IRS workers miss tax law compliance in two year span
Washington reports that about 133 IRS workers failed to comply with tax laws over a two year period but went undetected by the agency. Fourty four percent filed late returns yet owed no taxes, while over half of cases reviewed and closed showed no merit for further action. The AP notes the IRS identifies noncompliant employees annually, averaging nearly 8,800 from 2004 to 2008.
MENTIONED IN THIS ARTICLE
Washington
Internal Revenue Service
U.S
IRS
Michelle Eldridge
Grain futures edge higher on Chicago Board of Trade
Grain futures rose 8.25 cents to 3.50 a bushel while soybeans and corn futures posted gains. July soybeans advanced to 14.25 cents and corn rose 16.75 cents to 13.50. Wheat for July delivery held steady as trading paused.
MENTIONED IN THIS ARTICLE
Chicago
Board of Trade
Associated Press
Closing Stocks Rally Amid Mixed NY Market News
New York stocks showed broad activity with Pfizer, Gap, and various S&P components among listed equities. Trading highlighted shifts in large cap names including ExxonMobil, Wells Fargo, Coca Cola, and Bank of America as investors weighed gains and declines across sectors.
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Keycorp
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Discover
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Walgrn
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PNC
Weathfind
ExxonMbl
Patriot Coal
Wells Fargo
Fordm
Peabdge
WmsCos
Petrohawk
L65
Xerox
FrontierCm
Petrobras
Youkun
JPMorgan Settles Civil Fraud over Mortgage Investments
JPMorgan Chase has agreed to pay 153.6 million to settle SEC charges that it misled investors in a complex mortgage portfolio during the 2008 housing crisis. The SEC says a hedge fund helped select the assets and bet the portfolio would fail, harming investors including GM autoworkers and a Minneapolis Lutheran organization. Investors will be repaid in full, and JPMorgan will enhance review processes.
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Washington
Jpmorgan Chase & Co
J.P. Morgan Securities
Wall Street Bank
Securities and Exchange Commission
General Motors
Lutheran Financial
Minneapolis
Topeka
Kaw
Wall Street
Goldman Sachs & Co
Jpmorgan
SEC
Edward Steffelin
Steffelin
GSCP
Magnetar Capital
Magnetar
Alex Lipman
Jamie Dimon
Federal Reserve
Ben Bernanke
Robert Khuzami
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Microsoft
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