In the twilight of Mayor Michael Bloomberg’s tenure, a New York agency will vote next week to give developers $120 million in tax breaks for two of his signature projects: a new district of offices, apartments and shops on the far west side of Manhattan, and a hotel and mall in a Queens neighborhood filled with auto shops and junkyards.
Shoko Iwasaki looked for years for a tax-free way to pass down a lifetime of savings to her grandson. Prime Minister Shinzo Abe has offered the 71-year-old an answer with a program now helping unlock pensioners’ hoarded wealth.
The furor over scrutiny of Tea Party groups by the Internal Revenue Service, which hurt President Barack Obama politically, has heightened difficulties for tax preparers dealing with the agency, according to a lawyer who specializes in tax-exemption issues.
New York state should end a sales- tax exemption for less-expensive shoes and clothes to cover levy reductions for low- and middle-income residents and property owners, a panel recommended to Governor Andrew Cuomo.
Representative Dave Camp, the top Republican tax writer in Congress, emerged from a meeting with party leaders today without a firm timeline for action after working for almost three years on revisions to the tax code.
Edward C. Taylor’s fascination as a Princeton University chemistry professor with butterfly wing pigmentation led him to invent a compound that Eli Lilly & Co. turned into the $2.5 billion-a-year cancer drug Alimta.