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Apr 17, 2013

Letter sent to U.S. senator tested positive for ricin

WASHINGTON, April 16 (Reuters) – U.S. officials said they
intercepted a letter sent to Republican Senator Roger Wicker on
Tuesday that tested positive for the deadly poison ricin, and
that the U.S. Capitol police, FBI and other agencies had
launched an investigation.

The letter was postmarked from Memphis, Tennessee, and had
no return address, Terrance Gaines, the Senate sergeant at arms,
said in a warning to members of the Senate.

Apr 16, 2013

Tax filing changes could help fight refund fraud: IRS

WASHINGTON (Reuters) – Changes to the tax filing process may be needed to fight tax-refund fraud, the top tax collector told a congressional panel on Tuesday, a day after the federal tax filing deadline.

In steps that could lead to slower processing of tax refunds, Internal Revenue Service Acting Commissioner Steven Miller said a delay in the start of the tax filing season could help fight refund fraud.

Apr 16, 2013

U.S. tax filing changes could help fight refund fraud -IRS

WASHINGTON, April 16 (Reuters) – Changes to the U.S. tax
filing process may be needed to fight tax-refund fraud, the top
U.S. tax collector told a congressional panel on Tuesday, a day
after the federal tax filing deadline.

In steps that could lead to slower processing of tax
refunds, Internal Revenue Service Acting Commissioner Steven
Miller said a delay in the start of the tax filing season could
help fight refund fraud.

Apr 16, 2013
via Tax Break

Essential reading: Tax filings slow as collection rises, and more

Photo

Welcome to the top tax and accounting headlines from Reuters and other sources.

 * Tax filing is slow, but collections rise. John McKinnon – The Wall Street Journal. The fiscal-cliff deal continues to slow tax filing, thanks to changes that required the Internal Revenue Service to delay the tax season’s opening. Link

 * House votes to crack down on tax-delinquent contractors but not individuals. Josh Hicks – The Washington Post. The House on Monday unanimously backed legislation to bar federal funding for contractors that fall behind on taxes but rejected a proposal to prohibit tax-delinquent individuals from working for the federal government. Link 

Apr 16, 2013

Immigration bill increases visas for skilled workers, tightens rules

WASHINGTON (Reuters) – The Senate immigration bill outlined Tuesday attempts to meet long-sought demands from America’s technology sector for more high-skilled workers from abroad to fill the gap created by a shortage of American candidates.

Under the proposed bipartisan legislation outlined Tuesday, the official quota of “H1-B” visas for high-skilled, foreign workers would increase by 69 percent to 110,000.

Apr 16, 2013

U.S. immigration bill increases visas for skilled workers, tightens rules

WASHINGTON, April 16 (Reuters) – The U.S. Senate immigration
bill outlined Tuesday attempts to meet long-sought demands from
America’s technology sector for more high-skilled workers from
abroad to fill the gap created by a shortage of American
candidates.

Under the proposed bipartisan legislation outlined Tuesday,
the official quota of “H1-B” visas for high-skilled, foreign
workers would increase by 69 percent to 110,000.

Apr 3, 2013

Brazil royalties dispute lands 3M, IRS in U.S. Tax Court

WASHINGTON, April 3 (Reuters) – The U.S. Internal Revenue
Service and 3M Co are fighting over royalty payments
from the company’s Brazilian unit to its U.S. headquarters in a
case that highlights how tax complications often emerge from
doing business in Brazil.

Brazil has no tax treaty with the United States. Last year,
it was the largest U.S. trading partner lacking such an
agreement. As a result, the country is often at the center of
tax disputes between U.S. companies and the IRS.

Apr 2, 2013

Victoria’s Secret case tests U.S. manufacturing tax break

WASHINGTON, April 2 (Reuters) – If an outside contractor
makes lotions sold by Victoria’s Secret, should the lingerie
retailer known for its curvaceous models get to claim a tax
deduction for manufacturing products in the United States?

That is the basic issue before the U.S. Tax Court in
Washington, D.C., as L Brands Inc, owner of Victoria’s
Secret and Bath & Body Works stores, quarrels with the Internal
Revenue Service over about $25.4 million in tax breaks.

Mar 28, 2013

Analysis: Gay marriage rights may carry bigger U.S. tax burden for some

WASHINGTON (Reuters) – If the U.S. Supreme Court strikes down a federal law defining marriage as between a man and woman, the newfound rights for gay married couples may bear something not so welcome – a bigger tax burden.

That’s because with equality, gay couples will face the same tax woes of many heterosexual couples with similar incomes, including the tax hit known in America as the marriage penalty.

Mar 28, 2013

Gay marriage rights may carry bigger U.S. tax burden for some

WASHINGTON, March 28 (Reuters) – If the U.S. Supreme Court
strikes down a federal law defining marriage as between a man
and woman, the newfound rights for gay married couples may bear
something not so welcome – a bigger tax burden.

That’s because with equality, gay couples will face the same
tax woes of many heterosexual couples with similar incomes,
including the tax hit known in America as the marriage penalty.