If you prepaid property taxes, will you get the deduction? If not, can you get your money back?

With three days left in the calendar year, there is still plenty of confusion about whether thousands of taxpayers who rushed to prepay property taxes this month will be able to claim an extra deduction on their next tax returns.

Many jurisdictions across the country had been telling residents they could make — and possibly deduct — these prepayments, as a way to try to lessen the impact of a new federal cap on state and local tax deductions that will commence with taxes filed in 2019.

But late Wednesday, the Internal Revenue Service said taxpayers may only claim deductions for 2018 on taxes assessed during the 2017 calendar year.

“In general, whether a taxpayer is allowed a deduction for the prepayment of state or local real property taxes in 2017 depends on whether the taxpayer makes the payment in 2017 and the real property taxes are assessed prior to 2018,” the IRS said in its Wednesday advisory. “A prepayment of anticipated real property taxes that have not been assessed prior to 2018 are not deductible in 2017.”

People line up at the Town of Hempstead tax receiver’s office in New York to pay their real estate taxes before the end of the year, hoping for one last chance to take advantage of a major tax deduction before it is scaled back. (Howard Schnapp/AP)

That prompted some local government officials to warn property owners who just forked over thousands of dollars months ahead of schedule that those payments probably aren’t deductible.

Other local bureaucrats were scrambling to define at what stage of the process a property is considered assessed. Is it when the bill goes out? When the value of the property is established by the city or county government?

In the District, city leaders were confident that property assessments were issued in time for residents who prepaid to claim deductions.

In many Virginia municipalities, as well as in California, leaders warned that assessments have not been completed and prepayments probably would not qualify for deductions.

“The billing is the mechanical part of it — it is the assessment or the levy that is crucial,” said Jackie Perlman, principal tax research analyst at the Tax Institute at HR Block. “The assessment means that the county has sat down, they have their [property tax] rate, they have evaluated your property, and they have concluded you owe X amount on your property.”

Another looming issue is whether jurisdictions that have not assessed will be able to offer refunds to people who paid taxes in advance in hopes of claiming a deduction.

Nicole Kaeding, an economist with the Tax Foundation, a think tank, said it is not unusual for the IRS to issue advisories offering its interpretation of laws passed by Congress. But, she said, it is likely that some of these uncertainties stemming from the new tax bill and the subsequent IRS advisory will have to be figured out in court.

Residents fill out paperwork and use locked drop boxes to pay their taxes at the Fairfax County Government Center. (Chip Somodevilla/Getty Images)

“I don’t think taxpayers are going to have complete clarity by year’s end, and I do suspect there will be some litigation from someone who has prepaid but their payment is not allowed,” Kaeding said. “At worst, if an individual has prepaid and doesn’t get the deduction, they’ve provided an interest-free loan to their municipal government.”

Here’s a preliminary look at what the jurisdictions in the D.C. region and across the country are telling their residents.

The nation’s capital seems more optimistic than most of its neighbors that its residents will be able to prepay their taxes and take advantage of the deductions one last time.

Jeffrey DeWitt, the city’s chief financial officer, said in an email to city leaders Thursday that properties in the District have already been assessed for 2018.

“Pursuant to the IRS Advisory, since the District both assessed properties and set real property tax liabilities in 2017, there is a basis, if a taxpayer chooses to prepay real property taxes by December 31, 2017, for the taxpayer to claim a deduction on his or her 2017 return,” DeWitt said. A statement posted on the website of the D.C. Office of Tax and Revenue drew the same conclusion.

D.C. homeowners can prepay their taxes and find out more at taxpayerservicecenter.com.

Assessments are effective Jan. 1, but properties are not actually assessed until later in January or February. Tax rates are set in the spring, and tax bills are mailed in May or June. In other words, deductions seem extremely unlikely, based on the IRS advisory.

Kevin Appel, an attorney for the Treasurers’ Association of Virginia, said that past legal rulings in the commonwealth seem to suggest that jurisdictions are not required to refund voluntary prepayments of property taxes.

