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Democrats Call For Tax-Exempt Controls

As they joined Republicans on Tuesday in bashing the Internal Revenue Service for targeting conservative groups that sought tax-exempt status, Senate Democrats had another target: the regulations that require the U.S. tax agency to weigh the political activity of such groups.Beyond the question of what led still-unidentified IRS agents to use what an audit called "inappropriate" criteria in reviewing conservative groups, the rise of tax-exempt groups in American politics is at the core of the scandal.At issue is how people on both sides of the nation's political divide have formed hundreds of nonprofit, tax-exempt groups under Section 501(c)(4) of the IRS Code. U.S. law does not require them to disclose their donors and says they must operate "exclusively for the promotion of social welfare."Under Treasury regulations used for decades, however, the law has been defined to mean that such groups must "primarily" be concerned with social welfare causes, such as "bringing about civic bette...

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  1. Top Senator Aims for Bipartisan Trade Promotion Bill

    Senate Finance Committee Chairman Max Baucus on Wednesday said he hoped to soon introduce a bipartisan bill to give the White House enhanced authority to negotiate t...

  2. Top Democrat Baucus to Retire

    U.S. Democratic Senator Max Baucus of Montana, chairman of the powerful Senate Finance Committee, will not seek re-election to a seventh term next year, a Democratic...

  3. Can D.C. Really Reform the Tax Code?

    Despite skepticism Washington can overhaul the tax code, House Ways and Means Committee Chairman Dave Camp (R-MI) optimistically continues his push to write a new fe...

  4. Health Insurer Stocks Jump After Win on Medicare Rates

    U.S. Health insurers received the Medicare Advantage rate changes they were seeking, thanks in part to a strong lobbying campaign by the industry and an assist from ...

  5. Regulators Improve Rates for Medicare Advantage

    Health insurers stand to get significantly more money for running Medicare Advantage plans next year than they expected, according to new government rates announced ...

  6. Senate Narrowly Passes First Budget in Four Years

    The U.S. Senate on Saturday narrowly passed its first federal budget in four years, a move that will usher in a relative lull in Washington's fiscal wars until an an...

  7. Health Insurers Lobby to Guard Medicare Advantage Payments

    Health insurers are pushing hard to try to prevent billions of dollars in proposed government cuts to Medicare Advantage plans next year, arguing the reductions will...

  8. Senate Panel to Vote Tuesday on Lew for Treasury Secretary

    The Senate Finance Committee will vote Tuesday on Jack Lew's nomination for Treasury secretary, according to Sen. Max Baucus, the Montana Democrat who chairs the pan...

  9. The Economic Benefits of Tax Reform

    Sen. Rob Portman, (R-Ohio), on the benefits of reforming the U.S. tax code.

  10. Sen. Portman: Time May Be Right For Tax Reform

    Sen. Rob Portman, (R-Ohio), explains why now is the right time to reform the tax code.

  11. Lew Didn't Make Investment Decisions at Citi

    Treasury nominee Jacob Lew Wednesday said he wasn't responsible for investment decisions when he worked at Citigroup Inc. (C), though he was aware that some funds we...

  12. Lew Urges Senate To Avoid Spending Cuts

    Jacob Lew, the White House's nominee for Treasury secretary, on Wednesday will urge Senate lawmakers to avoid $85 billion in automatic spending cuts as members of bo...

  1. Senate Pries More Details Over IRS Officials Over Scandal

    A U.S. Senate panel will try on Tuesday to pry more details out of current and former officials of the Internal Revenue Service about the agency's targeting of conse...

  2. IRS Scandal: Focus Shifts to White House

    Two senior aides to President Barack Obama knew weeks ago about a watchdog report on the U.S. Internal Revenue Service targeting of conservative groups, a spokesman ...

  3. A Tax Strategy for all Seasons

    Just when you may have thought that federal tax policy was set - that January's "fiscal cliff" deal meant you could go about your financial life with multi-year cert...

  4. Senate Confirms Tavenner as Head of Medicare-Medicaid Agency

    The Senate voted Wednesday to give the main agency charged with implementing the 2010 health care law its first confirmed leader in seven years.Marilyn Tavenner, a n...

  5. What to Expect at the IRS Hearings

    The "social welfare" mission for tax-exempt nonprofit groups certainly covers issues about government spending, government debt, federal taxes, "how the government i...

  6. U.S. Experts Back Singapore Suicide Findings

    Two U.S.-based medical examiners agreed with a Singaporean pathologist's findings that an American engineer died by hanging in what appeared to be a suicide in the c...

  7. White House: Any Tax Deal Tied To Budget Talks

    Any tax-reform deal should be part of a broader deal to put the deficit on a sustainable path, White House spokesman Jay Carney said Wednesday. "We believe tax refor...

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