News

U.S. tax chief warns of glitches if AMT fix delayed

WASHINGTON (Reuters) – The U.S. tax chief told lawmakers on Wednesday the Internal Revenue Service needs clarity on the fate of the alternative minimum tax, which could ensnare 21 million unintended taxpayers if a law is not amended before year-end. Read more

Deficit panel recalibrates, seeks more support

WASHINGTON (Reuters) – A presidential panel on balancing the U.S. budget on Wednesday revised its fiscal austerity plan with deeper spending cuts and a more flexible tax code overhaul, hoping to draw broader political support. Read more

Berlusconi in focus on Clinton’s WikiLeaks tour

ASTANA (Reuters) – Secretary of State Hillary Clinton has done a lot of explaining to foreign leaders after the embarrassing Wikileaks release of U.S. embassy cables — but few needed as much placating as Italy’s Silvio Berlusconi. Read more

U.S. says sanctions cost Iran investment, banking access

WASHINGTON (Reuters) – Iran is finding it increasingly difficult to access the financial services it needs to run its economy and may lose up to $60 billion in energy investments due to global sanctions, U.S. officials said on Wednesday. Read more