We Should Import More from Sweden Than Just Furniture

Swedes' public finance policies could do wonders for your home, life Via TaxProf Blog, we read a commentary in TaxAnalysts by tax guru David Cay Johnston pointing out a few facts the revenue haters would prefer be kept under wraps.

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Congress Getting Around to Taxes?

The House and Senate are working each working a number of pieces of tax legislation. Below is a brief summary of which bills might contain which provisions in each house. This is all subject to change by the hour, but hopefully it'll disambiguate what's up for consideration. House Action:

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Dept. of Interior: Worst Misconduct Ever!

There has been some pretty eye opening stuff going on over at the Department of the Interior's Mineral Management Service (MMS). The Department of the Interior Inspector General released the results of three separate investigations into allegations of misconduct among dozens of employees and managers at the MMS. And the pretty shocking results would even make Lurita Doan blush (or maybe take out her pen and pad and take notes?). The IG report described the MMS as having a "culture of ethical failure" and details some ridiculously arrogant and decrepit behavior.

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Shocking Developments at the IRS

I came across more good news from the IRS today (well, Friday actually) and I'm not really sure what to do with myself. BNA reported late on Friday afternoon that Lisa McCaughey, a senior tax analyst with the Small Business/Self-Employed Division reported that the IRS is reducing the staggering number of audits they conduct each year of taxpayers who claim the earned income tax credit (EITC). Woohoo!

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IRS Decides to Abandon Contract

Great news reported today by Joe Davidson at the Washington Post (Joe has taken over the Federal Diary column from Stephen Barr, who retired earlier this year). Davidson reports that the Internal Revenue Service (IRS) has decided to discontinue contracting out the management of tax return files at seven regional IRS centers. More details from the Federal Diary column: For most of the past two years, that work has been done by IAP Worldwide Services.

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Why Pay Full Price

There have been lots of stories today I was thinking about throwing up on the blog (DCAA shenangians, Interior Department MMS shenangians), but I "http://online.wsj.com/article/SB122109613823821913.html">settled on an article you might have overlooked in the Wall Street Journal about the continuing investigations Sen. Carl Levin (D-MI) and the Senate Permanent Subcommittee on Investigations (PSI) have been conducting on offshore tax evasion. I've posted a few times (see href="/article/blogs/entry/5326/49" target="_blank">here and here too) over the last few

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Baucus and Grassley Unveil $40 Billion Energy Tax Plan

Bill to promote alternative fuels would be offset by ending some tax breaks for oil and gas industry From CQ Politics:

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The Declining Return on Education

Via Shaw Fremstad at Inclusionist, we read in the Wall Street Journal that even the highly educated have seen their real earnings decrease since 2000. The inflation-adjusted median salary for people with professional degrees [such as doctors and lawyers] was $89,602 in 2007, up about 3% from 2000, when the median salary was $87,158, according to the Census.

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Approps Update: Senate Panel Advances Defense Bill

Yesterday (Wed.), the Senate Appropriations Defense Subcommittee approved the $487.7 billion FY 2009 Defense Appropriations bill. The defense spending bill is passed every year, despite Congress's chronic inability to approve the other 11 individual annual spending bills, so it's no surprise to see this one advance. With less than three weeks remaining in the fiscal year, here's how close Congress is to passing the legislation necessary to keep the federal government operating past Sept. 30.

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Defense Department Punts on Air Force Tanker Deal

I came across another delay in a federal contracting effort to report today. Seems the Department of Defense, and more specifically Secretary Robert Gates, feels it will not have sufficient time to complete the re-competition for the contract to build the next generation of mid-air refueling tankers. Gates announced this morning during testimony before the House Armed Services Committee that DoD has decided to cancel the competition and leave the issue for the incoming administration to figure out.

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