At I.R.S., a Systems Update Gone Awry

Article Abstract:

The IRS Oversight Board reports that the IRS has yet to update its old computer system. The project, created in 1998, is now 40% over budget. More than $1 billion of $8 billion allocated for the job has been spent and critics feel that Computer Sciences Corp. is failing to follow a reasonable schedule to replace a system that handles 200 million taxpayers and cannot trace a current record in less than a week.

Public Finance Activities, Strategy & planning, Tax Administration, Management dynamics, Management, Planning, Tax administration and procedure, Records and correspondence, Company business management, Company business planning, Tax collection, United States. Internal Revenue Service

---

I.B.M. EMPLOYEES GET $320 MILLION IN PENSION SUIT

Article Abstract:

IBM has agreed to pay employees to settle a case regarding pension fund administration, but will appeal two claims in the class action lawsuit that challenge the legality of cash-balance pension plans; the results of those appeals will affect many other companies that have adopted similar plans.

Electronic computers, Personnel administration, Computer industry, Human resource management, Microcomputer industry, International Business Machines Corp., IBM, Labor relations, Pensions, Company personnel management

---

Hedge Fund Is Censured And Ordered To Pay Taxes

Article Abstract:

A federal judge has ruled that Long-Term Capital Management acted in bad faith when it accepted tax deductions, and must pay the government nearly $56 million.

Other Financial Vehicles, Investors, not elsewhere classified, Investment Offices, Investment Companies, Open-End Investment Funds, Investment Funds & Trusts, Taxes, Tax Shelter Investment Svcs NEC, Taxation, Tax shelters, Long-Term Capital Management L.P.

Similar abstracts:

• Abstracts: Medicare Law's Costs and Benefits Are Elusive. BUSH '05 BUDGET SEEKS TO REIN IN DOMESTIC COSTS
• Abstracts: JUSTICES, IN A 5-TO-4 DECISION, BACK CAMPAIGN FINANCE LAW THAT CURBS CONTRIBUTIONS. Justices Pick Apart Ban on Wine Sales From State to State
• Abstracts: 4 of 5 HealthSouth Executives Spared Prison Terms. Race, Religion and the HealthSouth Founder's Trial. When the Top Seat Is the Hot Seat

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.