Financial news on July 23, 2006

Business and Financial news
I.R.S. to Cut Tax Auditors

The Bush administration will eliminate nearly half of the lawyers who handle gift and estate tax returns, which are filed for the wealthiest Americans. Read more..

By DAVID CAY JOHNSTON - The New York Times

Re-Refinancing, and Putting Off Mortgage Pain

As payments on mortgages balloon, many Americans have found a way to put off the day of reckoning. Read more..

By VIKAS BAJAJ and RON NIXON - The New York Times

See what else happened on July 23, 2006