Tax filing season is delayed
WASHINGTON — The Internal Revenue Service says late changes to federal tax laws should mean only a short delay for most taxpayers to file their 2012 returns. The agency said Tuesday that more than 120 million taxpayers — about 80 percent of all filers — should be able to start filing their federal returns on Jan. 30. Others will have to wait until late February or March to file because the agency needs time to update and test its systems. Those who will have to wait include people claiming residential energy credits, depreciation of property or general business credits. The filing season h was delayed because of the big tax package passed by Congress Jan. 1.
AIG directors to study lawsuit
NEW YORK — American International Group Inc. says its board of directors will weigh whether to take part or try to block a shareholder lawsuit against the U.S. over the government's $182 billion bailout of the insurer. AIG said that its directors will take up the matter on Wednesday and expects they will have a decision by the end of the month. Starr International Co. Inc., the investment firm of ex-AIG CEO Maurice Greenberg, filed the lawsuit. The complaint asserts that the government didn't provide shareholders just compensation when it took a nearly 80 percent stake in the insurer as part of its 2008 bailout.
Dish ups bid for Clearwire
NEW YORK — Wireless network operator Clearwire, which agreed to sell itself to Sprint in December, says satellite TV provider Dish Network Corp. is offering to buy the company for $3.30 per share, or $5.15 billion. Clearwire Corp. says it will discuss the unsolicited offer with Dish. Under the deal, Dish Network would buy about 24 percent of Clearwire's spectrum assets for $2.2 billion, and Clearwire would build and manage a wireless network for Dish. Dish would also provide up to $800 million in additional financing. Sprint Nextel Corp. owns 51 percent of Clearwire. In December it offered to buy the rest of the Bellevue, Wash., company for $2.97 per share.
From Wire Reports