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Faced with mounting ire over a scandal in which the IRS targeted conservative groups, ousted acting commissioner Steven Miller apologized for 'foolish mistakes' the agency made.
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The New York attorney general's office said it was investigating allegations that fast-food operators in the state are underpaying workers in violation of labor laws.
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Republicans in control of the House Education and the Workforce Committee voted on Thursday to advance legislation tying student loan interest rates to the financial markets.
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President Obama Thursday appointed Daniel Werfel as acting commissioner of the Internal Revenue Service, effective May 22.
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President Obama promised Thursday to fix problems at the IRS as his administration faces a burgeoning scandal over the agency's targeting of conservative groups in nonprofit applications.
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A Senate committee voted along party lines to the president's controversial nominee to a full confirmation vote.
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President Barack Obama said Wednesday acting IRS Commissioner Steven Miller resigned amid mounting pressure over the agency's targeting of conservative groups.
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The Treasury Department announced the first of a potential series of emergency cash measures to allow the government to pay its bills when a temporary debt ceiling suspension lapses this weekend.
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A second U.S. House of Representatives committee announced on Wednesday it will hold a hearing on the Internal Revenue Service's targeting of conservative groups for extra tax scrutiny.
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The speaker of the House raised the possibility of jail time for law violations in the growing scandal involving the IRS.
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Tobacco industry whistleblower Jeffrey Wigand says he knows all too well the pressures to stay quiet when something bad is going on all around you. He sheds light on what might have been going on...
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The IRS’s targeting of tax-exempt applications from conservative social welfare groups is worse than initially believed, a new report shows.
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A temporary suspension of the U.S. debt ceiling expires on May 19, but the Treasury Department should be able to borrow for several more months by employing unusual cash management tools.
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Emac's Bottom Line: The IRS is not some mindless, acultural thing. It’s populated by human beings prone to political pressures. Here's a look at its history and what to expect from the...
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The Obama Administration declined to comment on whether Bloomberg News reporters may have snooped on White House officials who use the financial terminals and services.
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Developing: The AP said the U.S. government secretly mined two months’ worth of phone records in what the wire service called a “serious interference” of its constitutional rights.
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Federal Reserve Chairman Ben Bernanke will deliver testimony on May 22 on the outlook for the U.S. economy before the Joint Economic Committee of Congress.
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The IRS has found itself in a deepening scandal over targeting certain nonprofit profit groups, including Tea Party supporters. Here's what every taxpayer should know.
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Over two years, IRS field office agents repeatedly changed their criteria while sifting through thousands of applications from groups seeking tax-exempt status to select ones for possible closer...
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Republican lawmakers blasted the agency after a top official apologized for 'inappropriate' targeting of applications for tax-exempt status from conservative political groups.
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The U.S. federal budget surplus widened in the month of April, while the fiscal 2013 deficit shrunk, as the government took in higher revenues.
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Snail Mail Woes: The U.S. Postal Service said it lost $1.9 billion last quarter, underscoring the institution's dire financial state.
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A Senate committee launched a weeks-long effort to pass a comprehensive immigration bill with a warning from the panel's top Republican that he would make the process as long and 'arduous' as...
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A group of 12 senators are brething new life into efforts to reduce the scope of the Dodd-Frank overhaul of Wall Street as they seek an exemption for non-financial companies.
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The Senate passed the Marketplace Fairness Act Monday, giving states power to collect online sales tax from retailers outside their borders.
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NY AG Eric Schneiderman will announce a new suit against Bank of America and Wells Fargo for allegedly violating mortgage modification rules set in a 2012 pact.
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The group pushing to do something about runaway deficit spending, is loaded with highly compensated CEOs who know more about prosperity than austerity.
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The president tapped Mike Froman and Penny Pritzker for the last two vacant Cabinet slots on his economic team.
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Securities regulators unanimously agreed to propose new rules for the over-the-counter derivatives business of foreign banks.
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Press Secretary Jay Carney suggested Congress acted to stop FAA furloughs as a favor to 'bellyaching' business travelers.
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A plan proposed by former Chairman of the White House Council of Economic Advisors, Edward Lazear, actually involves paying for U.S. citizenship.
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Defense Secretary Chuck Hagel said the U.S. intelligence community believes the Syrian government has used sarin gas on a small scale against rebels.
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Sen.Max Baucus hopes to soon introduce a bipartisan bill to give the White House enhanced authority to negotiate trade agreements and win their approval in Congress.
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Newly designed $100 bills that aim to thwart counterfeiters with advanced security features will hit the market in October, but still bear the portrait of Benjamin Franklin.
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The chairman of the powerful Senate Finance Committee will not seek re-election to a seventh term next year.
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Finance leaders of the G20 economies Friday edged away from a drive toward government austerity in rich nations, rejecting hard targets for reducing national debt in a sign of worry over a...
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Rep. Bill Cassidy of Louisiana has launched an effort to eliminate another area of potential government waste: oil paintings.
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Gold entered technical bear-market territory after Friday's drop, and its 9.12% plunge intraday Monday is the biggest one-day drop for the precious metal in 33 years, since March 28, 1980, when it...
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Washington was gripped by budget battles in 2012, and new documents show it wasn't the best financial year for the first family, either.
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Exclusive: Despite skepticism Washington can overhaul the tax code, one top GOP lawmaker is pushing forward to write a new federal tax system.
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The U.S. budget deficit narrowed in March compared to the same month last year, as the government got more money from payroll and income taxes and had to spend less on its financial rescue fund.
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The White House budget aims to find middle ground between the dueling parties, but, at the same time, both sides will find points of contention.
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Why is the government ignoring a cost-free way to sign up the estimated 18 million low-income uninsured for health coverage under the health-reform law?
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The U.S. sued a New York mortgage company it said defrauded the federal government into insuring poor quality home loans, costing taxpayers millions of dollars.
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The SEC released a report to clarify that companies can make announcements using social media websites like Facebook and Twitter, as long as investors are notified.
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A new report now says fracking could create anywhere from half a million new jobs in California by 2015, even 2.5 million jobs by 2020, plus a bundle in the way of state tax revenue.
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The immigration debate has historically tended to focus on the costs and burdens to the economy. But new data have shifted that debate to the potential benefits.
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Many factors go into where you should locate your business, from local demand, to regional supply chains. But an issue that is especially important is the state's tax code.
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