IRS cracks down on tax cheats and frivolous protestors
Washington The Internal Revenue Service unveils a tougher framework under the new tax law to punish tax dodgers. Daily-compounded interest on unpaid interest begins Jan 1, with penalties rising for late filings and substantial understatements. New civil and criminal penalties target abusive shelters and promoters, with fines up to 10 percent of understatements and $1,000 for promoters. Frivolous returns face a $500 fine, and enforcement expands to seek court injunctions against schemes.
MENTIONED IN THIS ARTICLE
Newhouse
Washington
Internal Revenue Service
IRS
U.S. Supreme Court
U.S
Tax Court
Ten apply for director of finance in Odessa
Odessa seeks a new city finance director with a $40 000 annual salary. Ten applications, including three from Odessans, have been received with review set for next Wednesday. The position opened after Norris Hinds retirement with Acting Finance Director Jack Edwards currently in place. Notable candidates include Neil F Michaelson who has held multiple city management roles in Alabama Mississippi and Rhode Island plus degrees in public administration finance and political science. Frank Muser of Warren Michigan also appears on the list with a background at Chrysler and Warren budget work.
MENTIONED IN THIS ARTICLE
Michigan
Cleveland
Texas
Alabama
Odessa
John Harrison
Odessans
Norris Hinds
Jack Edwards
Neil F. Michaelson
Jefferson County
Department of Health
Michaelson
Phenix City
Ala
Pascagoula, Miss
Coventry
R.I
South Miami
Fla
Shaw University
Raleigh, N.C
Goddard College
Plainfield, VI
University of Southern Mississippi
Hattiesburg
Miss
Clayton University
St. Louis
Frank Muser
Warren
Mich
Chrysler Corporation
Col
Nuclear power may not be cheapest electricity says Energy Dept study
An Energy Department analysis shows coal and nuclear electricity costs are nearly tied through 1995 with a potential nuclear cost edge only in New England and the Southeast. No US nuclear plant orders since 1978 and 91 plant cancellations suggest dimmer prospects for new reactors.
MENTIONED IN THIS ARTICLE
Newhouse
Washington
Energy Department
United States
Three Mile Island
New England
Employment tax passes House in Texas bailout vote
The Texas House approved a bill by 106 to 30 to bail out the unemployment fund after a heated debate over borrowing from federal loans. A last minute amendment to borrow 265 million from the general revenue fund failed 68 to 68. The measure, sent to the Senate, aims to replenish a 44 year old fund with 1983 84 tax increases and a surtax to cover interest on federal loans.
MENTIONED IN THIS ARTICLE
Schlueter
Feds
Bill Presnal
D-Bryan
Washington
Bill Clayton
House
Also Mentioned on This Page
Clara Jones
Melanie Oates
Melanie
13Th St
Lisa Capri
W. 14Th St
Angela Mahan
Pompon
Clayton
Criss
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