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Tax Planning
Editors' Picks
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Tax Strategies for IRA Owners Affected by the Market
The sharp stock market decline we've experienced has no immediate tax effect on pre-retirement-age taxpayers who invested their traditional IRAs or Roth IRAs in stocks and mutual funds, since losses as well as gains are not recognized within either type of IRA. Read more
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Jobs Bill Entails More Foreign Bank Income Reporting
March 18, 2010The jobs bill signed by President Obama on Thursday includes various revenue-raising provisions that would put foreign financial institutions with U.S. taxpayers under a new reporting and tax regime.
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House Committee Passes Small Business Tax Cut Bill
March 17, 2010The House Ways and Means Committee has approved legislation to provide tax relief to small businesses and extend financing measures for creating jobs.
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House Drafts Small Business Jobs Tax Bill
March 16, 2010House Ways and Means Committee Chairman Sander Levin, D-Mich., has unveiled a draft of a new bill that would provide tax incentives to small businesses to spur job creation.
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Tax Day Renamed Cyber Tax Day (Unofficially)
March 15, 2010April 15 is normally referred to as Tax Day, but one man wants to change that.
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Congressman Introduces Bill to Expand R&D Tax Credit
March 15, 2010Rep. Rush Holt, D-N.J., has introduced legislation to encourage small business investment and job creation by expanding the research and development tax credit.
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TAX NEWS
March 15, 2010Obama proposes small-biz tax cut; GAO cites problems with S corp tax compliance
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Budget aims to boost jobs, economy
March 15, 2010Despite its significant tax increases, President Obama's 2011 $3.8 trillion budget plan contains a number of revenue provisions calculated to encourage business expansion and move the economy upward.
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Amazon Dumps Colorado Sites in Response to Tax
March 10, 2010Amazon.com has cut off its affiliates in Colorado in response to a new law that requires Web retailers to send a statement to their customers every year of how much tax they should be paying on their purchases.
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AMT Fix, Tax Extenders Could Add $3 Trillion to Debt
March 8, 2010The Congressional Budget Office has released an estimate of the budgetary effects of President Obamas proposed budget for fiscal year 2011 and found that some of the tax cuts could add another $3 trillion to the national debt over the next 10 years.
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Tax Consequences of FBAR Filings
March 2, 2010To gather information for law enforcement, particularly drugs and organized crime, Congress has long required U.S. persons owning or having signatory authority over foreign financial accounts to file a report with the Department of the Treasury disclosing information about the accounts.
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Senate Introduces Unemployment and Tax Extenders Bill
March 1, 2010Senate Democrats have introduced legislation to extend unemployment benefits, a 65 percent subsidy for COBRA health insurance for the unemployed, and a large set of tax breaks that expired at the end of last year.
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Jobs Bill May Not Pack a Big Enough Punch
February 26, 2010The Senates latest stimulus effort, a jobs bill named the Hiring Incentives to Restore Employment Act, passed this week with a 70 to 28 margin.
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Liberty Tax Sees Gains This Tax Season
February 25, 2010Liberty Tax Service has reported a 10.2 percent increase in the total number of tax returns filed as of Feb. 15, 2010, and a 28.1 percent increase in revenue generated, a marked contrast with rival H&R Block.
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Senate Mulls Taxes and Small Business Job Creation
February 25, 2010The Senate Finance Committee held a hearing to discuss trade and tax issues relating to small business job creation.
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Senators Introduce Bipartisan Tax Simplification Bill
February 24, 2010Sen. Ron Wyden, D-Ore., and Judd Gregg, R-N.H., have introduced legislation to eliminate many of the exemptions, deductions, credits and other tax breaks in the Tax Code.
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States Contemplate Drastic Tax Hikes
February 24, 2010Lacking Congress ability to address problems with deficit spending, financially squeezed state legislatures across the country are considering desperate tax increases that would have been politically unthinkable just a few years ago.
