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irs may need an extra 1 billion to implement new tax law over the next two years - Search

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irs may need an extra $1 billion to implement new tax law over the next two year


along with updating systems and tables, tax collection agency will need to train workers and add people to answer phone calls.        






eu online-security plan is criticized


frankfurt—business groups are slamming a european union proposal that would require customers to enter extra security information for online purchases above €10 ($10.64), saying the extra hassle could cut online sales by more than €11 billion ($11.7 billion) a year.the european banking authority, an eu rule-making body based in london, said it aims to combat fraud by requiring customers to enter extra information, such as a personal...






trump-backed navy expansion would boost costs some $400 billion over 30 years: s


expanding the u.s. navy to 355 ships as recommended by military leaders and backed by president donald trump would cost some $400 billion more over the next 30 years than the currently planned 308-ship fleet, according to a study released on monday.the annual cost to build, crew and operate a 355-ship fleet would be about $102 billion, or 13 percent more than the $90 billion needed for the currently planned navy, according to the study by the nonpartisan congressional budget office.the $102 billion cost of the 355-ship fleet is 33 percent more than congress appropriated in 2016 for the current 275-ship navy, the cbo said.to achieve the larger force, the navy would need $26.6 billion annually for ship construction, which is 60 percent more than the average amount that congress has appropria






greece’s parliament approves new cuts, austerity measures


athens—greece’s parliament approved late thursday a raft of fresh austerity measures and economic reforms that the country must implement in the next four years to unlock a much-needed cash payment to meet upcoming debt obligations.meanwhile, greece’s most influential creditors—germany and the international monetary fund—remain deadlocked over debt restructuring.the measures, totaling more than €4 billion ($4.4 billion),...






cio jury: two-thirds of tech leaders are not implementing ai


more for cxosenterprise artificial intelligence (ai) and machine learning platforms are poised to grow exponentially in the coming years, research shows. revenue for cognitive and ai systems will hit $12.5 billion in 2017—up nearly 60% percent from last year, according to a recent idc report. by 2020, these ai systems will top $46 billion.leading enterprise use cases in 2017 include quality management and recommendations, diagnosis and treatment, customer service, and security and fraud investigations, idc found. but when we asked our panel of tech leaders "has your company implemented, or is it planning to implement, ai or machine learning?" just four out of 12 cios said yes, while eight said no. "many organizations are beginning to explore artificial intelligence's possibilities," said b






u.k.’s hammond announces sharp cuts to economic forecasts


london—u.k. treasury chief philip hammond on wednesday presented gloomier forecasts for the economy, in a budget address to parliament that earmarked an extra £3 billion ($3.97 billion) over the next two years to prepare for the country’s departure from the european union. presenting his latest tax-and-spending plans to lawmakers, mr. hammond also offered a variety of sweeteners to voters weary after years of government belt-tightening. a particular focus was the young: he pledged billions of pounds in tax breaks and government...






single-payer healthcare could cost $400 billion to implement in california


a single-payer healthcare system in california — a galvanizing cause among the state's progressive flank — would cost $400 billion annually, according to a legislative analysis released on monday.the analysis, released in advance of the proposal's hearing in a key fiscal committee, fills in what has so far been the biggest unanswered question concerning the plan to dramatically overhaul california's healthcare coverage.the analysis found that the proposal would require:a total cost of $400 billion per year to cover all healthcare and administrative costs.of that, $200 billion of existing federal, state and local funds could be repurposed to go toward the single-payer system.the additional $200 billion would need to be raised from new taxes.the analysis proposes one scenario in which a new






mystery ca gas charge cost families $1,200 so far


who wouldn’t like to pay less for gasoline?  that’s why there will be a lot of grumbling wednesday when california’s gasoline tax goes up by 12 cents per gallon.  that’s also why opponents of the tax increase are collecting signatures for a ballot initiative to reverse it, and are leading a drive to recall one state senator who supported it.what isn’t get much attention in the debate is why our gasoline prices are already so high, averaging 60 cents above the rest of the country these days. taxes play a role, as do programs to fight pollution.but since early 2015 a large unexplained premium has been going to gasoline sellers.  this may be profiteering, or it may be driven by infrastructure constraints on gasoline production and imports, but it is definitely not due to taxes.yet, politician






