News

The Internal Revenue Service audited 57,211 U.S. businesses in fiscal 2014, just 0.57% of the total. That rate, an eight-year low, represented a decrease from 0.61% during 2013. IRS Commissioner John Koskinen attributed the decline to the agency’s smaller budget.

The U.S. economy expanded at an annual rate of 2.2% for the fourth quarter, according to revised estimates by the Department of Commerce. Growth was previously estimated at 2.6%. Data about business stockpiles and the trade deficit contributed to the […]

Initial jobless claims last week rose 31,000, to 313,000, the Labor Department said. It was the biggest increase since December 2013.

With the U.S. job market still gaining strength and inflation low, the Federal Reserve is not yet ready to raise interest rates from near-zero levels, Fed Chair Janet Yellen told the Senate banking committee as she delivered the Fed’s semiannual […]

In a 98-2 vote, the Senate swept away procedural obstacles that could prevent a swift final vote on funding for the Department of Homeland Security, which will run out of money Friday. Senate Democrats said they will vote for a […]

If Congress allows funding authority for the Department of Homeland Security to expire Friday, the U.S. economy and national security will be directly affected, President Barack Obama says. Essential personnel would still report to work, but more than 100,000 agents […]

If Congress allows funding authority for the Department of Homeland Security to expire Friday, the U.S. economy and national security will be directly affected, President Barack Obama says. Essential personnel would still report to work, but more than 100,000 agents […]

The Labor Department is expected to submit a proposal that would strengthen standards for brokers who recommend retirement investments. The rule will be submitted to the Office of Management and Budget, and will be available for public comment after it […]

The IRS recently finalized mandatory regulations to distinguish capital expenditures from supplies, repairs, maintenance, and other deductible expenses – commonly known as the Repair Regulations.