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Sep 28, 2013

U.S. Republicans reject Senate bid to avoid government shutdown

WASHINGTON (Reuters) – The U.S. government edged closer to a shutdown Saturday as Republicans in the House of Representatives promised to reject an emergency spending bill approved by the Senate and push instead for a one year delay of President Barack Obama’s healthcare reform law.

In the latest round of high-stakes brinkmanship between Democrats and Republicans, Republican leaders said after a closed-door meeting that the House would vote on Saturday afternoon on their latest plan to scuttle the healthcare law, known as “Obamacare.”

Sep 27, 2013

Factbox: U.S. IRS still has long to-do list on Obama health law

WASHINGTON (Reuters) – As the sweeping new U.S. healthcare law takes hold, the Internal Revenue Service and the Treasury Department are working on a long list of jobs to help implement “Obamacare.”

The IRS is playing a major part in rolling out President Barack Obama’s new insurance system, meant to help millions of uninsured Americans obtain adequate healthcare coverage.

Sep 27, 2013

U.S. IRS still has long to-do list on Obama health law

WASHINGTON, Sept 27 (Reuters) – As the sweeping new U.S.
healthcare law takes hold, the Internal Revenue Service and the
Treasury Department are working on a long list of jobs to help
implement “Obamacare.”

The IRS is playing a major part in rolling out President
Barack Obama’s new insurance system, meant to help millions of
uninsured Americans obtain adequate healthcare coverage.

Sep 20, 2013

Senior U.S. Republican to target state, local tax deduction

WASHINGTON (Reuters) – The U.S. Congress’ top Republican tax law writer is drawing up a plan to rewrite the tax code and is likely to recommend repeal of a popular and costly federal tax deduction for state and local taxes paid, congressional aides said.

Expected to unveil his plan soon, House of Representatives Ways and Means Committee Chairman Dave Camp is pushing forward with the idea of a tax code overhaul despite expectations that this Congress is too fractured to take on such a big project.

Sep 18, 2013

IRS chief says backlog from ‘Tea Party’ affair reduced

WASHINGTON (Reuters) – The U.S. Internal Revenue Service has reduced a backlog of applications for tax-exempt status from political groups that accumulated while the agency was giving extra scrutiny to some of the forms, the acting IRS chief said on Wednesday.

Danny Werfel updated lawmakers at a hearing on the state of affairs at the IRS months after a furor erupted over the scrutiny that some IRS agents applied to applications from conservative groups with “Tea Party” in their names.

Sep 6, 2013

IRS training video spoofing ‘Apprentice’ draws Republican fire

WASHINGTON (Reuters) – Republicans in the House of Representatives on Friday released another embarrassing U.S. Internal Revenue Service training video, this one a spoof of “The Apprentice” television program that shows IRS workers coming up with ideas to save money on conferences.

The House Ways and Means Committee released the 2011 parody of the show starring real estate mogul Donald Trump after a report released in June detailed lavish spending at a 2010 IRS conference, including a video parody of the television show “Star Trek.”

Sep 5, 2013

U.S. moves to lighten employers’ reporting burden under Obama health law

WASHINGTON (Reuters) – The U.S. Treasury Department on Thursday issued proposed rules that would ease the administrative requirements for companies and insurers when they report employees’ health coverage information to comply with President Barack Obama’s signature healthcare law.

The proposed regulations are a key element of the employer mandate portion of the law. Implementation of the rules had been delayed while the Treasury Department attempted to simplify them to address concerns of employers.

Aug 29, 2013

Romney’s untaxed ’47 percent’ of Americans shrinks, center says

WASHINGTON (Reuters) – The “47 percent” of U.S. households who owe no federal income tax, memorably disparaged last year by former Republican presidential candidate Mitt Romney, has shrunk to 43 percent, said the research group that produced the original estimate.

New data on Thursday from the nonpartisan Tax Policy Center said 43 percent of households will owe no federal income tax in 2013, down from an estimated 47 percent in 2009.

Aug 29, 2013

U.S. Treasury grants wide tax recognition to same-sex couples

WASHINGTON (Reuters) – All legal same-sex marriages will be recognized for U.S. federal tax purposes, the Obama administration said on Thursday, allowing married gay couples to claim the same tax benefits as their heterosexual peers.

As expected after a landmark Supreme Court ruling in June, the U.S. Treasury and Internal Revenue Service said:

Aug 28, 2013

Corporate breaks at risk in U.S. plans to cut tax rates

WASHINGTON (Reuters) – Billions of dollars in U.S. tax breaks prized by manufacturers, energy companies and other industries could be targeted for elimination when two powerful lawmakers are expected to introduce proposals to overhaul the United States’ tax system.

The plans could be introduced as early as September and face tough odds in a Congress where disputes over nearly every tax and spending issue threaten a crisis.