NEWSWIRE

Mega Millions Winners Will Owe Jackpot of Taxes

The three winners of the record-breaking $656 million Mega Millions lottery jackpot will owe at least 25 percent of their winnings to the Internal Revenue Service.

Obama Says Congress Will Vote on 'Buffett Rule' Millionaire Tax

President Obama said in his weekly address Saturday that Congress will be voting in the weeks ahead on the Buffett Rule, which would raise taxes on the wealthy.

IRS Issues Regulations on Public Inspections of Material on Organizations Denied Tax Exemptions

The Internal Revenue Service has recently published its final regulations on public inspection of material relating to tax-exempt organizations, which affects organizations that were exempt but are no longer exempt from federal income tax, and organizations that were denied tax-exempt status.

U.S. Corporate Tax Rate Becomes Highest on April 1

The U.S. is set to have the highest combined federal and state statutory corporate tax rate in the industrialized world on Sunday, April 1, once Japan drops its top rate to 38.1 percent.