Senators Set Sights On Overseas Tax Havens
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Three senators proposed legislation that would target what they say is $100 billion a year in tax revenue lost each year because of overseas tax havens, in part by forcing hedge funds to track their foreign investors.
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A myriad of financial institutions including banks, mutual funds, insurance companies, investment firms and credit-card companies are sending work to overseas locations.
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WASHINGTON -- Democrats in Congress are preparing a long-awaited plan that seeks to deliver a major tax break to millions of middle-class families -- paid for by raising taxes on upper-income earners.
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House and Senate negotiators sought Monday to clear away roadblocks that have long hindered passage of a corporate tax bill needed to end a costly trade dispute with Europe.
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A tax provision making its way through the House of Representatives would close down IRS audits on hundreds of wealthy Americans who live part of the year in the U.S. Virgin Islands and avoid the higher income taxes paid by mainlanders.
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U.S. subsidiaries of corporations headquartered in tax haven countries such as Bermuda are likely to enjoy advantages over American companies when bidding on federal contracts, congressional auditors said Friday.
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Aching to go home and campaign, senators agree to a bevy of votes today to get their tax overhaul through. By Associated Press. WASHINGTON - The Senate late Sunday resolved a dispute delaying passage of a sweeping
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Four leading Democratic and Republican senators proposed legislation aimed at penalizing China over its export practices.
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With taxes on private equity and hedge funds front and center, many in the industry are looking to Charles E. Schumer, Democrat of New York, for help.
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WASHINGTONââ Senators are turning their attention to a wide-ranging $136 billion corporate tax bill as lawmakers whittle down their workload before leaving town for the elections.
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Faster than you can say &quot;bonus depreciation allowance,&quot; lawmakers adopted two tax bills this year that could have a significant impact on your taxes in 2004 and 2005.
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AmericaÂs biggest corporations are increas- ingly funneling profits earned in the United States to tax havens around the globe, accord- ing to a new study.
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U.S. Sen. Christopher Dodd, chairman  of the Senate Banking Committee, said on Tuesday he plans to  look at the potential impact of legislation that would sharply  raise taxes on private equity firms going public, such as  Blackstone Group LP .
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Kerry advocates eliminating "special tax breaks" for U.S. companies with overseas subsidiaries.
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A second Senate Democrat said Friday he was open to President Bush's idea of letting people divert some of their Social Security taxes to personal retirement accounts as Republican Party leaders tried to allay re-election fears among wavering GOP lawmakers.
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A top Democratic senator on Wednesday said lawmakers were concerned about a slide in the value of the dollar and urged the Bush administration to step up pressure on China to move to a more flexible exchange rate.
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As the United States heads towards a second consecutive presidential election in which the candidates are running neck-and-neck, an often overlooked constituency -- overseas Americans -- are signing up in droves to take part, many for the first time in decades.