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Senate Passes Job Creation Bill
February 24, 2010The Senate approved a job creation bill Wednesday after 13 Republicans agreed to vote for the measure, which includes tax breaks for businesses that hire or retain employees.
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Obama Presents Unified Health Care Legislation
February 22, 2010The White House has published the health care reform package that President Obama plans to present to Republican and Democratic congressional leaders at the summit on Thursday.
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Treasury Hopes to Expand New Markets Tax Credit
February 19, 2010The Treasury Department announced plans to extend and expand the New Markets Tax Credit with a proposal in the fiscal year 2011 budget to provide $5 billion in credits to speed recovery in hard-hit communities.
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Execs Concerned about U.S. International Tax Policy
February 16, 2010U.S. taxation of international operations was named as the top business tax concern in 2010, according to a poll of senior tax executives at multinational companies and trade associations.
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New reporting rules for passive activities force group decisions
February 15, 2010As part of the IRS's continuing efforts to require greater disclosure of tax positions and strategies on returns, it recently released new, mandatory disclosure rules for grouping passive activities.
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Tax credits for college credits
February 15, 2010Tax strategies lighten college tuition burden - to a point
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Discovering tax, and themselves
February 15, 2010The fourth year of Ernst & Young's Discover Tax Leadership Conference drew 102 minority college students from all over the country to New York (braving the cold) to learn about tax - and themselves.
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Senator Proposes Alternative Bill to Tax Bonuses
February 12, 2010Sen. Sherrod Brown, D-Ohio, has introduced a bill that would tax more Wall Street bonuses than similar legislation introduced a week ago.
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Reid Scales Back Senate Jobs Bill
February 12, 2010Senate Majority Leader Harry Reid, D-Nev., has unveiled a stripped-down version of the draft jobs legislation that was proposed only hours earlier by the bipartisan leaders of the Senate Finance Committee.
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Senate Releases Draft of Jobs Bill
February 11, 2010Senate Finance Committee leaders publicly released a draft Thursday of the widely anticipated jobs bill they plan to introduce, including payroll tax provisions and the extension of a number of tax breaks that expired last year.
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Senate Passes Bill to Fix Small Biz Tax Penalties
February 10, 2010The Senate has unanimously approved a bill that would prevent small businesses from incurring large tax penalties aimed at large corporations and wealthy individuals who invest in tax shelters.
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Senate Democrats Jobs Bill Includes Tax Breaks
February 10, 2010Senate Democrats have begun circulating a draft version of the jobs bill they plan to introduce, with a series of tax breaks and tax extenders designed to lure Republican support.
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Robin Hood Tax Targets Bank Transactions
February 10, 2010A coalition of charities, aid groups, unions, and movie actors and directors has launched a campaign calling for a global 0.05 percent tax on banks speculative financial transactions, with the proceeds going to combat poverty and climate change.
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Senators Propose Tax on Wall Street Bonuses
February 5, 2010Sen. Barbara Boxer, D-Calif., and Jim Webb, D-Va., have introduced legislation that would impose a tax on large bonuses paid by Wall Street banks and other firms that received more than $5 billion from the Troubled Asset Relief Program in 2009.
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Obamas Budget Plan Is More Like a Wish List
February 5, 2010Despite its massive tax increases, the Presidents 2011 Budget Plan contains a number of revenue provisions calculated to encourage business expansion and move the economy upward.
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U.S. Inks Tax Treaty with Chile
February 4, 2010Treasury Secretary Tim Geithner and Chilean Finance Minister Andrés Velasco signed a new income tax treaty between the United States and Chile to provide certainty and stability of tax treatment for U.S. and Chilean cross-border investors.
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U.S. Signs Income Tax Treaty with Hungary
February 4, 2010The United States and Hungary have signed a new income tax treaty that brings an existing agreement signed by the two countries in 1979 into closer conformity with current U.S. international tax policy.
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Googles Irrationally Exuberant Tax Strategy
February 1, 2010Google has contrived a convoluted way to determine its income tax responsibilities to the U.S. and other taxing jurisdictions, in part by shifting income to its operations in Ireland.
