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IRS says Fedex owes $319 mln in back taxes: filing (Reuters) E-mail

File photo shows FedEx trucks lined up at a FedEx facility in Denver, Colorado, September 23, 2006. Fedex Corp said on Friday that the U.S. Internal Revenue Service found that its FedEx Ground independent contractors should be reclassified as employees for tax purposes and that the company faced related taxes and penalties of more than $319 million for 2002. (Rick Wilking/Reuters)Reuters - Fedex Corp said on Friday that the U.S. Internal Revenue Service found that its FedEx Ground independent contractors should be reclassified as employees for tax purposes and that the company faced related taxes and penalties of more than $319 million for 2002.
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Amgen and HP May Pay More Taxes as Credit Expires (Bloomberg) E-mail
Bloomberg - Dec. 21 (Bloomberg) -- Hewlett Packard Co. and CA Inc. are among thousands of U.S. companies that may see their taxes rise in 2008 because Congress adjourned without extending a tax credit for research.
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Amgen, HP May Pay Higher Taxes as Research Credit Expires (Bloomberg) E-mail
Bloomberg - Dec. 21 (Bloomberg) -- Hewlett Packard Co., CA Inc. and thousands of other U.S. companies may see their taxes rise in 2008 because Congress adjourned without extending a tax credit for research.
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TSA draws travelers' complaints (AP) E-mail

Mary-Carroll Lee ties her shoe at the Los Angeles International Airport in Los Angeles in this Jan. 10, 2007 file photo, after having gone through a security screening. Your hand santizer makes it through the security checkpoint in one airport, but it's confiscated in another. You wait in long lines to get screened because only two out of six lanes are open. And occasionally you receive an all-too-intimate patdown. These are among the frustrations and inconveniences that turn up in the complaint files at the Transportation Security Administration, which has become for many Americans the most prominent — and hated — face of the federal government. (AP Photo/Ann Johansson, File)AP - Hand sanitizer makes it through security in one airport, then it's confiscated at another. Screening lines back up because only two of six lanes are open. And then there's the occasional all-too-intimate patdown. Those complaints and other frustrations make the nation's airport security agency about as popular as the IRS.
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Treasury releases corporate taxes report (AP) E-mail
AP - The Treasury Department released a long-awaited study Thursday on overhauling corporate tax laws, detailing several options but making no recommendations on what course to pursue.
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Home Office Deduction Many people whose small businesses qualify them for a home office deduction are afraid to take it because they've heard it will trigger an audit. But this deduction is no longer a red flag for an IRS audit. These tips can help you determine if you qualify to take the deduction--and rest easy when...
Brought to you by TurboTax.com
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How To
Take Advantage of 0% Cap Gains Before It's Too Late Take advantage of the 0% tax rate on long-term capital gains before it's too late.
General
Philly trying to preserve jobs while making cuts (AP) AP - Nearly a year ago, Mayor Michael Nutter took office amid glowing optimism: With the slogan "A New Day, A New Way," he promised to add hundreds of police officers, scale back taxes and help more Philadelphians get college degrees.
 
Filing Taxes
5 Smart Ways to Use That Refund Sample ImageWhile nobody likes filing tax returns, most people are rewarded handsomely for their efforts: About 75% of taxpayers get a refund, according to the Internal Revenue Service. In 2005, the average refund rang in at more than $2,000, a nice chunk of change.
Investment Taxes
OMB Control Numbers The Disclosure, Privacy Act, and Paperwork Reduction Act Notice for the
IRS Form 1040 states in part:
You are not required to provide the information
requested on a form that is subject to the Paperwork
Reduction Act unless the form displays a valid OMB
control number.
The fact that such a warning is printed on the IRS Form 1040
 
Work and Business Taxes
Tax Tips for Married Business Owners When married couples run unincorporated small businesses, they can really get nailed by the federal self-employment tax (SE tax). In fact, these small-business owners often face SE tax bills that exceed their federal income tax bills.
Home and Family Taxes
Broke states offering amnesty for tax cheats Desperate to bring in revenue in the middle of a recession, states across the country are adopting tax amnesty programs, offering to let people pay their past-due bills.
 
 
  • Newsflash
    AP - More than 3 million people will have to wait until February to get their tax refunds because of Congress' late fix to the alternative minimum tax, the IRS said Thursday.
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