extra ei help for regions hit by energy downturn tops $1 billion — double what w


ottawa — a federal program designed to give extra financial help to out-of-work canadians in the hardest-hit economic regions of the country has blown past liberal budget estimates with more than $1 billion in payouts.the payments to date are double what the government anticipated it would spend to provide extra weeks of employment insurance benefits to workers in 15 regions smarting from a sharp downturn in energy prices.when the plan was set up last year, the government initially estimated that 235,000 people would use the extra benefits.by october, just over three months into the program, the take-up rate was almost half of forecast numbers.now, six months later, employment and social development canada says there have more than 267,000 claims for the extra weeks as of the middle of apr






google outlines to eu how it will change search results


alphabet inc.’s google has sketched out to the european union’s antitrust authority how it plans to implement the regulator’s recent order to stop illegally tipping the scales in favor of its own comparison-shopping service, the eu said tuesday.the european commission, which has for roughly seven years been investigating google for breaching the bloc’s antitrust rules in various areas, in june fined google a record €2.42 billion...






salesforce wants to be a $60 billion company by 2034


we all know that salesforce sets big goals. it just recently blew through its $10 billion goal just a few years after ceo and co-founder marc benioff had set it, but the company has no intention of simply stopping there, not by a long shot.in a slide posted on twitter today from cto and co-founder parker harris’s presentation to a group of analysts, the company revealed that it has even bigger goals, much bigger. we all had heard about the $20 billion goal by 2022, but how about $40 billion by 2028 and $60 billion by 2034?as salesforce sees it, their revenue goals are like the chapters in a book. as we enter 2018, the company is just beginning chapter 3, the $20 billion goal. beyond that chapters 4 and 5 loom with the goal of adding $20 billion every six years.that’s quite an aggressive se






cognitive and artificial intelligence spending expected to surge through 2020, s


special feature how to implement ai and machine learning the next wave of it innovation will be powered by artificial intelligence and machine learning. we look at the ways companies can take advantage of it and how to get started. revenue for cognitive and artificial intelligence systems will hit $12.5 billion in 2017, up 59.3 percent from a year ago, according to idc. through 2020, these ai systems will top $46 billion, up 54.4 percent on a compound annual growth rate. the biggest portion of that spending in 2017 will go to cognitive applications. idc projects 2017 spending of $4.5 billion for the year. cognitive and ai software platforms with tools to organize, access and analyze data will see spending of $2.5 billion. meanwhile, services attached to rolling out cognitive and ai service






li schools get extra $129m in state aid under budget deal


advertisement | advertise on newsdaymassapequa parent susanne smoller speaks to school board members about her concerns regarding school funding during a meeting on thursday, april 6, 2017, during which the school board voted to approve the proposed 2017-18 budget. (credit: gordon m. grant) long island schools will receive an extra $129 million in state financial aid for the 2017-18 academic year as part of a $1.1 billion statewide education funding package cobbled together by albany lawmakers a week after the statutory deadline.the aid agreement brings overall state assistance to public schools in nassau and suffolk counties to $3.1 billion for 2017-18.state aid...






salesforce wants to reach $60 billion revenue goal by 2034


we all know that salesforce sets big goals. it just recently blew through its $10 billion goal just a few years after ceo and co-founder marc benioff had set it, but the company has no intention of simply stopping there, not by a long shot.in a slide posted on twitter today from cto and co-founder parker harris’s presentation to a group of analysts, the company revealed that it has even bigger goals, much bigger. we all had heard about the $20 billion goal by 2022, but how about $40 billion by 2028 and $60 billion by 2034?as salesforce sees it, their revenue goals are like the chapters in a book. as we enter 2018, the company is just beginning chapter 3, the $20 billion goal. beyond that chapters 4 and 5 loom with the goal of adding $20 billion every six years.photo: brent leary, crm essen






plate tectonics may have begun a billion years after earth's birth


the differentiation of oceanic and continental crust could date back 3.5 billion years.






