The tax code is full of complicated loopholes and deductions that require professional translation. So I called a bunch of accountants and tax lawyers and asked them: What are your favorite, most confusingly named deductions — and what do they actually mean?
Intangible Drilling Costs
"The government will pay you to dig a hole in the ground," says Howard Rosen, a CPA in St. Louis. "You can write it all off immediately."
"A man of genius makes no mistakes," James Joyce wrote in Ulysses. "His errors are volitional and are the portals of discovery." Looks like Ireland's Central Bank has taken that message to heart.
The bank announced Wednesday the launch of a limited-edition coin to honor the Irish writer. The coin features a portrait of Joyce and a quotation from Ulysses, arguably his most famous novel. Trouble is Joyce was misquoted.
Originally published on Fri April 12, 2013 7:13 am
The Pentagon's intelligence arm has "moderate confidence" that North Korea may have developed the technology to create nuclear weapons that are small enough to fit on a long-range missile.
NPR's Larry Abramson filed this report for our Newscast unit:
"The Defense Intelligence Agency assessment says such a weapon would probably not be very reliable. This is the first time the U.S. has concluded that Pyongyang's nuclear efforts have reached this point.
Republican National Committee Chairman Reince Priebus speaks at the National Press Club in March. Priebus has irritated faith-based values voters and others in the GOP with his quest to retool the party following the losses of 2012.