The U.S. Internal Revenue Service needs to make changes to prevent fraud and improve security in systems it is building to deliver health insurance subsidies, according to an audit by the tax agency’s inspector general.
Opponents of President Barack Obama’s proposed cap on charitable deductions say they have gotten a boost from a bipartisan letter by two Senate Finance Committee members that urges maintaining the tax break.
Janet Yellen’s nomination to be chairman of the Federal Reserve won support from the Senate Banking Committee today in a 14-8 vote, moving her bid to be the Fed’s first female head to the Senate for confirmation.
Four Senate Republicans say they’re inclined to support Janet Yellen to be chairman of the U.S. Federal Reserve, leaving her nomination one vote shy of the 60 she needs to be confirmed by the full Senate.
U.S. companies would face a minimum tax on the income they earn around the world under a plan released today by Senate Finance Chairman Max Baucus that marks his most significant proposal to revamp the tax code.