top french banker: le pen's euro exit would cost billions


paris — france's central bank chief says that presidential candidate marine le pen's proposal to leave the euro currency would cost the country more than 30 billion euros ($32 billion) a year in extra debt interest.francois villeroy de galhau vigorously defended the euro on france-inter radio monday, warning voters not to believe le pen's nationalist promises of stronger purchasing power if france abandons the shared currency.villeroy de galhau said leaving the euro would unleash high inflation, devastating individuals' savings.a major question is how le pen would handle france's considerable debt. she said last week she would redenominate most of it into a new currency.the central bank chief estimated that the extra debt interest would be over 30 billion euros a year, roughly equivalent t






japan passes law legalizing airbnb and other sharing economy rentals


there’s good news for airbnb in japan where the government has approved legislation that legalizes its service, and others like it, in the country.the law, which was passed by japan’s upper house on friday, will allow home-owners to let out their property to paying guests for up to 180 days per year. they are subject to registering with local authorities who, in turn, have license to implement their own restrictions, bloomberg reported.airbnb said japan is one of its top ten markets worldwide with five million people using its service in the country over the past 12 months. the company claims its community “generated $8.3 billion of economic impact” during 2016. that figure is only likely to raise as the country’s tourism industry gears up for a boom around the 2020 olympic games and, befo






li schools get extra $129m in state aid under budget deal


advertisement | advertise on newsdaymassapequa schools superintendent lucille f. iconis speaks at a meeting on thursday, april 6, 2017, during which the school board voted to adopt the proposed 2017-18 budget. regional school leaders welcomed the overall 4.3 percent state aid increase for the island's 124 districts. (credit: syntax) long island schools will get an extra $129 million in state financial aid for the 2017-18 academic year as part of a $1.1 billion expansion of education funding statewide under a tardy budget expected to get senate consideration sunday.the aid agreement brings overall state assistance to public schools in nassau and suffolk counties to $3.1 billion for the coming year.state aid makes...






is jerry brown’s pension-paydown plan a boon or a boondoggle? – the mercury news


albert einstein purportedly called the compounding interest earned on investments the “eighth wonder of the world.”whether this is fact or legend, you do not need to be a financial genius to figure out it makes sense to pay down the state’s high cost pension liabilities with idle funds that earn very little interest.the same reasoning that says it is smart to pay off a high-interest personal credit card with a low-interest one applies to government.that is why the governor’s budget proposal presents a prudent opportunity to reduce the state’s unfunded pension liability by more than $11 billion over the next 20 years.shrinking the unfunded liability, now at $59 billion, frees up money down the road that can be used to invest in public safety, environmental protection, health care and other






the gig economy is a boon for boomer retirees


craig and kathy are an active retired couple who were searching for a side job. they wanted something that would allow them to make some money to supplement their retirement income, determine their own hours and spend time together. during an online search, they landed on rover.com, the nation's largest network of dog sitters and walkers. for these dog lovers, it was a perfect fit: they now host more than 200 dogs with over 100 repeat customers and have garnered numerous five-star reviews. this extra income has allowed the couple to keep their savings and retirement funds intact, while generating some extra cash for fun activities.craig and kathy are a good example of retirees who are using the gig economy to supplement their retirement income. this is indeed a great employment strategy fo






warriors' franchise valued at $2.6 billion by forbes magazine


the warriors’ record-setting 73 wins, signing of kevin durant, impending move to san francisco and continued on-court success has them vaulting up forbes’ annual list of nba franchise valuations.the business magazine released its rankings on wednesday morning. the warriors came in at third, valued at $2.6 billion, behind only the new york knicks ($3.3 billion) and los angeles lakers ($3 billion).over the past few years, the nba’s popularity and financial health have spiked to unprecedented levels. a record 18 teams are valued over $1 billion by forbes this year. coinciding perfectly, the warriors new ownership group — and superstar on-court cast — have grown rapidly with the league.seven years ago, the warriors were sold for a then nba record $450 million. two years later, in 2012, they we






walmart taps store associates for last-mile delivery program


discount retail giant walmart is testing a new last-mile delivery program that aims to cut shipping costs and improve delivery times in an effort to better compete against amazon.what's hot on zdnetthe program utilizes the retailer's existing store associates, giving employees the opportunity to earn extra income by delivering online orders on their way home from work. the pilot is spearheaded by marc lore, chief executive of walmart us e-commerce, who joined the retailer following its $3 billion acquisition of jet.com in 2016. workers "earn extra income on their existing drive home," lore wrote in a blog post. "once they're done working at the store for the day, they pick up the packages from the backroom, load them into their vehicle, enter the delivery addresses into the gps on their ph






what's going to happen in the next billion years


do you ever stop during your morning coffee and wonder, “what’s going to happen during the next billion years?” well, wonder no more––this video explains it all.full story at youtube.more great vids. posted by josh urich






one of the oldest and most distant objects in the universe has been discovered


a star-forming galaxy 12.8 billion light-years away offers insight into the early days of our universe after the big bang roughly 13.7 billion years ago.






