Tax Break

Essential reading: IRS targeted groups critical of government, and more

May 13, 2013

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

* Health insurance tax ‘scares the daylights’ out of some small-business owners. J.D. Harrison. Many small-business owners worry that a new tax on insurance providers in the health-care law will mean higher premiums for them, undermining the law’s capacity to lower their health-care costs. Link  

* IRS targeted groups critical of government, documents from agency probe show. Juliet Eilperin – The Washington Post. At various points over the past two years, Internal Revenue Service officials singled out for scrutiny not only groups with “tea party” or “patriot” in their name but also nonprofit groups that criticized the government and sought to educate Americans about the U.S. Constitution. Link  

* IRS focus on conservatives gives Republicans an issue to seize on. Jonathan Weisman and Matthew Wald – The New York Times. The accusations of IRS abuse are sure to fuel an effort that appears to be uniting dispirited Republicans and their conservative political base: investigating President Barack Obama and his administration. Link  

* Greek crackdown on tax evasion yields little revenue in tackling the deficit. Landon Thomas – The New York Times. Politicians, business executives and bankers are being raked through the headlines or incarcerated in a white-collar crackdown as the Greek government goes after people suspected of tax dodging. Link  

* Australia, Switzerland revise tax treaty to target evaders. Enda Curran – The Wall Street Journal. Australia has worked out a revised tax treaty with Switzerland that will give authorities new powers to target millionaire tax evaders, as the government scrambles to shore up its budget ahead of elections in September. Link  

* Anger as no-tax company wins mobile deal. Henry Mance and Kiran Stacey – The Financial Times. A company that has paid no corporation tax for eight years has won a 150 million pounds government tender to improve mobile connectivity, despite calls for it to be excluded from public sector contracts. Link  

* A British-American tax and trade agenda. David Cameron – The Wall Street Journal opinion. We must fight the scourge of tax evasion by promoting a new global standard for automatic information exchange between tax authorities. Link  

* The U.S. Senate is going after the NFL’s non-profit status. Dave D’Alessandro – The Star-Ledger opinion. When the Property Reducing Overexceptions for Sports Act (PRO Sports Act) comes up for a vote, we could see the end of the NFL’s tax exempt status forever. Link 

* Gas tax alternative drive takes wrong turn. USA Today opinion. a number of states are looking at alternatives to the gas tax. Some of the replacements they are coming up with range from punitive to ridiculously complicated to Big Brotherish. Link

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