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The Tax Implications of the State of the Union: Podcast
January 28, 2010AICPA vice president of taxation Tom Ochsenschlager discusses the likely tax law implications of President Obama's State of the Union speech with Accounting Today editor Roger Russell.
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Governments to Share More Transfer Pricing Data
January 27, 2010A new report from BNA Tax & Accounting on transfer pricing predicts that tax authorities in different countries will continue to closely scrutinize intercompany transactions across national borders and will begin simultaneous audits of several large companies intercompany prices this year.
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CPA Guide to Sales and Use Tax Released
January 27, 2010A free guide for CPAs to sales and use tax has been released by sales tax technology provider SpeedTax.
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Obama Calls for Expanding Middle-Class Tax Benefits
January 26, 2010President Barack Obama and Vice President Joe Biden previewed some of the major themes in the presidents upcoming State of the Union address, including a proposal to increase some tax credits for middle-class families.
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Swiss Court Nixes UBS Tax Deals
January 25, 2010Switzerlands Federal Administrative Court has ruled that the agreement for UBS to disclose the identities of 4,450 U.S.-based taxpayers to the IRS violates the countrys banking secrecy laws.
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CPA Firm Develops Charitable Donation iPhone App
January 25, 2010BMG CPAs LLP has created iDonatedIt, an iPhone and iPod Touch application that calculates, tracks, and reports non-cash charitable donations.
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Liberty Picks Non-Celebrity Pitchman for Online Tax Service
January 22, 2010Liberty Tax Service has taken a cue from the Subway sandwich shop chain and hired a Jared-like customer as the official spokesman for its eSmartTax.com online tax prep service.
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Watch Out for More State and Local Taxes
January 22, 2010The effects of the economic downturn have been particularly hard on states, which will make life interesting in the year ahead for firms that sell services in the state and local tax area.
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Grant Thornton Expects Further State Budget Pain
January 20, 2010Grant Thornton anticipates state budgets will remain under pressure this year even if the economy improves.
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Haiti Donations Could Be Deductible This Tax Season
January 20, 2010The devastating earthquake in Haiti last week is spurring relief efforts from countries around the world, but the U.S. is playing a key role in providing both help and security, along with much-needed funds.
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CF&W Seals Pact to Boost Global Tax Services
January 19, 2010Calvetti, Ferguson & Wagner, P.C., a CPA and business advisory firm specializing in tax, audit and advisory solutions, sealed a partnership with global transactional concern Verse Consulting that will bolster its international tax offerings to mid-market companies.
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Lawmakers Propose Bill to Speed Haiti Tax Deductions
January 17, 2010A bipartisan group of lawmakers in Congress plan to introduce legislation that would allow individuals who make charitable contributions to help victims of the earthquake in Haiti to claim an itemized charitable deduction on their tax return this year instead of waiting until next year.
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Lawmakers Call for Wall Street Bonus Tax
January 15, 2010As Wall Street firms prepare to hand out record levels of bonuses, a group of lawmakers on Capitol Hill have co-sponsored a bill that would slap a 50 percent tax on many of the bonuses.
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Democrats Reach Deal with Labor on Health Taxes
January 15, 2010The White House has reportedly cemented a deal with labor union leaders scaling back the tax on so-called Cadillac health insurance plans.
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Tax Preparer Testing May Discourage Registration
January 15, 2010Although most observers are on board with the new proposals to register, test and license tax return preparers, some questions about the goals and the process remain.
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Jackson Hewitt RAL Program Remains Underfunded
January 14, 2010Jackson Hewitt Tax Service warned in a regulatory filing that it only has enough funding to cover 50 percent of the refund anticipation loans it anticipates making this tax season.
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H&R Block Opens Times Square Flagship
January 14, 2010Tax prep chain H&R Block opened a new flagship office in Times Square on Thursday, complete with a giant smart wall where clients can be guided through an interactive tax experience.
