Internal Revenue Service News
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Top U.S. Internal Revenue Service officials knew as early as June 2011 that agents were singling out groups promoting limited government for special attention, nine months before the agency’s head told lawmakers that such targeting wasn’t occurring, according to an inspector general’s report to be released later this week.
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The Internal Revenue Service, under pressure to regulate political spending by nonprofit groups, now faces investigations into its scrutiny of some organizations seeking nonprofit status.
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Quinn Emanuel Urquhart & Sullivan LLP will open an office in Sydney next month with Michael Mills and Michelle Fox of Herbert Smith Freehills.
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The U.S. Internal Revenue Service has opened cases and begun investigations based on what it calls a “substantial amount” of information it has received on offshore companies and trusts.
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Bristol-Myers Squibb Co. sued Roche Holding AG’s Genentech unit seeking a court order that it doesn’t infringe patents used to make treatments for cancer and autoimmune diseases.
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Just weeks after his re-election, President Barack Obama summoned about 20 senior administration officials to the White House’s Roosevelt Room for an hour-long meeting on the implementation of his health-care law.
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Localities from Florida to California are selling taxable bonds at the fastest pace in three years as the additional cost of issuing the debt instead of tax-free financing is near the lowest since 1994.
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Every dollar spent enforcing U.S. tax laws yields $6 in collections, said Treasury Secretary Jacob J. Lew as he urged Congress to support the Internal Revenue Service’s request for a $1 billion budget increase.
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Ohio’s capital city is set to buy back at par as much as $476 million of Build America Bonds it sold in 2009 and 2010 as sequestration will cut the federal subsidies on the debt’s interest costs.
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When Oklahoma energy billionaire George Kaiser opened the Northeast Gateway liquid natural gas terminal in 2008, the floating depot’s first delivery was shipped on the Excellence, a 909-foot supertanker that holds 138,000 cubic meters of LNG -- enough gas to meet more than 4 percent of daily U.S. demand.
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