Domestic Taxes

IRS's many safeguards weren't so helpful in tax-exempt case.

Wall Street's helping Congress write financial regulation bills.

Fed trips over its own message on bond buying.

Big business versus Main Street on tax reform.

Red state/blue state divide on taxes deepens.

China to rely more on the market. 

Oversight Dems say they want Lerner to testify, but that her Fifth Amendment rights are clear.

Congressional Republicans fear that step could limit their own investigation into the agency.

A bipartisan group of lawmakers from states hit hard by Hurricane Sandy last fall are urging support for a bill that would provide tax relief for those affected.

The group of nine lawmakers argue that the measure would complement billions in federal aid and provide additional assistance to families and businesses struggling to rebuild in the wake of the storm.


"While the Sandy aid we fought so hard for is finally getting to the communities that desperately need it, we know it's not going to be enough to help families and businesses fully recover," said Rep. Bill Pascrell (D-N.J.), a member of the House Ways and Means Committee. 

"This legislation will go a long way toward filling this gap by providing immediate tax relief to those impacted by Sandy's devastation."

Read more...

Lerner will still be paid while on leave, a congressional aide said, as required under civil service rules.

Sens. John McCain and Carl Levin said allowing the IRS official to remain would "erode public trust" in the agency. 

House Oversight Chairman Darrell Issa is poised to bring IRS official Lois Lerner back before his committee.

White House staff made concerted effort to shield Obama on IRS matter. Read more...

“It’s pretty inconceivable to me that the president wouldn’t know,” Boehner told Fox News’s Greta Van Susteren.

Rep. Issa said he's looking into recalling the IRS official who pleaded the Fifth on Wednesday.