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Tax Strategy: The expanded and extended homebuyer credit
January 11, 2010Changes could make more taxpayers eligible
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New York exempts all CPAs from tax preparer registration
January 11, 2010Bill signed into law gives CPAs a pass
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From tax preparers to tax prognosticators
January 11, 2010The economic crisis and the downfall of the real estate market spurred a slew of tax law changes that will impact the upcoming filing season.
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Compliance tops list of IRS concerns for 2010
January 11, 2010Tax return preparers who claim inflated personal or business expenses, false deductions, unallowable credits or excessive exemptions on returns prepared for their clients are a major concern for the Internal Revenue Service during the upcoming filing season, according to a spokesman for the service.
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No crystal ball needed
January 11, 2010While the shape of tax policy remains uncertain in some areas - at press time, Congress was considering a wide range of tax bills, including changes to the estate tax regime, and the extension of a number of tax credits and deductions, among other things - there are a few areas of certainty.
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TAX NEWS
January 11, 2010House approves 45% estate tax extension; thousands disclose foreign accounts; millions may owe under Making Work Pay.
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Taxing times call for more than tax prep
January 11, 2010Financial planning is natural outgrowth in client service
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Obama Awards $2.3B in Tax Credits to Spur Jobs
January 8, 2010The Obama administration is handing out $2.3 billion in Recovery Act Advanced Energy Manufacturing Tax Credits for clean energy projects to provide jobs across the U.S. after announcing a disappointing employment report for December.
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OO Decade or Eww Decade?
January 6, 2010Call it what you like, but the first decade of the millennium has passed with many a whimper.
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Kansas May Need 16 Weeks to Refund Paper Tax Filings
January 5, 2010The Kansas Department of Revenue warned that it may take up to 16 weeks to process state tax returns filed on paper as the state copes with budget cuts.
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Jackson Hewitt Strikes RAL Deal with Republic
January 4, 2010Jackson Hewitt has signed an amended agreement with Republic Bank & Trust to act as a partner for refund anticipation loans after the tax prep chains previous partner, Santa Barbara Bank & Trust, was forced to stop providing RALs.
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U.S. Amends Income Tax Treaty with France
December 29, 2009The Treasury Department said a new protocol amending the income tax treaty with France has entered into force.
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Jackson Hewitt in RAL Trouble from Bank Partner
December 28, 2009The bank that Jackson Hewitt Tax Service uses to process and administer its refund anticipation loans will not be in a position to originate RALs for the 2010 tax season, according to the company.
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Eisner Offers Tax Guide for Amazon Kindle
December 24, 2009Accounting firm Eisner LLP has introduced its 2010 Personal Tax Guide, which is available on the firms Web site and as a download to the Amazon Kindle e-reader.
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Senate Plans Action on Tax Extenders
December 23, 2009Leaders of the Senate Finance Committee said they intend to work on passing legislation to extend expiring tax breaks early next year.
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Spray on the Tanning Tax
December 23, 2009The Senates brand-new 10 percent tax on indoor tanning services is bound to lead to some further creative thinking about how to generate extra revenue to cover the costs of health care reform.
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Estate Tax Dilemma Looms in 2010
December 22, 2009For at least the first few days of 2010, and probably longer, executors of the estates of people dying after Dec. 31, 2009, will be operating in a difficult environment after the Senates failure to extend the estate tax at its current rates, according to a new report.
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Health Care Bill Taxes Tanning Salons
December 21, 2009The Senate overcame a key procedural hurdle early Monday morning on the arduous journey to approving health care reform legislation with a 1:00 am vote approving an amendment by Senate Majority Leader Harry Reid, D-Nev., that made changes to secure the 60 votes needed to end a filibuster.
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Paychex Offers Year-End Payroll Tax Resources
December 21, 2009Payroll services provider Paychex has published four online tax resources for CPAs and small businesses free of charge on its Web site.
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CCH Releases CompleteTax Online Tax Software
December 21, 2009CCH has released the latest version of its online consumer tax preparation software, CompleteTax.