“I’ve been looking at cases, and there may be some cases that say you’re not required to do it,” Appel said. “For some jurisdictions, [refunds] will be a burden.”

Fairfax County: Virginia’s largest jurisdiction, which took in more than $15 million in prepayments this week, said it is reviewing reimbursement options.

It has extended office hours through Friday.

Loudoun County: County Treasurer H. Roger Zurn Jr. described the situation as a “mess” and said some residents have already demanded refunds.

Late Thursday, the county said it could provide a preliminary 2018 assessment to residents seeking to make prepayments before the end of the year. But the county warned that it cannot guarantee that these prepayments can be deducted.

Residents seeking their estimated 2018 assessment were told to call the Commissioner of the Revenue at 703-777-0260.

Alexandria: More than 650 Alexandria taxpayers made prepayments of more than $6 million from Dec. 1 through Dec. 27, according to a city news release.

“The City continues to encourage taxpayers who are considering prepayment to consult qualified tax professionals before deciding whether to prepay and determining the date by which payment must be sent or received,” the release states.

Customers who made prepayments may request refunds by contacting the city’s Treasury Division at payments@alexandriava.gov or 703-746-3902.

Arlington: Arlington County Treasurer Carla de la Pava said her office has taken in $11.5 million in prepayments from 1,569 residents since Dec. 1, with more than half of that coming in Wednesday. Taxpayers were still arriving Thursday morning to prepay taxes, despite the IRS directive.

“We have had a few people requesting refunds, but not as many as you might think,” de la Pava said. Taxpayers who want their money back have to submit a request in writing, and it may take as long as eight weeks for the refund.

The vacation-depleted staff was working through the 1,000 phone calls and messages, and 500 emails, that came in Wednesday.

Both Montgomery County and Prince George’s County — large Washington suburbs that have a combined population of nearly 2 million — say they have not yet assessed properties for 2018.

Which is ironic, because both jurisdictions took unusual steps this week to try to allow residents the option of prepaying their taxes.

Montgomery County: The County Council interrupted its holiday recess to meet in emergency session Tuesday and passed a law allowing prepayment.

On Wednesday, 700 residents prepaid their taxes in person at county offices, with payments totaling about $8 million. An unknown number of additional residents mailed their payments.

The county said in a statement Thursday that the new prepayment law does not permit immediate refunds.

“In accordance with law passed by the Montgomery County Council on December 26, 2017, there can be no refunds until there is a 2018 tax bill for your account, the prepayment of 2018 tax is posted to your 2018 tax bill, and the prepayment exceeds the amount due on the 2018 Real Property Consolidated Tax bill,” the statement said.

Prince George’s County: Prince George’s County announced Wednesday that its council, too, would interrupt recess to consider emergency prepayment legislation on Thursday.

But after the IRS issued its guidance, Prince George’s canceled the emergency meeting.

The Washington region is far from alone in its scramble to figure out what the IRS announcement means for residents. Kaeding, the Tax Foundation economist, said high-taxed regions with high-income residents, including Philadelphia, New Jersey and New York, are all wading through this same confusion.

New York Gov. Andrew M. Cuomo (D), who issued an executive order last week allowing residents to prepay at least a portion of their property taxes, threatened legal action against the federal government Thursday over the change in these deductions.

In deep blue California, residents are not permitted to prepay their property taxes for 2018 because their properties have not yet been assessed, according to the San Jose Mercury News.

And in New Jersey, outgoing Gov. Chris Christie (R) signed an executive order Wednesday calling on municipalities in the state to accept prepayments for at least the first and second quarters.

Many jurisdictions in the Garden State, including the Township of Montclair, have already issued first and second quarter tax bills for 2018. Montclair has seen a rush of people attempting to make prepayments, according to its website, and is keeping government offices open over the weekend to accommodate them.

“Given the recent influx of queries to the Township regarding 2018 property tax pre-payment, we decided to provide additional time on a Saturday for those residents and business owners who wish to pay their 2018 taxes in advance,” Mayor Robert Jackson said in a news release.

Peter Jamison and Rachel Siegel contributed to this report.

