Business - Taxes and Tax Season

WASHINGTON (Reuters) - The U.S. government's $700 billion bailout program will ultimately produce an overall loss for taxpayers, a key auditor for the program said on Thursday. Full Story »

ELMWOOD PARK, N.J. - Emdeon Corp., which provides financial and clinical services to the health care industry, said Tuesday its third-quarter loss widened on higher expenses and a boost in income tax costs. Full Story »

LINCOLN, Neb. - Nebraska tax revenue in October rebounded after a dismal September that prompted a special legislative session to cut the state budget, but collections still fell below official projections. Full Story »

NEW YORK - FedEx says the IRS will not impose tax penalties for 2004 through 2006 in the package delivery company's long-running battle over the classification of its FedEx Ground drivers as contractors instead of employees. Full Story »

CHICAGO - A former General Motors manager has pleaded guilty to wire fraud and tax evasion, admitting he took $6.5 million in kickbacks in the sale of hundreds of millions of pounds of aluminum worth an estimated $1 billion. Full Story »

COLUMBUS, Ohio - After Richard Handy of Fairfield received an e-mail from a conservative group calling Gov. Ted Strickland's proposed delay of Ohio's income tax cuts a "retroactive tax increase," Handy fired off a few passionate words to some state senators. Full Story »

With rare bipartisan enthusiasm, the House on Thursday was preparing to clear legislation that will extend unemployment benefits for jobless Americans across the nation, continue a popular tax credit for homebuyers and offer tax relief to money-losing businesses. Full Story »

Legislation to extend unemployment benefits and expand a popular tax credit for homebuyers overcame the last in a string of Senate procedural hurdles Wednesday, but it may have to wait one more day to cross the finish line. Full Story »

The extension and expansion of a tax credit for first-time homebuyers has been incorporated into Senate legislation that would extend unemployment benefits. Full Story »

With blessings from the Obama administration, the Senate now appears likely to pass a bipartisan compromise extending and expanding a tax credit for homebuyers. Full Story »

Senators are nearing a bipartisan deal to extend a homebuyer tax credit and provide more tax assistance to money-losing businesses. Full Story »

Top Senate and House tax writers introduced legislation Tuesday to crack down on international tax evasion, a move they said would boost tax collections by an estimated $8.5 billion over 10 years. Full Story »

As Congress considers extending and expanding a tax credit for first-time homebuyers, government auditors raised significant questions Thursday about the administration of the tax break, warning that thousands of ineligible recipients are claiming the credit. Full Story »

Housing and Urban Development Secretary Shaun Donovan equivocated Tuesday on whether Congress should extend an expiring tax credit for first-time homebuyers. Full Story »

Legislation to extend unemployment benefits has become entangled with a bipartisan effort to extend a popular tax break for first-time homebuyers. Full Story »

Minority Whip Eric Cantor said Wednesday that House Republican leaders oppose a job creation tax credit, one of the ideas being considered by congressional Democrats and the Obama administration to combat unemployment of almost 10 percent. Full Story »

Legislation that would extend the first-time homebuyers' tax credit by one year for military and key civilian personnel deployed abroad this year sailed through the House on Thursday. Full Story »