Rep. Steve Stockman (R-Texas) has proposed bill to ensure that virtual currencies are treated as currency for tax purposes, which would reverse the IRS ruling that Bitcoin will be taxed, retroactively, as property.
Speaking at the conference for community organizers and developers hosted by the Chicago Federal Reserve on March 31, Federal Reserve Fed Chair Janet Yellen said that the U.S. economy will need Fed stimulus for “some time.”
Tesla Motors' business model of selling its electric vehicles directly to consumers is being opposed by auto dealerships.
The recently released transcripts of 14 Fed meetings of 2008 show Fed officials were clueless and unaware of the imminent recession.
An employment service learned that unemployment would increase if the minimum wage is hiked by asking those who would be directly affected by an increase in the minimum wage.
A crucial component of the widely criticized new addition to the U.S. tax regime known as FATCA, passed by Democrats and signed by Obama in 2010 as part of a “jobs” bill, could result in massive capital flight from American banks and economic devastation if efforts to stop it are unsuccessful, experts and policymakers are warning. With the U.S. economy still teetering, some analysts are even suggesting that allegedly unlawful IRS mandates purporting to force American financial institutions to report foreign account holders to their governments could be the straw that breaks the proverbial camel’s back.
Vallejo, California, is on the verge of its second bankruptcy, primarily because of its unwillingness to negotiate its pension plans' terms.