Posts Tagged ‘Washington
World Bank president plans to leave in June
Linda Young – AHN News Writer Washington, D.C., United States (AHN) – World Bank President Robert Zoellick plans to leave his post after five years when his term expired on June 30. Zoellick began his term under President George W. Bus. He previously served the Bush administration as deputy secretary of state and U.S. Trade [...]
Supreme Court tax case to determine extent of IRS enforcement authority
Tom Ramstack – AHN News Legal Correspondent Washington, D.C., United States (AHN) – The U.S. Supreme Court plans to issue a ruling in a corporate tax shelter case this spring at a time of uncertainty in the tax laws. Some tax breaks for individuals and corporations are scheduled to expire next month but Congress is [...]
Supreme Court tax case to determine extent of IRS enforcement authority
Tom Ramstack – AHN News Legal Correspondent Washington, D.C., United States (AHN) – The U.S. Supreme Court plans to issue a ruling in a corporate tax shelter case this spring at a time of uncertainty in the tax laws. Some tax breaks for individuals and corporations are scheduled to expire next month but Congress is [...]
Bill Gates still richest man in U.S.
Vittorio Hernandez – AHN News New York, NY, United States (AHN) – Microsoft founder Bill Gates kept his top spot on Forbes Magazine’s list of 400 richest Americans with an estimated wealth of $59 billion. Despite his philanthropy, Gates’ value increased by $3 billion, mainly due to an increase in value of Microsoft’s share. Among [...]
Bernanke plays diplomat on next Fed moves, cautions Congress
Tejinder Singh – AHN News Correspondent Washington, D.C., United States (AHN) – There was a recovery in the stock market with indicators closing on a slightly higher level after dipping earlier as Federal Reserve Ben Bernanke on Friday reiterated his views that the next round of efforts to goad the economy on track are now [...]
Changing laws challenging IRS workforce
Tejinder Singh – AHN News Correspondent Washington, DC, United States (AHN) – The already stretched Internal Revenue Service (IRS) workforce is finding it hard to “maintain a quality workforce and enforce tax laws in an environment of changing tax legislation,” according to a review of IRS tax compliance statistics conducted by the Treasury Inspector General [...]
Majority of Americans lack enough savings to handle $1,000 emergency
Linda Young – AHN News Writer Washington, D.C., United States (AHN) – The majority of Americans do not have enough money to deal with a $1,000 emergency, according to the National Foundation for Credit Counseling’s (NFCC). NFCC conducted an online poll in July that found 64 percent of Americans would have $1,000 in savings to [...]
Philippine finance secretary warns of impact of U.S. ratings downgrade on financial markets
Vittorio Hernandez – AHN News Manila, Metro Manila, Philippines (AHN) – Philippine Finance Secretary Cesar Purisima warned that the Standard & Poor’s downgrade of the U.S. credit rating would have an impact on the country’s financial markets. Purisima said the cut would likely result in dampening of overall appetite of fund owners to invest in [...]
Commerce: Americans trim personal spending in June
Linda Young – AHN News Writer Washington, DC, United States (AHN) – Cash-strapped Americans cut back on spending in June by 0.2 percent, which translated to a decrease of $21.9 billion in personal consumption expenditures (PCE), according to the Commerce Department’s Bureau of Economic Analysis. Although personal income was up slightly, personal consumption fell by [...]
Bernanke open to new stimulus program
Vittorio Hernandez – AHN News Washington, DC, United States (AHN) – U.S. Federal Reserve Chairman Ben Bernanke said on Wednesday that the central bank is open to another stimulus program if it were necessary to help the ailing American economy. However, Bernanke said that for the moment the move was not yet imminent. The hint [...]
