If tax considerations played a role in Jeff Bezos' $250 million purchase of The Washington Post, he may need to reconsider his hands-off approach if he hopes to offset gains from other ventures with losses at the newspaper.
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For U.S. corporations the top federal income tax rate is 35 percent, but large, profitable companies on average paid only about a third of that in 2010, a report by the investigative arm of Congress said on Monday.
Internal Revenue Service staff have a long history of discouraging applications for tax-exempt status from controversial groups by burying them in complicated questionnaires, according to former IRS officials. Among other reasons, they said, the tactic was sometimes used to persuade groups to drop their applications so the IRS could avoid making a ruling.
