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by Michael S. Derby, the Wall Street Journal

Federal Reserve Bank of Dallas President Richard Fisher said Friday he supports ending the central bank’s bond-buying stimulus program this year, while adding it is very likely that very low interest rates will prevail for some time to come.

“There is abundant liquidity to finance economic expansion, and the [Federal Open Market Committee] will assure that it remains affordable as long as the prospect of inflation rising above its 2% target remains in abeyance,” Mr. Fisher said in the text of a speech prepared for delivery before a local group in New Orleans.

Mr. Fisher is a voting member of the Fed’s monetary-policy...

The U.S. House Ways and Means Committee approved $310 billion of tax breaks, as Republicans defeated Democratic objections to the plan’s budgetary costs. Are you keeping up with what Uncle Sam has in mind? Contact Neikirk Mahoney & Smith CPAs. They keep up with what's going on in Washington. Click...

By Michael Cohn, Accounting Today
The Internal Revenue Service anticipates that nearly 5 million taxpayers will amend their returns by filing Form 1040X this year. If you're considering doing the same thing, contact Neikirk, Mahoney & Smith CPAs at (502) 896-2999.
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Now that tax season is over for most of us, now would be a good time to re-evaluate your resources to make sure you're getting the most bang for your accounting buck.

The Internal Revenue Service today reminded people with home-based businesses that this year for the first time they can choose a new simplified option for claiming the deduction for business use of a home.
In tax year 2011, the most recent year for which figures are available, some 3.3 million taxpayers claimed...
BY JEANNA SMIALEK



BLOOMBERG
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The House Committee on Oversight and Government Reform reports that the IRS had a political agenda in regulating tax-exempt organizations

Read more here - ...
from the Wall Street Journal
by Ben Leubsdorf and Jeffrey Sparshott
WASHINGTON—The U.S. labor market in February picked up from recent months, though growth remained measured and the unemployment rate stubbornly high.
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(Bloomberg) House Speaker John Boehner said an IRS official should be held in contempt if she continues to refuse to testify on the agency’s scrutiny of Tea Party groups.
Lois Lerner, who retired from the Internal Revenue Service in September amid the inquiry, exercised her Fifth Amendment right against self-incrimination at a...

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