Trump’s press strategy: A few questions, then a quick escape

President Donald Trump is everywhere, and nowhere.

He’s opened up a one-way conversation with the public via his Twitter feed, letting the world in on his thoughts and opinions in an unprecedented way. He’s made a habit of answering questions, apparently off the cuff, during brief pool sprays in the Oval Office or on his way in or out of town on his frequent trips.

Story Continued Below

But his break with tradition in deciding to leave Washington for the holiday break without giving a formal year-end news conference was a move from the playbook that he’s used throughout his first year in office: Keep exchanges with the media short and avoid situations where he could be pinned down with in-depth questions and follow-ups.

Trump has done just a single solo press event since taking office — an impromptu 80-minute appearance last February in the East Room days after firing his former national security adviser Michael Flynn. President Barack Obama held 11 in his first year, according to figures kept by Martha Joynt Kumar, a retired political science professor from Towson University who tracks presidential appearances as director of the White House Transition Project.

But Trump has engaged reporters in 115 short QA sessions during his first year in office, usually for a few minutes at a time, a dramatic increase compared with Obama’s 46 short availabilities.

While Trump’s offhand sessions can lead to breaking news — for instance, on Dec. 17, when he declared that he did not intend to fire special counsel Robert Mueller — they also put the president in a position of control over the media.

Trump’s approach hews closer to the one set out by President George W. Bush, who did four solo news conferences and 144 short QA’s in his first year.

“The informality of it helps the president, and the fact that it’s typically three, four, five questions at a time helps the president,” said former George W. Bush press secretary Ari Fleischer. “It’s easier for the president to walk away when he wants to.”

Away from the strictures of the White House briefing room or the East Room, reporters typically are forced to shout out questions over one another — and often, the whir of Marine One — allowing Trump to pick and choose what he wants to answer. And if the president doesn’t like the questions, he has a literal escape vehicle right there.

Trump held 20 joint news conferences in 2017, by Kumar’s count, mostly bilateral affairs with foreign leaders in which each would take just two questions. Obama held 16 joint news conferences and Bush 15 in their first years, respectively.

Trump last took extended questions in October, when he abruptly canceled the daily briefing and invited the assembled press corps to the Rose Garden, where he spoke with Senate Majority Leader Mitch McConnell by his side.

“Short QA’s are valuable because they get the president’s initial impressions of something that’s breaking,” Kumar said. “Solo press conferences are important because they represent a time when reporters can delve into events and issues in a deeper way.”

She said Trump’s preference for brief encounters with the press is “a reflection of the way that he thinks, what his priorities are. Just get out there what’s on the top of his head at the moment. Don’t delve deeply into any kinds of complexities.”

The White House did not respond to request for comment.

The president’s penchant for seemingly spontaneous interactions with the press extends to his habit of doing unplanned, extended one-on-one interviews with White House reporters, including one with POLITICO last April and several with the New York Times, most recently on Thursday at his Florida golf club. By grabbing reporters on the fly — typically without time for preparation — Trump is able to do even these lengthier interviews on his own terms.

Mark Knoller, a longtime CBS News White House correspondent said Trump’s approach has pros and cons. The gaggles as Trump comes and goes from the White House are “very helpful” and “make a lot of news,” Knoller said.

“I prefer those to the formal news conferences, frankly,” he continued. “It’s rapid fire, it’s sort of like a lightning round and you’re able to get reaction on news of the day.”

With so little time, though, the most pressing questions tend to get asked first, making it difficult to break out of the daily narrative that, often enough, Trump himself has created with a statement on Twitter or elsewhere.

“If you’re looking to ask a long thoughtful question or something of depth, it’s hard to ask over the din of the Marine One engines. It doesn’t lend itself to that kind of thing,” Knoller said.

Bloomberg senior White House correspondent Margaret Talev said the noise of the helicopter is often so loud that reporters must afterward check their quotes with audio recorded from the boom mics — not exactly a situation that leads to easy follow-ups.

A formal news conference, she said, “is just a different format and it allows for different nuance or depth.”

