As April 15 nears each year, American taxpayers take inventory of their income and expenses and hand over a year’s worth of detail to the Internal Revenue Service (IRS). Many of us utilize the expertise of accountants to prepare what will become a complex analysis of the many life happenings that impact the sum of the taxes we owe or our refund.
Lauren Levine is settling in with a group of friends apartment to watch “American Idol,” when a look of panic comes over her face. She rummages around, finds her keys and darts out.“I left the hair thing on,” she says when she returns, breathless, from her own apartment downstairs. “I was straightening Jasmine’s hair before we came up here, and I forgot to turn it off. Wow. That was close.” Levine has wide blue eyes accentuated with sparkly eye shadow, and her voice is spiced with a sense of interested wonder.
In a recent report, the Government Accountability Office (GAO) challenged the impact of U.S. sanctions against Iran, noting Iran's ability to negotiate $20 billion in contracts with foreign firms since 2003 to develop its energy resources. The GAO correctly recognizes that "Iran's overall trade with the world has grown since the U.S. imposed sanctions." What the GAO fails to recognize is that the most important provisions of the cornerstone of America's sanction against Iran, the Iran Libya Sanctions Act (ILSA) of 1995, have not been implemented, and it is precisely these provisions that sought to cripple Iran's ability to trade with the rest of the world.