The IRS Office of Professional Responsibility (OPR) alleged that Joseph Kozelsky did not file timely tax returns for 2001 through 2007 and did not timely pay his federal tax liability. As a result of his tax problems he was disbarred from practice before the Internal Revenue Service. Mr. Kozelsky didn’t help himself very much, since he failed to respond to the IRS’s complaint within 30 days. As a result the facts alleged by the IRS were deemed admitted, and the administrative law judge (“ALJ”) issued an order that Mr. Kozelsky engaged in disreputable conduct and should be disbarred.

The IRS publishes rules for professionals practicing before the IRS, and those rules are set forth in Circular 230. We have previously published an article on the procedures involved in an OPR disciplinary matter. Circular 230 includes rules for individuals preparing tax returns, providing tax advice, and representing individuals before the IRS.

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Spreads Cut on Major Forex Pairs

We have cut our minimum spreads on GBP/USD and EUR/GBP to just 1 pip, enabling you to enjoy even better value from the UK’s No.1 retail forex provider*.

We regularly review our dealing spreads to ensure our pricing remains highly competitive. With our latest cuts we have halved the minimum spread on GBP/USD and EUR/GBP – two of our most popular forex markets.

In addition to these new spread cuts, we continue to offer 1 pip spreads on the major EUR/USD, AUD/USD and USD/JPY pairs.

Spreads for major pairs

The new spreads are available from 1 June 2011.

Please note: The table above represents the lowest available spreads on these markets. Spreads may be wider depending on conditions in the underlying market. For

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A survey by the U.S. Federal Reserve, released Wednesday, found that weak consumer spending, slow job growth and tight credit are restraining growth into the second half of the year.

Growth slowed in eight of the Fed’s 12 bank regions in June and early July, the report found, compared with the spring. That marked the worst showing this year.

The Fed’s survey found that factory output weakened in some areas. That’s likely to heighten concerns that manufacturing, one of the economy’s few bright spots over the past two years, is sputtering.

Further such evidence came in a separate report Wednesday from the U.S. Commerce Department, which found that businesses reduced orders for airplanes, autos, heavy machinery and other long-lasting manufactured goods in June.

Orders for durable goods fell 2.1 percent, the department said. It was the second drop in three months.

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Steve Hilton, one of David Cameron’s closet advisers, has raised eyebrows among members of the coalition by suggesting the UK should ditch maternity leave and scarp consumer rights laws in a bid to kick-start the economy.

The policy guru, who masterminded Mr Cameron’s poorly received “Big Society” idea, also suggested the UK government should ignore European labour regulations on temporary workers and abolish all Jobcentres.

Speaking to the Financial Times, an insider explained Mr Hilton’s thoughts on maternity leave laws: “Steve thinks that they are the biggest obstacle to women finding work, because companies know they are required by law to offer maternity leave.

“He also wanted to suspend all consumer rights legislation for nine months to see what would happen. Some of his i

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They seem crazy, but are they insane? I don’t think so. And investors don’t think so either … at least not yet.

The Asian markets are barely red tonight, with the Nikkei off 0.6%.

From CNBC: Pre-Market Data and Bloomberg futures: the S&P 500 is off about 11 points, and Dow futures are off about 105 points.

A couple of articles, but nothing new …

From the WaPo: Debt-limit talks at a standstill as parallel strategies take shape in House, Senate

From the WSJ: Gridlock for Debt Talks

Yesterday: Schedule for Week of July 24th

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