Since the 1970s, presidents have traditionally used end-of-year news conferences to tout the achievements of the past 12 months and set a narrative going forward, but Trump was reportedly encouraged by staff to skip it for fear of stepping on the news of his recently signed tax law.

Talev, who serves as president of the White House Correspondents’ Association, said her group had been encouraging the administration to hold an end-of-year presser for several weeks, but to no avail.

“We’re disappointed that it didn’t happen before he left for Mar-a-Lago. It would be great if they decided in the closing days to do it,” she said. “I think it’s disappointing because both what the public can get out of a long-form news conference, and what he can get out of a long-form news conference, is a much deeper and more substantive understanding of individual issues of concern.”

“There’s a reason why presidents historically have done it,” she said. “There’s a value to it.”

Instead, last week, the White House held an off-camera briefing on background “regarding the accomplishments from the president’s first year in office,” according to the wording of an email sent to reporters.

According to the count kept by Knoller, who also tracks presidential appearances, Obama did year-end news conference in five of his eight years. The other three years featured less all-encompassing December events on specific topics, sometimes with Obama accompanied by another speaker. Bush did them in seven of eight years.

Fleischer said there were multiple reasons Bush observed the December ritual. “One, he was more of a traditional-style president and he would honor those traditions, so it was in keeping with his nature. Two, it helped sum up a year,” he said. “It’s a way to go on offense. But you know, Bush didn’t have Twitter. Bush didn’t have the tools that Trump has to go on offense and to go around the press.”

Fleischer said he approves of how Trump has relied on brief sessions to manage the news media, and that he dislikes formal news conferences — he believes there’s too much preening and showmanship by reporters. But he would like to see Trump answer more in-depth questions outside the immediate news cycle. One way to do that, he said, would be to do more television interviews.

While Obama and Bush faced a range of TV interviewers, Trump has stuck almost exclusively to Fox News and Fox Business Network, appearing on those channels 19 times, compared with twice on NBC or MSNBC, once each on CBS News and ABC News, and zero times on CNN.

Evening out that count could benefit Trump, Fleischer said.

“I do worry that, for Trump’s sake and for the Republicans’ sake in the midterms, Donald Trump’s appeal remains largely limited to his base,” he said. “He must grow that, and the way to grow it is talk to other media outlets, talk to people who he otherwise won’t reach.”

Dow Sets New Highs, Apple Apologizes

Here are five things you must know for Friday, Dec. 29:

2. — Apple Apologizes

Apple Inc. (AAPL) apologized and said it would offer discounted battery replacements for older model iPhones after users discovered that the company’s operating system updates deliberately slowed down the devices.

Apple said the operating system changes were made to avoid sudden shutdowns of devices as their batteries age. But some users complained that the degraded speeds actually served as an underhanded trick to drive people to upgrade to a newer phone.

Apple denied that. “We have never — and would never — do anything to intentionally shorten the life of any Apple product, or degrade the user experience to drive customer upgrades,” the company said in a statement.

Nevertheless, Apple said it would cut the price of replacement batteries for anyone with an iPhone 6 or later to $29 from $79 starting in late January. The company also said it would update its operating system to give users “more visibility into the health of their iPhone’s battery.

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It’s Cold Outside. Cue the Trump Global Warming Tweet.

One 2009 study found that the United States saw roughly as many record highs as record lows in the 1950s, but b y the 2000s there were twice as many record highs as record lows. Severe cold snaps were still happening, but they were becoming less common.

“Of course it sometimes gets very cold,” said Todd D. Stern, the United States climate change envoy under President Barack Obama. “Five minutes’ worth of education would tell you that what matters are global averages, and those are going implacably up.”

Climate Change Is Complex. We’ve Got Answers to Your Questions.

We know. Global warming is daunting. So here’s a place to start: 17 often-asked questions with some straightforward answers.


Politicians have tried to use cold snaps to prove a point before. Mr. Trump’s line of reasoning recalled a February day in 2015 when Senator James Inhofe, Republican of Oklahoma, brought a snowball to the Senate floor as evidence that the Earth was not warming.

