Tuesday, Oct. 15,is the filing deadline for the roughly 12 million Americans who received an extension on their 2012 taxes. And having 90 percent of its staff furloughed in the partial government shutdown doesn't mean the IRS doesn't want your money.
"The IRS is shut down, but the tax law is never shut down," says Joshua Blank, professor of tax practice and faculty director of New York University Law School's Graduate Tax Program.
Among the bargaining chips in the budget crisis on Capitol Hill, there's the small but persistent issue of taxing medical device manufacturers.
The 2.3 percent sales tax covers everything from MRI machines to replacement hips and maybe even surgical gloves. The tax was imposed to help pay for the Affordable Care Act. It didn't attract much attention at first — at least, not outside the world of medical device manufacturers.
But they have waged a persistent campaign to undo the tax, and right now is the closest they have come to succeeding.
Originally published on Wed October 16, 2013 7:14 am
The Supreme Court has agreed to review an Obama administration policy that requires new power plants and other big polluting facilities to apply for permits to emit greenhouse gases.
To get these permits, which have been required since 2011, companies may have to use pollution controls or otherwise reduce greenhouse gases from their operations — although industries report that so far they haven't had to install special pollution control equipment to qualify for the permits.
The rule is part of a larger effort by the EPA to regulate greenhouse gases.
Originally published on Tue October 15, 2013 5:03 pm
It's one of the oldest axioms in politics: Voters always say they want to "throw the bums out," except when it comes to their own representative. That's why the re-election rate for House members is typically over 90 percent.
Heading into the 2014 midterms, that long-standing rule appears to be holding true. But against the backdrop of the federal government shutdown, a potential default and general dysfunction in Washington, there are signs it's reaching a straining point.
Fitch Ratings, one of the big three credit ratings agencies, issued a warning shot today, saying that while it affirmed the United States' AAA credit rating, it was placing it on "rating watch negative."
In other words, it was placing the country's long-term credit rating under review for a potential downgrade.
Originally published on Tue October 15, 2013 4:25 pm
Neither of them is over 35 years old. One of them played in ATP World Tour events just months ago; the other did so last year. But none of that will keep recently retired tennis players Andy Roddick, 31, and James Blake, 33, from joining a circuit of senior players.
Rapper Pitbull (Armando Christian Pérez) is the latest in a long list of celebrities lending their star power to the flourishing charter school movement. Alicia Keyes, Denzel Washington, Shakira, Oprah — all support or sponsor charter schools.
Authorities in Moscow have rounded up more than 1,600 migrant workers after an ethnic riot took place over the weekend. Russian nationalists and soccer hooligans attacked a market area in a gritty industrial suburb of Moscow that's home to many migrant workers from the North Caucasus. The riot broke out after police announced that they were searching for a North Caucasian man suspected in the stabbing death of a young, ethnic Slav man. The situation highlights Russia's immigration problem — the country needs migrant labor, but fears what it perceives as foreign influence.
Powell cut her off before she finished. "I don't have that," she said. "No one is difficult. Each person is a beautiful, unique human being. So if you have a problem and you're acting negative, you have been conditioned."