why a later start to the school day could pump $1 billion into illinois' economy


if school districts throughout the state moved starting times to 8:30 a.m. so middle and high school students could sleep longer, illinois' economy would gain $1 billion within five years, according to a study by the rand corp.the state, along with others throughout the country, would benefit from fewer car crashes involving sleep-deprived adolescents, and from students performing better in school, going to college, and earning more in their careers, the study said.the researchers said the gain to the nation would be $9.3 billion within two years if every state made the change, a figure that is comparable to the annual revenue of major league baseball. the gains would come in the form of increased productivity, more tax revenue and other factors, according to the researchers.the nation's e






south korea plans $10 billion extra budget to create jobs


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what a civilization a billion years older than us would be like


imagine humanity, but a billion years older. what would our technology be? what would our transportation be? where would we be? this video explores some of those questions and more.full story at youtube.more great science. posted by josh urich






parts of earth's original crust exist today in canada


rocks from the eastern shore of the hudson bay in canada contain elements of some of earth's earliest crust, new research finds. the rocks themselves are granites that are 2.7 billion years old, but they still hold the chemical signals of the precursor rocks that were melted and recycled to form the rocks that exist today. the new study, published online today (march 17) in the journal science, finds that these precursors formed around 4.3 billion years ago. the earth is 4.6 billion years old, and the astronomical impact that formed the moon took place about 4.5 billion years ago. that makes the precursor rocks to the canadian granites among the earliest crust after the moon-forming impact, said study leader jonathan o'neil, a geoscientist at the university of ottawa in canada. [photo time






repsol closes 2016 with best net profit in 4 years


madrid — spanish energy company repsol has reported its best annual earnings in four years as it booked fewer impairment charges related to low oil and gas prices.its net profit of 1.73 billion euros ($1.82 billion) compared with a loss of 1.4 billion euros in 2015.in the final quarter of 2016, it made a net 616 million euros, overturning a loss of 2.84 billion euros in the same period one year before.ceo josu jon imaz said thursday that the company had reduced its operational costs by more than 1.6 billion euros. repsol also benefited from the acquisition of canadian oil company talisman, which increased production and exploration assets.shares in repsol s.a. gained 1.5 percent to 13.9 euros in early madrid trading.






a whopping billion hours of youtube content is being consumed each day


youtube is undoubtedly one of the most popular online video services available today. but just how popular is it? well, here's a number that should give you an idea: we are consuming a whopping billion hours of youtube content each day.to put that figure into perspective, "if you were to sit and watch a billion hours of youtube, it would take you over 100,000 years," the company said in a blog post. "if you spent 100,000 years traveling at the speed of light, you could travel from one end of the milky way to the other."youtube was recently in the headlines after google announced that it's planning to do away with the 30-second mandatory ad format. perhaps, the company should also disclose how much of those 'one billion' hours are advertisements (:p).source






minnesota lawmakers enter final day to wrap up budget


st. paul, minn. — minnesota lawmakers are down to their last day to wrap up several major budget bills to avoid needing extra time to finish the work of the legislative session.the house and senate reached deals late sunday on water buffers to pass an environment bill, and agreed on funding for colleges and universities over objections from minority democrats that the university of minnesota wasn't getting enough money.but most of a two-year, more than $45 billion budget isn't done. the deadline to adjourn is midnight monday.majority republicans were pushing for a smaller budget with more than $1 billion in tax breaks. democratic gov. mark dayton favored something closer to $46 billion, with money for a prized preschool program.






