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...alone could total from $7 billion to $10 billion in refunds due to victims, according to accountant tallies. But don't feel too bad for the IRS. Over the past 20 or more years, it has been collecting taxes on income that never actually existed. Last year the IRS sent out 106 million refund checks totaling $254 billion, so Ponzi victims will hardly empty the refund cookie jar. (See pictures of Madoff's demise...
Late last month, two Senators and three Congressmen sent a two-page, single-spaced letter with 10 questions to the IRS asking for direction in resolving a series of important questions regarding Madoff and Ponzis, such as whether there will be special extensions for victims. The letter also suggested setting up a special "Madoff unit" to process claims. (Read more about Ponzi schemes...
...event was not without context. In May 2007, a debate over racism ensued after HUPD responded to calls about an event organized by black student groups in the Quad. Cabot House residents sent a thread of e-mails questioning the presence of the student groups on the public lawn...
...meeting, designated “Priorities of the Community,” was an open discussion in which Hillel members voiced their concerns regarding their organization’s response to the current financial downturn. Last night’s meeting was inspired in part by an e-mail sent by Hillel member Peter N. Ganong ’09 over the Hillel undergraduate mailing list in late February. “Hillel is in a budget crisis,” wrote Ganong in the e-mail. Ganong also stated that Hillel leaders had expressed the possibility of not having...
...Senate moves come as three House committees - Ways & Means, Energy & Commerce and Education & Labor - sent a letter to President Obama on Wednesday announcing their intention to work together to draft legislation. The cooperation among committees in both chambers is a break from the 1994 attempt at health-care reform, when committee infighting helped sink that effort. Both chambers have said they intend to see legislation reach the floor before the August recess, though many admit the tougher part will come when the differences between the two versions must be reconciled. "The House bill will be the high-water mark...