The tax credit for corporate research and 54 other breaks in theU.S. tax code expired Dec. 31. They've been replaced by confusionand frustration.
As U.S. corporations such as Intel Corp. and General ElectricCo. report earnings this month, they're warning shareholders andanalysts that they can't assume Congress will reinstate lapsedbreaks retroactively, though lawmakers have done just that fourtimes in the past eight years.
Corporations say they're unable to offer analysts and investorsconsistency in predicting what their tax rate will be in any givenyear and must explain fluctuations that can cause profit to vary byhundreds of millions of dollars.
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