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House Approves Jobs Bill
December 18, 2009The House narrowly passed a jobs bill aimed at reducing unemployment, but the legislations prospects are uncertain in the Senate.
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Get Clients Ready for 2010
December 18, 2009Economic uncertainty, coupled with the possibility of higher tax rates, has driven taxpayers to seek more face time with their accountants.
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At Long Last, U.S.-Italy Tax Treaty Is Here
December 17, 2009An income tax treaty between the United States and Italy has taken effect after a decade-long delay.
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The IRS War Against Real Estate Investors
December 17, 2009The IRS is conducting a sweep of real estate investors that challenges deductions investors have been taking as a routine part of business for years.
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The Paperless AuditIt's Not Just About Saving Paper
December 15, 2009Everyone knows that reducing paper can save your business money. What you may not know is how the paperless model can increase your firm's efficiency and improve your data management processes.
During this timely web seminar, industry experts Mike Ritchie and Patrick Manosca of CCH will share:
- How the paperless revolution is changing the industry
- The benefits and risks of going paperless
- What a paperless audit looks like
SourceMedia Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Nashville, TN, 37219-2417 or by visiting the web site: www.nasba.org.
To receive credit, you must be in attendance for the complete session and answer any polling questions during the session. Qualified attendees will receive evaluation forms within 3 business days of the seminar. Complete the evaluation form, keep a copy for yourself and email to CPE@WebCPA.com or fax to (646) 264-6830. Once the evaluation form is received your CPE certificate will be emailed to you within 5 business days.
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CCH Offers Analysis of House Tax Extenders Bill
December 15, 2009CCH has issued a Special Tax Briefing on the Tax Extenders Act of 2009 that was approved this month by the House.
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Boomer's Blueprint: The future of tax preparation
December 14, 2009On my first trip to India over six years ago, I witnessed innovative tax return processing strategies.
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VATs come in from the cold
December 14, 2009Rising deficits and spending boost interest in value-added taxes
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Tax practitioners brace for 2009 season
December 14, 2009The economy - and the legislative response - are top of mind for practitioners and clients
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Quirky Sales Tax Laws of 2009
December 11, 2009The past year saw a number of unusual sales and use tax laws enacted in a number of states.
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VAT is Coming to the U.S.
December 11, 2009The prospect of the enactment of a value-added tax in the United States is getting closer five years and counting, according to a Tax Governance Institute survey.
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Obama Proposes Tax Cuts to Spur Hiring
December 8, 2009President Obama described a series of proposals aimed at encouraging companies to add more jobs, including tax cuts for small businesses.
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Grassley Proposes Expanding Education Tax Relief
December 8, 2009Senate Finance Committee ranking member Charles Grassley, R-Iowa, has introduced a bill that would make permanent a number of education-related tax relief measures dating back to 2001, when he was committee chairman, and increase others.
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Research Tax Credit Skewed Toward Big Companies
December 8, 2009Large corporations have dominated the use of the research tax credit, with 549 corporations with receipts of $1 billion or more claiming over half of the $6 billion of net credits in 2005, the most recent year available, according to a new study by the Government Accountability Office.
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Lambert Boyce Podcast
December 7, 2009Clifton Gunderson partner discusses several expiring tax breaks that businesses and individuals should take advantage of while they still have time.
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Senior Execs Foresee Value-Added Tax in U.S.
December 4, 2009Fifty-seven percent of the senior business executives surveyed by KPMGs Tax Governance Institute expect some type of value-added tax to be introduced in the U.S. within five years, and 18 percent anticipate a VAT within 10 years.
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Democrats Propose Securities Transaction Tax
December 3, 2009A group of Democratic lawmakers has introduced legislation that would impose a tax on Wall Street securities transactions.
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White House Mulls Tax Credits for Jobs
December 3, 2009The White House convened a jobs summit in which President Obama heard from business and union leaders about various proposals for reducing unemployment, including tax incentives for job creation.
