers’ crushing defeat in a vote to represent workers at Volkswagen’s sole U.S. factory, a key question remains unanswered: did conservative politicians and anti-union groups work together to stymie the union?

In an appeal to the National Labor Relations Board on Friday, the UAW said there was a “coordinated effort” by state politicians, anti-union groups and Tennessee’s U.S. Senator Bob Corker to coerce a no vote in the February 12-14 election.

Feb 21, 2014

UAW appeals Tenn. VW plant election to U.S. labor board

Feb 21 (Reuters) – The United Auto Workers filed an appeal
with the U.S. government on Friday, asking it to set aside the
results of an election last week where workers at a Tennessee
Volkswagen plant voted not to join the union.

Citing what it called “interference by politicians and
outside special interest groups,” the union said the U.S.
National Labor Relations Board would investigate the election
and decide if there are grounds to scrap it and hold a new one.

Feb 20, 2014

Fresh from win over UAW, Norquist vows anti-union push

By Kevin Drawbaugh

(Reuters) – Grover Norquist’s trademark cause is fighting high taxes, but the savvy conservative Republican lobbyist just scored a big win on another front – fighting unions – and he wants more, betting on what he sees as a broad shift in U.S. labor politics.

Fresh from helping to crush a unionization drive at a Volkswagen AG plant in Tennessee, Norquist outlined an anti-union strategy that ties labor to liberals, with the long-term goal of sapping union financial support for Democrats.

Feb 16, 2014

UAW legal test of Volkswagen vote would be problematic

WASHINGTON (Reuters) – Workers at a Tennessee Volkswagen AG (VOWG_p.DE: Quote, Profile, Research, Stock Buzz) plant were bombarded with strong anti-union messages before and during their vote to reject unionizing last week, but a legal challenge to the outcome over unfair interference would be difficult to mount.

Tennessee U.S. Senator Bob Corker, other Republican politicians in the state, and several anti-union pressure groups from Washington slugged it out with the United Auto Workers in the campaign to win over employees at the Chattanooga plant.

Jan 17, 2014

Analysis: Wal-Mart case seen a key test in struggle over labor rights

NEW YORK/WASHINGTON (Reuters) – A challenge by the U.S. National Labor Relations Board (NLRB) to Wal-Mart Stores Inc’s treatment of striking workers is likely to become a critical symbol of labor unions’ attempts to organize the many non-union workplaces in the United States in the face of stiff resistance from management.

The wider implications of the showdown for Wal-Mart and other American employers that don’t recognize unions are likely to be much more important than any costs the giant retailer may face if it loses the case, labor experts said.