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Taxes – we pilfer from them but we won’t pay them & other news

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Meanwhile, the owners and officers of some contractors that weren’t paying federal taxes had significant personal assets, including a sports team, a high-performance airplane, commercial properties, multimillion-dollar homes and luxury vehicles, the GAO said in its 2007 report. ~ Tom Shean – Virginian-Pilot~

History Facts for May 22

  • 1455 – King Henry VI was taken prisoner by the Yorkists at the Battle of St. Albans, during the War of the Roses.
  • 1900 – The Associated Press was incorporated as a non-profit news cooperative in New York.
  • 1977 – Janet Guthrie set the fastest time of the second weekend of qualifying, becoming the first woman to earn a starting spot in the Indianapolis 500 since its inception in 1911.
  • 1995 – Mr. and Ms Sparky were married
  • illustration by Jacob Thomas (Bloomberg)

    Tax requirement delayed, to the relief of companies
    Tom Shean – (The Virginian-Pilot) – May 22, 2011 – Companies doing business with the federal government have a bit more breathing room from what some say is an onerous tax provision.

    Earlier this month, the IRS delayed for another year a government plan for holding back 3 percent of the amounts paid to federal contractors.

    The program, designed to cover contractors’ tax liabilities, originally was scheduled to take effect at the beginning of 2011. The date was pushed back two years ago to 2012. Now it’s Jan. 1, 2013.

    Still, “it will be a cash-flow nightmare” for smaller defense contractors, especially those with modest profit margins, predicted Gregg N. Funkhouser, partner in charge of government contracting for the CPA firm Dixon Hughes Goodman.

    While the average profit margin for his defense-contractor clients is 7 percent, the margins for some are as low as 1 percent, and these companies likely will suffer, Funkhouser said during a presentation in Norfolk last week. (Click HERE for article)

    FDA Approves Q Fever Test for Military Personnel
    Deborah Mitchell – (Emax Health) – May 22,  2011 – Overseas military personnel now have a test to diagnose the early stages of Q fever, an emerging infectious disease among US soldiers serving in Iraq and other locations worldwide. The Food and Drug Administration (FDA) cleared the test to be used on the Defense Department’s Joint Biological Agency Identification and Diagnostic System (JBAIDS).

    Q fever is also known as goat fever
    Q fever is a zoonotic disease, which means it can be passed from animals to people. Other types of zoonotic diseases include rabies, West Nile virus, and Lyme disease.

    Q fever, also known as goat fever, is caused by bacteria called Coxiella burnetii, which is carried by goats, cattle, and sheep and deposited into the soil through feces. People can get Q fever when they inhale dust that has been contaminated. The mortality rate is 1 to 2 percent. (Click HERE for article)

    Spurned Engineer Sues for False Claims
    LANA MORELLI – (CN) – May 20, 2011 – A defense contractor lied in the process of securing federal contracts, one of its former engineers claims in Middlesex County Court.

    Patanjali Parimi worked as manager of advanced technology for the Delaware-based S12 Technologies until getting fired in December 2010.

    S12 contracts with government agencies such as Department of Defense and the U.S. Navy to design and manufacture antenna and low observables for military, land, air, sea and space applications.

    Parimi says S12 listed him as one of the key personnel working on a particular project before he even began working for the company in 2007. S12 also listed data taken from a professor at the University of Ohio in a bid, without the consent or knowledge of that professor, according to the complaint.

    S12 made these misrepresentations for the sole purpose of being awarded a contract or bid for a project, Parimi says. (Click HERE for article)

    Lobbyists Mobilize to Preserve Tax Breaks
    As negotiations over trillions of dollars in budget cuts ramp up, lobbyists are out to protect their clients
    Laura Litvan – May 19, 2011 – U.S. lawmakers in both parties are seriously weighing proposals that could shave from $4 trillion to $6 trillion from the U.S. budget over the next decade. For America’s lobbying class, that’s the equivalent of a Category 5 storm warning. So the pinstripe brigade representing interest groups as diverse as ethanol producers, defense contractors, and hospital chains has descended on the nation’s capital in recent weeks to ensure their tax breaks and subsidies are spared. Some 2,000 real estate agents parachuted into Washington the week of May 8 to defend the tax deduction homeowners receive on mortgage interest. Thousands of farmers who want to forestall cuts in agriculture subsidies have also been buttonholing their representatives. “I can’t remember anything close to this,” says Howard Marlowe, president of the American League of Lobbyists in Alexandria, Va., who during three decades as a Washington lobbyist has seen his share of budget battles.

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