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House Approves 45 Percent Estate Tax Extension
December 3, 2009The House voted to set the inheritance tax at 45 percent permanently for estates larger than $3.5 million.
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Senate Bill Would Cement Small-Biz Expensing Limit
December 3, 2009Leaders of the Senate Committee on Small Business and Entrepreneurship have introduced legislation that would make permanent the $250,000 Section 179 expensing limits for small businesses created under the Recovery Act.
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Many Business Tax Deductions May Be Going Away
December 2, 2009Businesses will have to act soon on a bevy of tax breaks before they expire at the end of the year.
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Pharma Companies Anticipate Higher Taxes
December 1, 2009Senior executives from pharmaceutical, biotech and medical device companies expect to pay higher tax rates in the years ahead, according to a new survey by PricewaterhouseCoopers.
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Volcker Delays Tax Reform Task Force Report
November 30, 2009The tax subcommittee of the Presidents Economic Recovery Advisory Board has decided to postpone its report outlining tax reform plans for the White House after being inundated with suggestions.
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Do We Need an Afghanistan War Tax?
November 25, 2009A group of Democratic lawmakers has introduced a bill that would impose a temporary war surtax beginning in 2011 to pay for the war in Afghanistan.
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Homebuyer Tax Credit Spurs Home Sales in October
November 24, 2009The First-Time Homebuyer Tax Credit helped spur a 10.1 percent jump in sales of existing homes in October.
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CCH and Grant Thornton Create IFRS Tax Guide
November 23, 2009CCH and Grant Thornton have teamed up to produce IFRS Tax Manager, an online guide to International Financial Reporting Standards, aimed at helping tax, audit and accounting professionals comply with tax accounting and reporting standards under IFRS.
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CCH Ships 2009 ATX and TaxWise Software
November 23, 2009CCH Small Firm Services has begun shipping its ATX and TaxWise lines of software for tax year 2009, with links to tax research from CCH.
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Last-Minute Business-Planning Tips
November 20, 2009Its getting near the end of the year, and tis the season to be compiling lists.
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Senate Health Bill Contains Tax on Cosmetic Surgery
November 19, 2009Senate Majority Leader Harry Reid, D-Nev., introduced the Senates version of the health care reform bill, which includes a new 5 percent tax on elective cosmetic surgery.
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Discover New Innovations in Tax Prep
November 17, 2009Software as a Service (SaaS) has become popular in today's business environment. But what exactly does SaaS mean and how can it play an integral part in your operation? After completing the session, you will be able to:
- Recognize the significance of SaaS in an increasingly complex world.
- Build your practice become more efficient and profitable.
- Identify ways to improve workflow and your bottom line.
Don't miss this chance to learn more about a tool that can help your practice be more successful!
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Thomson to Acquire Sabrix
November 16, 2009In a move designed to bolster its global transaction tax offerings, Thomson Reuters Tax & Accounting has agreed to acquire San Ramon, Calif.-based Sabrix, a provider of tax transaction software, for an undisclosed amount.
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TAX STRATEGY: Developments in limited liability companies
November 16, 2009Limited liability companies continue to grow in popularity as a choice of business entity.
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Low inflation eases tax bracket changes
November 16, 2009Tax rate brackets and various tax benefits will remain unchanged or change only slightly in 2010 due to low inflation, and many pension plan limitations will remain unchanged, according to the Internal Revenue Service.
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New tools to help clients wake up from the sales and use tax nightmare
November 16, 2009Software systems for handling sales and use tax are better - and more important to your clients - than ever
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Obama Proposes Jobs Summit
November 13, 2009President Barack Obama said Thursday he plans to hold a forum in December at the White House on jobs and economic growth.
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Playing Hide and Seek with the Estate Tax
November 13, 2009Although I wasnt born with a silver spoon in my mouth, and I would have to get very lucky very soon to be concerned with the estate tax rate, it has always seemed an unfair proposition to tax a person or business when it is most vulnerable.
