* Uneven IRS scrutiny seen in political spending by big tax-exempt groups. Nicholas Confessore – The New York Times. For the I.R.S.’s bipartisan legion of critics, the agency’s record has underscored its contradictory and seemingly confused response to the fastest-growing corner in the world of unlimited political spending. Link
* 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
* Falling deficit alters debate. Damian Palleta – The Wall Street Journal. Rising government revenue from tax collections and bailout paybacks are shrinking the federal deficit faster than expected, delaying the point when the government will reach the so-called debt ceiling and altering the budget debate in Washington. Link
* Swiss bank tied to indictment ponders U.S. registration -sources. John Letzing – The Wall Street Journal. A Swiss private bank that recently suspended an executive who allegedly helped U.S. taxpayers evade obligations is considering opening a U.S. branch, two people familiar with the matter said Wednesday, a step intended to help it comply with U.S. regulations. Link
* Tax proposals open a debate on airline industry’s troubles. Susan Stellin – The New York Times. A $300 domestic airline ticket now includes about $60 in taxes — or 20 percent of the total fare — which pays for things like air traffic controllers, airport improvements, customs and immigration inspections and checkpoint screening. Link
* Tax rewrite in play on Capitol. John McKinnon – The Wall Street Journal. Talk about overhauling the tax code is picking up across Capitol Hill this spring, with lawmakers of both parties agreeing on the need to simplify the system but remaining far apart on the details of how to do it. Link
It’s generally been thought the main exit strategy for Wall Street-backed firms that are buying distressed homes to rent them out, is to convert to a REIT and file for an IPO. That attempt to cash-out on the single-family home trade has obvious benefits for the big institutional buyers but risks for retail investors as the math behind the buy-to-rent model becomes increasingly suspect.