Nene, Taxs, & Brc :new Energy Technologies, Inc. Financials

July 21, 2010 - PRLog -- NEW ENERGY TECHNOLGS (OTC BB: NENE.OB)

Recent News: NEW ENERGY TECHNOLOGIES, INC. Financials

New Energy Technologies, Inc. engages in the identification, acquisition, development, and commercialization of alternative energy technologies. It focuses on the development of MotionPower, a technology for capturing the kinetic energy of moving vehicles in order to use this captured energy to generate electricity; and SolarWindow, a technology that enables transparent glass windows to generate electricity by coating their glass surfaces with small solar cells. The company was formerly known as Octillion Corp. and changed its name to New Energy Technologies, Inc. in January 2009.

For More Info Visit: http://www.newenergytechnologiesinc.com

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TAXS, TaxMasters (OTC BB:TAXS)

Last Price: $0.61

Latest News

TaxMasters, Inc. is an IRS tax relief company committed to to helping clients with encounters with debt and tax problems. TAXS has made strong progress this year as the company continues to grow revenue and net income, as well as corresponding shareholder value.

The largest growth driver for TaxMasters has been the increasing number of taxpayers who have issues dealing with the IRS and who are out of tax compliance. The recession and rising unemployment has increased the number of at-risk Americans, those who are most likely to have the severe financial difficulty that causes problems meeting IRS obligations.

Total operating expenses for the first quarter of 2010 were approximately $9.9 million, an increase of 62.9% compared to $6.1 million for the same period in 2009. For the first quarter of 2010, the company reported net income from operations of approximately $1.5 million, an increase of approximately 20% compared to approximately $1.2 million for the same period in 2009.

Our sources are reporting that Treasury inspectors have recently lambasted IRS agents for not effectively finding all the unpaid taxes of sole proprietors. The Treasury inspectors completed a study of correspondence examinations on 2007 tax returns only to find that IRS examiners missed more than $16 million in unpaid taxes on sole proprietors in their limited sample.

It seems the failures lie in the correspondence examination process.

In a face-to-face audits, the IRS process typically uncovers unfiled tax returns and unreported income. But with correspondence examinations, auditors failed to uncover these basic facts. As logic dictates, adding new steps to an already slow correspondence examination process will not speed up revenue collection for the IRS in a time when the tax gap continues to grow and the Treasury faces incredible pressure to generate additional revenue.

TaxMasters, Inc. the IRS tax relief company, is the first publicly traded tax resolution firm in the United States. Started by Patrick R. Cox in 2001, TaxMasters offers services and counsel to taxpayers across the country facing seemingly insurmountable tax problems, and relief from substantial federal tax debt. Employing over 300 people, TaxMasters leverages the expertise of ex-IRS agents, enrolled agents, attorneys, CPAs, and seasoned tax consultants ready to counsel and assist every day people with their specific tax issues.



www.txmstr.com/

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Brady Corporation  Gary S. Balkema will join the Board of Directors of Brady Corporation effective July 19, 2010. Balkema, 54, is president of the Worldwide Consumer Care Division for Bayer AG and a member of the Bayer HealthCare Executive Committee.

Balkema joined Bayer in 1994 as president of Consumer Care USA. In 2000, he was appointed general manager of the Consumer Care Business Group, which ranks among the top consumer healthcare companies in the world, operating in more than 140 countries. His responsibilities included strategic direction and leadership for the business group worldwide. Prior to Bayer, Balkema was vice president and general manager of the Shulton Division and head of the Lederle Consumer Health Division, both at American Cyanamid, with leadership responsibility for manufacturing, sales, product management and strategic business management. He holds degrees in business administration and aeronautical science from Nathaniel Hawthorne College and received his MBA from Fairleigh Dickinson University.





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