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Corporations have been able to postpone taxes on profits earned overseas so long as those profits remain overseas, and borrowing from a foreign subsidiary has been strictly limited to 30 days or less, lest the money be seen as repatriated profits and taxed accordingly. An IRS notice in October, though, allows companies to receive loans from their overseas businesses for up to 60 days and not have to pay taxes on the profits, so long as the loan is paid back in 60 days. Pay it back in 59 days, and you can roll the loan over three times...
...Gist:Global-health experts remain mindful of the terrible toll disease and war take on the world's children, but a lot less attention is paid to how many kids are claimed each year by accident and injury. Part of that is a numbers game: 10 million children ages 5 and under die annually of disease, while fewer than a million - 829,000 - die from accidents. Still, that's 2,270 children every day, all year, who won't get a chance to grow up. The World Health Organization (WHO) just released its first annual report on the problem, listing...
European nations have a deserved reputation as the world's greenest, with firm carbon caps and a commitment to renewable energy. But that's not the whole story. Eastern European nations, like summit host Poland, remain dependent on heavy industries and polluting power like coal. And lately, given the severe economic downturn, Europe has edged away from its leadership on climate change. On Dec. 11, even as the U.N. summit has begun to heat up, the E.U. will meet in Brussels to vote on its ambitious 20-20-20 plan, which aims to reduce greenhouse gases continent-wide...
...Opted out of living in the Illinois Executive Mansion in Springfield, choosing to remain in Chicago instead...
...Karzai government will have to end its corruption and close down the drug trade. There are plenty of other reforms necessary - the international humanitarian effort is a shabby, self-righteous mess; some of our NATO allies aren't carrying their share of the military burden - but the war will remain a bloody stalemate at best as long as jihadis come across the border from Pakistan and the drug trade flourishes...