Today’s Federal Register is here.
This article by Michael Ellis for Reuters discusses how the company with the “largest pension deficit among U.S. companies” is meeting its pension funding obligations: “GM to Fund Pension with $13 Billion Debt.”
“[A]ttorneys and accountants should be pillars of our system of voluntary compliance, not the architects of its circumvention.” This is what IRS Commissioner Mark W. Everson is reported to have said in this article by David Cay Johnston for the New York Times: “IRS Seeks Names of Wealthy Clients Who Used Tax Shelters.” According to the article, the IRS is ordering one of the nation’s biggest law firms, Jenkens & Gilchrist, to disclose the names of 600 wealthy clients who bought tax shelters that it considers abusive. The law firm has said it would not comply. The IRS won approval yesterday from a federal judge in Chicago to issue its summons to Jenkens & Gilchrist, which is based in Dallas. The article reports that the “government has not used this particular type of summons before.”
This article by Ben White from the Washington Post: “Excellent Year for Executives–CEO Compensation Rose Nearly 17%.”