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Taxpayer Advocate Delivers Annual Report to Congress; Focuses on Taxpayer Service, Collection, Preparer Regulation
(IRS) – National Taxpayer Advocate Nina E. Olson today released her annual report to Congress, warning that increased demands on the IRS have eroded the agency’s ability to meet taxpayer service needs and expressing concern that IRS collection practices are harming financially struggling taxpayers without producing significant revenue gains.
 
New Clarity on Contingent Liabilities
(CFO) – The International Accounting Standards Board started off the new year by proposing new guidance on measuring contingent liabilities related to legal settlements and the retirement and decommissioning of factories and other major assets.
 
Obama Backs Cadillac Tax as Pelosi Faces Discord on Health Bill
(Bloomberg) – President Barack Obama is pushing U.S. House Democrats to drop their opposition to a tax on high- end insurance plans as lawmakers try to craft a final health- care measure by early next month, a Democratic aide said.
 
Fed Officials Positive on Economic Recovery
(FOX) – While continuing to express optimism the nation was emerging from recession, members of the Federal Open Market Committee differed over whether additional stimulus would be required to continue growth …
 
IRS Too Busy to Talk, Watchdog Says
(WSJ) – An expanding slate of duties is stretching the Internal Revenue Service too thin, leading to poor customer service and undermining its ability to collect taxes, a government watchdog said Wednesday.

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