The president’s tweet also took an implicit swipe at the Paris climate accord, which Mr. Trump has vowed to abandon. In announcing that the United States would withdraw from the agreement among almost 200 nations to collectively rein in greenhouse-gas emissions, Mr. Trump lobbed a similar charge that the deal put a burden only on America.

The United States under Mr. Obama pledged $3 billion over four years to the Green Climate Fund, aimed at helping countries build resilience to extreme weather and develop clean energy. Japan has paid about $1.5 billion into the fund, Britain $1.2 billion and France and Germany about $1 billion each. Developing countries like Mexico, Chile and Indonesia also have contributed.

Mr. Trump, who once called climate change a hoax perpetuated by the Chinese, has recognized its threats where some of his properties are involved. Last week a council in Ireland gave a golf resort owned by the president approval to build two sea walls. An early application for the construction cited the threat of global warming.

Mr. Trump has made a habit of airing his climate skepticism on Twitter, posting comments on “climate change” or “global warming” more than 100 times since 2011. Thursday’s tweet appeared to be the first time he addressed the issue head-on since becoming president, however. The last time he fired off a tweet on global warming was more than two years ago, when he declared:

The climate may be changing, but some jokes stay the same.

Continue reading the main story

Fire in New York City apartment block kills 12 including four children

NEW YORK (Reuters) – Investigators in New York City searched early on Friday for the cause of a blaze that ripped through an apartment building in the Bronx and killed 12 people including four children, in the city’s deadliest fire in at least a quarter of a century.

The fire broke out a little before 7 p.m. (0000 GMT) on the first floor of a brick building and quickly spread upstairs, city Fire Commissioner Daniel Nigro told a news conference with Mayor Bill de Blasio. The cause was under investigation.

“We’re here at the scene of an unspeakable tragedy. In the middle of the holiday season is a time when families are together. Tonight, here in the Bronx, there are families that have been torn apart,” de Blasio said.

Children ages one, two and seven and an unidentified boy died in the fire along with and four men and four women, local media reported.

Four people were in hospital in critical condition “fighting for their lives,” the mayor said. Authorities said firefighters rescued 12 people from the building.

“People died on various floors of the apartment, ranging in age from 1 to over 50,” Nigro told reporters. “In a department that is surely no stranger to tragedy, we’re shocked by the lives lost.”

Two of the dead were found in a bathtub, according to cable news station NY1.

“People were screaming and that’s how we knew there was trouble,” eyewitness Kimberly Wilkins told WCBS-TV, an affiliate of CBS News. “People were screaming, ‘Fire. Help. Fire. Help.’”

The blaze erupted in the Belmont section of the Bronx, a primarily residential, close-knit neighborhood known as the “Little Italy” of the borough, adjacent to the Bronx Zoo and Fordham University.

New York is going through a bitter cold snap with temperatures in the low-teens Fahrenheit and high winds, which according to one media account, stoked flames inside the building as residents flung open doors and windows.

Wherever fire hoses sprayed, the ground was covered with sheets of ice, according to an NY1 reporter.

One witness, Rafael Gonzalez, who lives across the street from the building, told television station WCBS-TV, an affiliate of CBS News, he saw some youths on a fire escape of the burning building as the fire raged.

“What woke me up was the smoke, because I thought it was my building,” he said.

More than 160 firefighters responded to the four-alarm blaze, the New York City Fire Department said.

Pictures posted on Twitter by the fire department showed two fire trucks with aerial ladders extended to the upper floors of a brick building bathed in flood lights, and firefighters on the fire escape outside what appeared to be a second- or third-floor unit.

The number of civilian fire fatalities in New York City last year dropped to 48, the fewest in the 100 years since record-keeping began, the FDNY said on its website. Data on 2017 fire fatalities was not immediately available.

Additional reporting by Dan Whitcomb in Los Angeles and Brendan O’Brien in Milwaukee; Writing by Steve Gorman; Editing by Matthew Mpoke Bigg

Over 5 feet of snow falls in New York, Pennsylvania; cold temperatures headed to Northeast, Midwest

Over 5 feet of snow has fallen in parts of western New York and Pennsylvania in a record-breaking lake effect snow event as bitter cold temperatures are heading to the Northeast.