the motley fool: useful tips on investing


what’s fair for facebook?q: i see that facebook has a market value near $400 billion. isn’t that pretty high? a: it depends on how facebook is performing and what you think its prospects are. a company’s value is largely in the eyes of its beholders. with facebook, you might check out a few numbers to assess its value. its price-to-earnings (p/e) ratio, for example, was recently 39. that’s far steeper than the s&p 500’s recent p/e in the mid-20s, but facebook is growing much faster than the average company. its revenue in 2016 topped $27 billion, up from $18 billion in 2015. over the same year, profits surged from $3.7 billion to $10.2 billion. fast growers tend to sport steep p/e ratios.for more context, consider the approximate recent market values of apple ($730 billion), general electr






administration begins to implement russia sanctions under new u.s. law


washington—the trump administration on thursday took initial steps toward imposing sanctions targeting moscow under a new u.s. law by sending congress a list of entities linked to the defense and intelligence arms of the russian government.the move is behind schedule, missing an oct. 1 deadline set in the u.s. legislation, which president donald trump signed over the summer. republican and democratic lawmakers had criticized the administration for the lag. the administration said the state department needed extra time to...






mars was habitable between 3.8 & 3.1 billion years ago


mars would have had conditions right for life to survive for around 700,000 years, between 3.8 and 3.1 billion years ago, scientists have discovered. by analyzing rocks from the gale crater—a 96 mile wide depression that was once a vast lake—scientists have shown the conditions on mars over various periods. their research, published in the journal…






tencent posts $21.9 billion in annual revenue, its highest growth since 2012


tencent may be more than a decade old but the chinese internet giant continues to grow at pace after it posted its most significant jump in annual revenue for four years.the firm, best known for china’s dominant messaging app wechat, announced total revenue of rmb 151.9 billion ($21.9 billion) for its fiscal 2016. that’s up 48 percent year, its biggest leap since 2012, when overall sales rose by 54 percent to reach rmb 43.9 billion — which translated to approximately $7 billion at the time.tencent also grew its annual sales impressively. net profit for the year increased by 43 percent to reach rmb 41 billion, or $5.9 billion. that’s a big jump on its 2012 figure, which, for the sake of a consistent comparison, came in at rmb 12.7 billion — roughly $2 billion at the time.the company’s final






tencent posts $21.9 billion in annual revenue, its highest growth since 2012


tencent may be more than a decade old but the chinese internet giant continues to grow at pace after it posted its most significant jump in annual revenue for four years.the firm, best known for china’s dominant messaging app wechat, announced total revenue of rmb 151.9 billion ($21.9 billion) for its fiscal 2016. that’s up 48 percent year, its biggest leap since 2012, when overall sales rose by 54 percent to reach rmb 43.9 billion — which translated to approximately $7 billion at the time.tencent also grew its annual sales impressively. net profit for the year increased by 43 percent to reach rmb 41 billion, or $5.9 billion. that’s a big jump on its 2012 figure, which, for the sake of a consistent comparison, came in at rmb 12.7 billion — roughly $2 billion at the time.the company’s final






tencent posts $21.9 billion in annual revenue, its highest growth since 2012


tencent may be more than a decade old but the chinese internet giant continues to grow at pace after it posted its most significant jump in annual revenue for four years.the firm, best known for china’s dominant messaging app wechat, announced total revenue of rmb 151.9 billion ($21.9 billion) for its fiscal 2016. that’s up 48 percent year, its biggest leap since 2012, when overall sales rose by 54 percent to reach rmb 43.9 billion — which translated to approximately $7 billion at the time.tencent also grew its annual sales impressively. net profit for the year increased by 43 percent to reach rmb 41 billion, or $5.9 billion. that’s a big jump on its 2012 figure, which, for the sake of a consistent comparison, came in at rmb 12.7 billion — roughly $2 billion at the time.the company’s final






family of teen who died after wisdom teeth procedure sues edina dentist


the “negligent and dangerous” actions of an edina oral surgeon during a routine wisdom teeth extraction led to the death of an eden prairie teen, the ’s family is alleging in a lawsuit filed this week in hennepin county district court.the medical malpractice and wrongful death suit against dr. paul tompach, who continues to see patients under state licensing board restrictions, alleges that several missteps caused the death of sydney galleger in june 2015. the lawsuit’s allegations about what tompach did wrong early in the procedure mirror much of what the state board of dentistry investigation determined before it put him under indefinite restrictions starting in march 2016.those missteps range from incorrectly administering general anesthesia to failing to provide proper monitoring durin