Analysts widely expect interest rates to be maintained near zero as Federal Reserve policymakers meet today, and they anticipate a renewed pledge to keep rates low for an extended period. However, officials could signal that the economic picture is brightening and that the central bank is moving closer to forgoing the pledge.
The agricultural chemical security credit has been available since 2008, but remains unknown to many taxpayers. The credit is worth up to $2 million per year and covers a wide variety of expenditures; any taxpayer dealing with fertilizers or pesticides should consider whether they are eligible to claim the credit.
Financial revamp legislation unveiled by Sen. Christopher Dodd, D-Conn., includes a new consumer protection watchdog. Called the Bureau of Consumer Financial Protection, the new watchdog would fill what Dodd says are gaps left by the current system.
The House of Representatives approved a measure that would allow individuals who make charitable contributions to Chile earthquake victims to claim the donations on their 2009 tax returns. The bipartisan bill requires that donations be made prior to April 15. A similar bill was passed following the earthquake in Haiti earlier this year.
Matthew Lee was fired from Lehman Brothers in 2008 just weeks after he raised concerns about an accounting strategy that hid risks Lehman was taking. Lee is now a central figure in the scrutiny of what went wrong at Lehman, which collapsed in September 2008. Lehman, at the time that Lee was let go, said the cut was a result of downsizing, sources say.