The airport in Erie, Pennsylvania, has had a whopping 65.1 inches of snow from this lake effect event — the highest snowfall total from any event on record in Erie. (Heavy lake effect snow is produced by cold Arctic air moving over relatively mild water temperatures in the Great Lakes.)

Now, with over 100 inches of snow in December, this has become Erie’s snowiest month on record.

PHOTO: Residents on East 24th Street dig out of a snow storm after a record two-day snowfall, Dec. 26, 2017, in Erie, Pa. Greg Wohlford/Erie Times-News via AP
Residents on East 24th Street dig out of a snow storm after a record two-day snowfall, Dec. 26, 2017, in Erie, Pa.

PHOTO: People dig out the path by their house after the record snowfall in Erie, Penn., Dec. 26, 2017, in this picture obtained from social media. Courtesy of Instagram @DANIELLESOFANCY/via Reuters
People dig out the path by their house after the record snowfall in Erie, Penn., Dec. 26, 2017, in this picture obtained from social media.

PHOTO: A record snowfall hits Erie, Pa., Dec. 27, 2017.Teo Carranza Luna/Instagram
A record snowfall hits Erie, Pa., Dec. 27, 2017.

The upstate New York town of Redfield has seen 62.2 inches of snow since Christmas Day, making it the highest two-day snowfall on record for Oswego County, New York.

A state of emergency was declared in Oswego, with the mayor saying in a statement that City Hall is closed and residents should avoid traveling and parking on city streets.

In Lorraine, New York, firefighters reported that a resident was trapped in her home after several feet of snow fell in the area.

PHOTO: A resident was trapped in her home after over 6 feet of snow fell in the Lorraine, New York, area, Dec. 27, 2017.Lorraine Volunteer Fire Company Inc.
A resident was trapped in her home after over 6 feet of snow fell in the Lorraine, New York, area, Dec. 27, 2017.

“Residents in the Town of Lorraine and Worth, please check on your neighbors,” the fire department wrote on Facebook.

PHOTO: Snow covers the street on French Settlement Road in Lorraine, New York, Dec. 27, 2017.Lorraine Volunteer Fire Company Inc.
Snow covers the street on French Settlement Road in Lorraine, New York, Dec. 27, 2017.

Lake effect storm warnings remain in effect this afternoon from east of Cleveland, Ohio, to Erie and to Fulton, New York.

PHOTO: This weather map shows lake effect storm warnings.ABC News
This weather map shows lake effect storm warnings.

An additional 2 to 4 inches of snow is likely in western New York and Pennsylvania today, which will bring snow totals to 4 to 6 feet in some areas.

PHOTO: This weather map shows snow forecast through Wednesday.ABC News
This weather map shows snow forecast through Wednesday.

The snow is expected to wind down tonight.

But bitter cold is coming to much of the country.

A major Arctic blast with frigid wind chills will move into the Northeast tonight.

PHOTO: Pedestrians walk through steam from the Berkshire Bank building on North Street during a frigid winter day, Dec. 27, 2017, in Pittsfield, Mass.Stephanie Zollshan/The Berkshire Eagle via AP
Pedestrians walk through steam from the Berkshire Bank building on North Street during a frigid winter day, Dec. 27, 2017, in Pittsfield, Mass.

In some of New England it will feel like 20 to 30 degrees below 0 Thursday morning, and it’s expected to feel like minus-33 degrees in Burlington, Vermont.

Wind chills will even be below 0 in New York City Thursday morning.

PHOTO: A frozen fountain during cold winter weather in Bryant Park, Dec. 27, 2017, in New York City.Max Golembo/ABC
A frozen fountain during cold winter weather in Bryant Park, Dec. 27, 2017, in New York City.

Wind chills are expected to stay below 0 all day Thursday across New England and only reach the single digits in New York City and Philadelphia.

