The Daily Deduction

Weekly Tax Inventory - 10/3/2013

estblog - TaxInventory 

Your Taxes are Due, But the IRS Won’t Process Your Refund - The Daily Deduction

The lapse in government funding that went effective on this first day of the government’s fiscal year has caused the IRS to put up “Closed for Business” signs. Pull up to any IRS walk-in center near you and you’re likely to see that it’s all lights-out. Only 8,752 IRS employees will be performing duties until further notice. This small number of employees could decline if Congress doesn’t reach an agreement soon, as the IRS only planned for 5 days of functioning in its FY 2014 Shutdown Contingency Plan. Should the government shut down continue, the Deputy Commissioner for Operations Support will make necessary adjustments to the IRS personnel.

Three years later, IRS informs Tea Party group of its tax-exempt status- Fox News Politics

One of the Tea Party groups targeted by the IRS during the last presidential election cycle has finally received its tax-exempt status.

ObamaCare (Affordable Care Act) Is Not An Insurance Or Healthcare Problem - Forbes

ObamaCare is coming and the world is ending! I’ve heard this for the last 3 years from Republicans and Democrats alike as universal healthcare comes into full affect. Universal healthcare is not the problem. Tax administration is the ObamaCare or Patient Protection and Affordable Care Act’s (“ACA”) problem. More importantly, it’s a problem that the IRS never wanted. Logically, why would anyone want a “tax agency” or the “IRS” to be responsible for “enforcing” universal healthcare!

Will Taxes And Regulation Rein In The Booming E-Cigarette Market? - Forbes

Lorillard (LO -0.02%’s) announcement that it will pay as much as $100 million for a top British e-cigarette manufacturer demonstrates the rapid evolution of what started out as a niche business. On top of Lorillard’s $135 million purchase of blu eCigs in April 2012 and the entrance of high-profile entrepreneurs like Sean Parker and Peter Theil – they invested $15 million into NJOY earlier this year – Lorillard’s investment signals the e-cig business has arrived.

ADM Wants $20 Million In Tax Breaks As Critic Blasts Company For 'Essentially Blackmailing The State' - The Huffington Post

bid by Archer Daniels Midland Company for $20 million in state tax breaks as it decides whether to keep its global headquarters in Illinois drew criticism Tuesday from some state lawmakers, one of whom likened the agribusiness' strategy to blackmail.

Posted To: The Daily Deduction By: Lauryn on 10/3/2013 10:25:53 AM
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