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CCH Enhances Business Entity Planning Library
November 11, 2009CCH has added Smart Charts, checklists and decision trees to its Business Entity Planning Library to provide further guidance to tax practitioners analyzing and comparing the entities used by small- and midsized businesses.
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Tax Authorities Demand Transfer Pricing Evidence
November 11, 2009Government tax authorities around the world are requiring multinational companies to provide more documentation to support their transfer pricing strategies as countries seek additional tax revenue.
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House Passes Health Care Reform
November 9, 2009The House voted to approve health care reform, moving the legislation now to an uncertain outcome in the Senate.
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Obama Signs Homebuyer Tax Credit Extension
November 9, 2009President Barack Obama has signed the extension of the First-Time Homebuyer Tax Credit, along with an extension of unemployment benefits.
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Senate Extends Homebuyer Tax Credit
November 4, 2009The Senate voted by a 98-0 margin to extend the First-Time Homebuyer Tax Credit while also expanding the credit to existing homeowners who want to move to another residence.
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Lee Zoeller
November 3, 2009The president of the Institute for Professionals in Taxation sees state and local taxes going up, up, up.
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Sneak preview: Tax tools for 2010
November 2, 2009Vendors focus on workflow and the Web, as tax pros wait to see if taxpayers will return
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Putting losses into the right baskets
November 2, 2009During the downturn, many practitioners have found it necessary to brush up on the loss-deduction rules.
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Vertex Launches Certification Program
October 30, 2009Vertex has announced an online certification program through which continuing professional education credits can be earned.
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House Assembles $894 Billion Health Care Bill
October 30, 2009House Democrats unveiled their health care reform package after assembling the various components passed this summer by three separate committees.
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Geithner Urges Extension of Homebuyer Credit
October 29, 2009Treasury Secretary Tim Geithner and Housing and Urban Development Secretary Shaun Donovan have called on Congress to extend the First-Time Homebuyers Tax Credit past its Dec. 1 expiration date, while putting in place strong anti-fraud measures.
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IRS Advisory Committee Issues Recommendations
October 28, 2009The IRSs Information Reporting Program Advisory Committee has released a report outlining recommendations on a wide range of tax administration issues, including creating new forms and instructions, and reporting of a customers basis in securities transactions.
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IRS Steps Up Enforcement on the Rich
October 28, 2009IRS Commissioner Doug Shulman had some news for CPAs gathered to hear him speak at an AICPA conference on Monday: high-income individuals are going to be in the agencys cross-hairs now.
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Congress Clamps Down on Foreign Tax Evasion
October 27, 2009Democratic leaders of key House and Senate committees have introduced legislation to force foreign financial institutions, trusts and corporations to provide information about their U.S. account holders, grantors and owners.
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Patently Indefensible
October 23, 2009If someone said to me a decade ago that the ideas that tax planners use, some on a daily basis, might be violating a patent, I would have dismissed it as crazy talk.
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KPMG Sees Possibility of Federal VAT
October 22, 2009A new study by KPMG has found more governments worldwide imposing value-added taxes and goods and services taxes to make up for declining revenue from other sources, and warns the U.S. may follow suit.
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Out with the Old, In with the New
October 22, 2009Recent conversations in the nonprofit world increasingly surround 'good governance' within nonprofit organizations.
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More Companies Hit with Tax Audits
October 21, 2009Eighty-three percent of companies have experienced an increased number of audits due to state and local tax revenue shortfalls, according to a new survey.
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CCH Adds SmartCharts for Tax Cross-References
October 20, 2009CCH has introduced IRC/Multistate Personal and Corporate Income Tax Comparison Smart Charts on its CCH IntelliConnect Research Service.
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Carried Interest Reform: Not So Fast
October 16, 2009For those who question the relationship between shortsighted tax policy and the economy, consider the possible consequences of taxing carried interest.
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Senate Finance Committee Passes Health Reform Bill
October 13, 2009The Senate Finance Committee has approved its long-awaited version of the health care reform bill by a 14-9 vote.
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Whats Ahead for LIFO?
