Budget for Tax Enforcement to Double in 2010

  Government and Economy Obama Doubles Tax Law Enforcement Budget President Obama has proposed a near doubling of the funds to enforce U.S. tax laws next year, with an aim of more than quadrupling funding for tax compliance to $2.1 billion within five years. Reuters.com Stress Test: Banks Need More Money, Taxpayers May Not Have to Pay True, the stress tests show that the banks need more funds, but that does not necessarily mean they will get that money from the government as the Obama administration is suggesting that the rescue money that Congress has already approved will be enough to fill the gaps. NYTimes.com [Read Full Article]


The Real Corporate Tax Bill—How Much Do Companies Really Pay the IRS?

  Government and Economy The Real U.S. Corporate Tax Bill A new study commissioned by BusinessWeek shows that Corporate America pays the IRS anywhere from zero to 400% of income. Where does your business fall on that line? BusinessWeek.com Banking Industry Bracing for Stress Test Results In a slow-motion move designed to blunt market reactions, federal regulators will soon tell the banks—privately—the results of their stress tests and to release the test methodology, which could point to the banks that may be in trouble and alarm depositors and investors. The results will be r... [Read Full Article]