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Taxpayers Win 14% of Tax Cases
(Legal Times) – National Taxpayer Advocate Nina Olson, in her recently-released annual report to Congress, listed the 10 tax issues most litigated in the federal courts. Of the 923 cases involving those issues, taxpayers prevailed in whole, or in part, in 132, or roughly 14 percent.
 
Rangel Unsure If A Retroactive Estate Tax Will Be Passed
(Dow Jones)- Rep. Charles Rangel (D., N.Y.), chairman of the House Ways and Means Committee said he is unsure whether there will be legislation to re-impose the federal estate tax retroactive to Jan. 1.
 
Obama to Unveil Proposal on Bank Taxes
(WSJ) – President Barack Obama is expected Thursday to propose taxing large banks and other companies based on their exposure to risk, White House officials said…If approved by Congress, the new tax — which the White House calls a “financial crisis responsibility fee” — would force about 50 banks, insurance companies and large broker-dealers to collectively pay the federal government roughly $90 billion over 10 years.
 
Fraud Case Feeds Sarbox-Exemption Critics
(CFO) – A finance executive’s alleged embezzlement of as much as $31 million over five years from headphone-maker Koss Corp. could serve as fodder for critics of legislation that would permanently exempt smaller publicly traded companies from fully complying with the Sarbanes-Oxley Act.
 
Beige Book : Fed Sees ‘Modest’ Improvement in Economic Conditions
(FOX) – “While economic activity remains at a low level, [economic] conditions have improved modestly” according to the Federal Reserve’s Beige Book released in advance of the Federal Open Market Committee’s January 26-27 monetary policy meeting. The Beige Book said the “improvements are broader geographically” than they were at the beginning of December. The Beige Book reiterated concerns about the labor market.

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