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Tuesday, January 10, 2012

Taxes

News                                                                                                                             
USA Today | IRS revives program seeking back taxes from offshore schemes
The Internal Revenue Service is reviving a program that lets Americans hiding their money abroad pay back taxes and penalties while avoiding criminal prosecution, an effort that in recent years has netted the government billions of dollars.
WSJ | More Firms Enjoy Tax-Free Status
...such firms don't employ an army of accountants to shield profits in complex tax shelters. Their enviable tax position is perfectly legal and has been encouraged by Congress and state governments.

Econ Comments                                                                                                             
AEI | Railroad taxes, discrimination, and the 4-R Act: A misstep by the Eighth Circuit
The court held that the sales tax could not discriminate against railroads because it was legally imposed on the company providing repair services to railroads rather than on the railroad receiving the services.