A northern California-based advocacy group called the NorCal Tea Party Patriots sued the U.S. Internal Revenue Service for allegedly breaching its federal privacy rights and the rights of like-minded organizations.
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.
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.
American International Group Inc., the insurer that repaid a U.S. bailout last year, declared its first dividend since the rescue and authorized the repurchase of $1 billion in stock after profit jumped 17 percent. Shares climbed in extended trading.