Business - Taxes and Tax Season

INDIANAPOLIS - State tax collections were once again significantly below projections in November, prompting Gov. Mitch Daniels to announce more budget reductions, including $150 million in cuts to Indiana's public colleges and universities. Full Story »

Michael Sohn, a longtime aide to former Rep. Chris Shays (R-Conn.), has been indicted on embezzlement and tax evasion charges. Sohn, who is accused of embezzling campaign money, is scheduled to be arraigned Friday. Full Story »

OLYMPIA, Wash. - Washington Gov. Chris Gregoire will definitely propose a tax package to avoid the deepest cuts in state spending needed to fill a $2.6 billion state budget deficit. The only remaining questions: Whom to tax, and how much to raise. Full Story »

PIERRE, S.D. - The Internal Revenue Service on Thursday auctioned off a large swath of land owned by an impoverished Indian tribe to help pay off more than $3 million in back taxes, penalties and interest — a sale the tribe says is illegal under federal laws protecting Indian land. Full Story »

ALLENTOWN, Pennsylvania (Reuters) - President Barack Obama on Friday prodded large U.S. banks to boost lending to Main Street and cautiously welcomed news of an unexpected drop in the unemployment rate. Full Story »

ALBANY, N.Y. - New York's new public worker pension plan is being described as both landmark reform that will save taxpayers billions of dollars and the latest gift to powerful state employee unions. Full Story »

WASHINGTON (Reuters) - The U.S. Justice Department asked a court on Wednesday for permission to seek the names of American clients of Texas financier Allen Stanford who may be hiding assets abroad to evade taxes. Full Story »

CINCINNATI - The Kroger Co. said Wednesday it has paid federal taxes that it initially avoided through what turned out to be fraudulent tax shelter. Full Story »

DALLAS - The Internal Revenue Service wants the names of U.S. taxpayers who have foreign accounts with companies owned by indicted billionaire R. Allen Stanford, according to court papers filed Wednesday. Full Story »

Nearly a decade ago, Washington turned to tax cuts as the solution to unemployment in the economic recession following the September 11th attacks. But at President Obama's jobs summit this Thursday, he will be getting advice to go down a different route--direct federal spending through public works programs to create jobs. ... Full Story »

CHARLOTTESVILLE, Va. - Some tax breaks are likely to be shaved along with state spending for services and programs in an austere budget to be presented to legislators later this month, Virginia Gov. Timothy M. Kaine said Tuesday. Full Story »

WASHINGTON - Next year had been shaping up as a great year to get a big inheritance — no federal taxes on it. Congress, however, has other plans for the few wealthy heirs expecting a big boon. Uncle Sam may take a 45 percent cut after all. Full Story »

NEW YORK - The number of homebuyers who signed contracts to buy previously occupied homes rose for the ninth straight month as buyers rushed to take advantage of a tax credit for first-time owners before its original expiration at the end of November. Full Story »

SALEM, Ore. - Bill Sizemore, Oregon's high-profile anti-tax activist and Republican candidate for governor, has been indicted on tax evasion charges that could send him to prison if convicted. Full Story »

COLUMBUS, Ohio - It is not a registered nonprofit, though it bears a nonprofit's Web identity. It has no board of directors, no campaign finance filing history, and no paperwork on file with the IRS or the Federal Elections Commission. Full Story »

CHICAGO - The Internal Revenue Service is looking for nearly 3,600 Illinoisans — but not for the reasons they probably think. Full Story »

KITTERY, Maine - It takes Sgt. Charles Denault barely two minutes to spot a dozen cars with out-of-state license plates parked in driveways and outside houses and apartments. Full Story »

NEW YORK (Reuters) - Sales of new U.S. single-family houses likely climbed in October, but forecasts varied widely on the impact of the first-time homebuyer tax credit, a Reuters survey found. Full Story »