Hazel Blears Blears had been claiming MPs' second home expenses relating to the flat. She had made a £45,000 profit on its sale without paying capital gains tax. On 12 May she volunteered to pay the £13,332 capital gains tax she had avoided on the sale of her second home. It was subsequently claimed that Gordon Brown had ordered her to repay the sum. In Salford she was met by a number of angry protesters and stayed in a local hotel rather than at home. Following an investigation by Sir Thomas Legg, Blears was told to repay £225 in expenses in relation
Capital gains tax in the United States if there is a portion of the ownership period in which the home was not the principal residence of the taxpayer, spouse, or ex-spouse. Taxpayers can defer capital gains taxes to a future tax year using the following strategies: In 2011, President Barack Obama signed Executive Order 13531 establishing the National Commission on Fiscal Responsibility and Reform (the "Simpson-Bowles Commission") to identify "policies to improve the fiscal situation in the medium term and to achieve fiscal sustainability over the long run". The Commission's final report took the same approach as the 1986 reform: eliminate the preferential tax rate for long-term