Good Morning. The U.S. Supreme Court is in winter recess, and Congress is in session this week. Today is expected to be the busiest of the year for the U.S. Postal Service and for FedEx, so you may want o use a messenger services for time-sensitive filings. Meanwhile:
Is a cash award for personal injuries, including damages to reputation and emotional and mental distress, subject to federal taxes? The U.S. Supreme Court is being asked to answer this question, and settle an issue of law of great interest to tax professionals and litigators. (SCOTUSBlog).
The National Labor Relations Act is old, tired, and out of sync, according to NLRB member Wilma B. Liebman. (Berkeley Journal of Employmnet & Labor Law, via NLRB.gov – PDF File)
The Senate approved a bill that would make it easier for homeowners in danger of ballooning subprime mortgage rates to refinance. (AP via US News)
The Senate also passed a Freedom of Information Act bill that would require federal offices to be more open. (AP via Yahoo!)
The U.S. Economy will be “consumed” by health care costs without significant reductions in spending or increases in revenue, according to a report released by the Congressional Budget Office. (CongressDaily via KaiserNetwork)