October 9, 2009There continue to be rumblings that Congress may repeal the LIFO accounting method for inventory.
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Provision as a Process
October 2, 2009Today, more than three years since it was issued, FIN48 remains the bane of many tax departments existence.
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AICPA Objects to Burdensome Budget Requirements
September 25, 2009Among the revenue proposals detailed in the administrations fiscal 2010 budget are some provisions that might negatively affect small businesses and tax preparers.
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New Jersey Has Least Friendly Business Taxes
September 23, 2009New Jersey ranks at the bottom of the list in a new study of the comparative business friendliness of tax systems in the 50 states, while South Dakota is counted as most business friendly.
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IRS to Require 1040 E-filing by Tax Preparers
September 22, 2009The Treasury Departments Inspector General for Tax Administration has released a report recommending that the IRS seek mandatory electronic filing of individual tax returns by paid preparers, and legislation is being readied to write such a requirement into law.
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Minnesota Ends Tax Reciprocity with Wisconsin
September 21, 2009The State of Minnesota has decided to end its income tax reciprocity program with Wisconsin, effective Jan. 1, 2010.
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The Role of Form 5471 in Tax Planning and Compliance for U.S.-Owned Foreign Corporations
September 21, 2009Published: June 23, 2009
Published by: Lorman Education Services -
J.K. Lasser's Real Estate Investory Tax Edge
September 21, 2009Published: November 2009
Published by: Wiley
Author: Estill
FREE SHIPPING -
Bilingual Tax Software Released
September 18, 2009New America Software has formally released its MultiTax software for download after about a year of beta testing with various tax preparation businesses.
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CCH Provides Info on Low-Tax Countries
September 15, 2009CCH has introduced a new research product with up-to-date information on 20 jurisdictions that offer low tax rates.
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Thomson Reuters to Buy Deloittes Abacus Business
September 14, 2009Thomson Reuters Tax & Accounting business plans to acquire Deloitte LLPs Abacus Enterprise suite of tax software products.
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CCH Intros European Tax Rate Service
September 8, 2009CCH has expanded its lineup of global tax products with Worldwide Tax Rates and Answers: Individuals, an online tax compliance and research service that covers the European Union.
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H&R Block Q1 Net Loss Widens
September 4, 2009H&R Block reported a consolidated net loss for the first quarter of $133.6 million, or 40 cents a share, with much of the loss attributed to tax operations.
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Current Issues in Attributional and Agency Nexus
September 3, 2009Published: August 4, 2009
Published by: Lorman Education Services -
Maybe We Need Cash for Clunker Tax Returns
September 2, 2009The government is about to start offering a Cash for Clunkers type of program for old inefficient appliances this fall, so why not cash for clunker tax returns and financial statements?
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Environmental Taxes No Panacea, Says ACCA
August 25, 2009The use of carbon taxes and other forms of green taxation to improve the environment and raise government revenue requires careful planning, recommends a position paper from the Association of Chartered Certified Accountants.
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Treasury to Award Tax Credits for Clean Energy
August 13, 2009The Treasury and Energy Departments plan to give $2.3 billion in tax credits from the Recovery Act to manufacturers of clean energy equipment.
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State Tax Apportionment Software Introduced
August 10, 2009The Tax & Accounting business of Thomson Reuters has released ONESOURCE State Apportionment software, a product that aims to streamline state income tax apportionment processes for corporate tax professionals.
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CCH Improves Tax Zone Locator
August 7, 2009CCH has enhanced its Tax Zone Locator service to make it easier for tax professionals to track down and obtain location-based tax credits and incentives for clients.
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GASB takes aim at sustainability
Deficit worries prompt focus on economic condition reporting
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IRS Employees Rescued Each Other After Plane Crash
IRS workers demonstrated bravery in helping each other escape from a burning building after a deranged pilot crashed his plane into their facility in Austin, Texas, last month.
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Technology's Role in Winning Back Investor Confidence
Today's investors are understandably anxious, with continued market volatility and the waning performance of their retirement and college savings accounts.
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