The bitter cold is likely to stick around in the New Year. Another widespread and major arctic blast will move across the Midwest and East over the weekend.

Sunday morning wind chills are forecast to be minus-30 to minus-40 degrees in the Northern Plains and well below 0 degrees yet again in New England. In Washington, D.C., and New York City the wind chill will be around 0 degrees.

Putin says St. Petersburg explosion was terror attack

MOSCOW — The explosion at a supermarket in Russia’s second-largest city was a terrorist attack, President Vladimir Putin said Thursday, adding that another attack had been thwarted.

At least 13 people were injured Wednesday evening when an improvised explosive device went off at a storage area for customers’ bags at the supermarket in St. Petersburg. Investigators said the device contained 200 grams (7 ounces) of explosives and was rigged with shrapnel to cause more damage.

No one has claimed responsibility for the attack.

Putin made his comment Thursday at an awards ceremony at the Kremlin for troops who took part in Russia’s Syria campaign but did not offer any details. He also said another terrorist attack had been thwarted in St. Petersburg but did not elaborate.

Putin has portrayed Russia’s operation in Syria as a pre-emptive strike against terrorism at home. He said the threat of attacks at home would have been much worse if Russia had not intervened in Syria.

“What would have happened if those thousands (of terrorists) that I have just spoken about, hundreds of them had come back to us, trained and armed,” he said in comments to Russian news agencies.

Putin’s spokesman Dmitry Peskov would not say what led authorities to declare the attack an act of terrorism, but he said the fact that the bomb was rigged with shrapnel proved it “was a terrorist attack anyway.”

Earlier this month, Putin telephoned President Donald Trump to thank him for a CIA tip that helped thwart a series of bombings in St. Petersburg, Putin’s hometown.

The Federal Security Service said seven suspects linked to the Islamic State group were arrested in connection to the alleged plot. The Kremlin said the suspects had planned to bomb Kazan Cathedral and other crowded sites.

In April, a suicide bombing in St. Petersburg’s subway left 16 people dead and wounded more than 50. Russian authorities identified the bomber as a 22-year old Kyrgyz-born Russian national.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Tim Cook now required to fly private as AAPL’s 2017 performance nets him $102M payout

Apple today published its most recent shareholder proxy statement, outlining some interesting details about its performance in 2017. As noted by Bloomberg, Tim Cook ended the year as a big winner, netting a 74 percent bonus thanks to the company’s strong performance in fiscal 2017…


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The filing explains that Tim Cook received $9.33 million in incentive pay for the fiscal year ending September 30th. In addition to that, he received $3.06 million in salary and an equity award of $89.2 million. For the year, Cook’s total payout comes to just under $102 million.

Tim Cook has already said that he will be giving away the majority of his fortune during his lifetime in a systematic approach to philanthropy.

CFO Luca Maestri, retail VP Angela Ahrendts, hardware technologies VP Johny Srouji, hardware engineering VP Dan Riccio, and former general counsel Bruce Sewell each received bonuses of $3.11 million, for total compensation of $24.2 million each.

In fiscal 2017, AAPL shares offered returns of 30 percent, which is double the rate of the SP 500. Executives are compensated in part based on performance of AAPL in comparison to the SP 500.

Another interesting detail from Apple’s proxy statement filling is that Tim Cook is now required to fly on private aircraft. This policy was implemented in 2017 and applies to Cook’s business related and personal travel. Apple’s board of directors made the call and says the policy is “in the interests of security and efficiency based on our global profile and the highly visible nature of Mr. Cook’s role as CEO.”

Cook accrued $93,109 worth of personal travel costs in 2017, which is considered extra compensation and taxable. Furthermore, the filing says that Apple paid $224,216 in “incremental” security costs for Cook, as reported by Business Insider.

Apple’s proxy statement comes after it announced that it will hold its annual share meeting on February 13th at Steve Jobs Theater. Due to limited capacity, Apple is requiring shareholders to register for the meeting on a first-come, first-served basis on January 22nd, 2018 at 8AM PT.

Apple’s full proxy statement can be found here on the SEC’s website.


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