A simple rule meant to cut paperwork for U.S. companies has grown into one of the biggest multinational tax breaks around, costing the United States and other governments billions of dollars in lost taxes each year. It thrives thanks to determined business support, including a campaign two years ago that forced the Obama administration to retreat from altering it and tax professionals worldwide who exploit its benefits.
By SHARONA COUNTS/ProPublica After being laid off from her job as a high school teacher in Dayton, Ohio, Nicole Massey decided to go back to college. For months, she scoured the Web for ways to fund her tuition, while supporting her 10-year-old son, Tyler. So when ads turned up in Massey’s inbox claiming that President […]
Open government advocates got an early holiday gift from the White House today. The Office of Management and Budget released the detailed directive to federal agencies on transparency that President Barack Obama called for on his second day in office. The 11-page directive sets out specific tasks for agencies and gives them deadlines.