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AT&T (T: 26.24, 0.08, 0.31%) said Friday that tax ramifications related to the newly passed health-care legislation will force it to take a $1 billion non-cash charge in the first quarter.
In papers filed with the U.S. Securities and Exchange Commission, AT&T said the charge stems from changes in the tax laws regarding the Medicare Part D subsidy. AT&T will no longer be able to deduct tax-free subsidies it receives from the government for providing retirees prescription-drug benefits.
“AT&T Inc. intends to take a non-cash charge of approximately $1 billion in the fi
Originally posted by DarkspARCS
This is further proof that multi billion dollar industries don't give a rats patuti about humanity.
Originally posted by whoshotJR
so you guys are pissed off that in order for them to help fund people having health care they are removing one of the huge corporate tax write offs that this giant evil company ( they are damn evil. they have the death star as a logo) has been getting for far too long and shouldn't have gotten in the first place?
People need to make up their minds. Are you for the big guy or the little guy or are you just bitching because it has to do with obama?