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...this year has issued 113 notices, many of which will lower the taxes companies will pay this year and in the future. That breaks the previous record of 111 in 2006, and is nearly double the 65 issued in the last year of Bill Clinton's presidency. Lawmakers, too, have passed tax changes and are pushing for more, which will save corporations billions of dollars this year. One of the biggest windfalls could come from a proposed change in the so-called carryback rule, which would fatten the tax rebate companies get when they have losses. The extension would...
...issued a notice to change that rule to allow banks to significantly lower their taxes when they purchase other banks. Now, after an acquisition, a bank can reduce its IRS bill by claiming that loans on the books of an acquired rival are worth far less than the previous owners thought, not a hard claim to make these days. The acquirer can deduct from its taxes the full amount of the write-down. Before it could only lower its taxable earnings by a small percentage of the write-down of the preacquisition loans. (Read "Can Congress Pass an Auto Bailout...
Harvard’s endowment—the largest in higher education—fell 22 percent in four months from its June 30 value of $36.9 billion, trumping the previous record loss of 12.4 percent in 1974, according to a letter from University President Drew G. Faust last week...
...proposal was based on previous work by graduate student Remy P. Chait showing that, in some cases, using certain types of drug combinations can make it unfavorable for the bacteria to become resistant to one of the drugs in the combination...
...Previous generations had awkward phases. Woodstock? Awkward. The 80’s? Awkward. Valley Forge? I missed it, but I’ve heard things. But somehow they weathered them and went on to live productive lives. Growing up used to mean overcoming your fear of awkwardness and calling Peggy Sue on the rotary phone to invite her to a sock hop. But thanks to technology, our generation has been able to bypass those stages. Why call Peggy when you can IM her instead? Not only won’t she hear your voice trembling, but you?...