Dean Patterson News
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European Union nations must resume talks on a draft law to overhaul the bloc’s financial market rules, after ambassadors failed to resolve a clash between the U.K. and Germany on competition in derivatives clearing.
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Two banker groups sued the U.S. challenging rules that require financial institutions to report information on accounts held by nonresident aliens that may be shared with 72 foreign governments.
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Intel Corp., the world’s largest chipmaker, sued the U.S. government for $9.3 million in interest on overpaid income taxes.
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Sergio Garcia, the professional golfer, must pay additional taxes on income from endorsements that he claimed was exempt, the U.S. Tax Court ruled, because too much of the money was attributed to payment for his image.
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Google Inc., which is being probed by several tax agencies around the world, is planning litigation against the U.S. Internal Revenue Service over the company’s 2003 or 2004 tax bill, according to a company filing.
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Google Inc.’s planned litigation against the U.S. Internal Revenue Service centers on a domestic, not international, tax dispute, the company said.
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Since 1862, an obscure company called American Bureau of Shipping has been approving oceangoing vessels as seaworthy. The Houston-based firm reported $3.17 billion in revenue and just less than $600 million in profits from ship inspections from 2004 to 2010 and paid no U.S. income taxes on those earnings.
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The U.S. Internal Revenue Service lost a bid to delay a court ruling blocking its regulation of as many as 700,000 tax preparers while an appeal of the decision is pending.
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The U.S. Internal Revenue Service doesn’t have the authority to license hundreds of thousands of tax preparers, a federal judge ruled, throwing out a regulatory system that the agency was introducing in stages.
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Billionaire H. Gary Morse, 75, controls almost every facet of life at the Villages, one of the world’s largest retirement communities.
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