Long-Term Capital&#39;s Loss in Tax Case May Help IRS Hinder Abuses
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Long-Term Capital Management LP, whose failure in 1998 forced a bailout by Wall Street&#39;s biggest investment banks, has to pay $56 million in tax and penalties after a judge said the hedge fund claimed an improper deduction.
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An IRS move will prove taxing for H&R Block and Jackson Hewitt.
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A federal judge ruled yesterday that Long Term Capital Management, the giant investment fund that nearly imploded in 1998 and received a $3.
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People living in states without income taxes could see their federal income taxes fall by about &#36;500 if they itemize deductions under the corporate tax overhaul approved by Congress.
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A twist on tax-loss selling keeps you in the game.
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H&R Block Inc. , the largest U.S. tax preparer, posted a fourth-quarter loss on Thursday, as the deterioration of the U.S. subprime market hurt the value of its mortgage business.
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The looming political battle over how to reform the tangled U.S. income tax code could get ugly. But one option, a tax aimed at boosting savings, holds promise.
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Telecommunications gear maker Lucent Technologies Inc. may receive an &#36;816 million federal income tax refund related to its multibillion dollar losses at the height of the telecom industry slump.
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About 200,000 families could lose their tax credits because they have not renewed their claims, the government says.
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A taxpayer who made more than $1 million had a one-in-16 chance of being audited by the IRS in the fiscal year just ended, up slightly from the year before.
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While many deals on operating systems for corporations result in a loss for one side or the other, this case could be seen as a net benefit for both.
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Advocate tells Congress taxpayers should receive up to $1,000 in âapology paymentsâ if the Internal Revenue Service mishandles their case.
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President Bush&#39;s &quot;revenue-neutral&quot; tax reform needs losers to balance its winners, and people claiming the federal deduction for state and local taxes may be in administration planners&#39; sights, news reports say.
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NEW YORK -- An income tax benefit narrowed Computer Associates International Inc&#39;s loss dramatically in the second quarter. The company reported Wednesday a net loss of $96 million, or 16 cents per share, but
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An income tax benefit narrowed Computer Associates International Inc's loss dramatically in the second quarter.
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The mixed results in its latest earnings report may get lost in the wording.
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H&R Block looks to put its subprime woes behind it.