IRS boosts whistleblower rewards on tax cheats
The IRS proposes new rules to broaden eligibility for whistleblower rewards aimed at big tax cheats. The changes allow payments when tips prevent illegitimate refunds or reduce tax credits, expanding beyond tips that yield additional taxes due. Senator Grassley says the move should improve program participation.
MENTIONED IN THIS ARTICLE
Washington
Internal Revenue Service
IRS
Frank Keith
Chuck Grassley
Iowa
Grassley
Tax Collecting Agency
FTC to Review Riddell Helmet Claims
FTC Chairman Jon Leibowitz said the agency will examine marketing claims that certain football helmets reduce concussions. He noted the concerns raised by Senator Tom Udall and pledged to determine appropriate enforcement actions based on truthfulness and substantiation of injury-risk claims.
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Washington
Federal Trade Commission
FTC
Jon Leibowitz
Tom Udall
DN M
Associated Press
Leibowitz
Udall
Record high holiday spending hides inflation and population push
Holiday spending totaled 462 billion, surpassing 2007’s peak, but price rises and population growth skew the figure. Inflation-adjusted spending would need reach 478 billion to match pre recession levels, with per person purchases actually lower than years ago. NRF notes November strong, December softer, amid an improving consumer mood.
MENTIONED IN THIS ARTICLE
National Retail Federation
U.S
Chris Christopher
IHS Global Insight
NRF
Time Warner Cable may blackout Sinclair stations in New York
Time Warner subscribers face potential loss of Fox CBS and ABC affiliates after an extended contract talks with Sinclair Broadcast Group. If blocked, Time Warner will replace signals with feeds from nearby stations while preserving NBC carriage. The move could limit local news coverage but keep network programs like Glee and Desperate Housewives on air.
MENTIONED IN THIS ARTICLE
Time Warner
Sinclair Broadcast Group Inc
Sinclair
Fox
CBS
ABC
NBC
JPMorgan Chase Posts 47 Percent Q4 Income Rise
JPMorgan Chase & Co. reports a 47 percent increase in income for the final quarter of 2010 as fewer borrowers defaulted. The bank plans to raise its dividend pending Federal Reserve approval amid the Fed's comprehensive health review of major banks.
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New York
Jpmorgan Chase & Co
Federal Reserve
Fed
U.S
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