Tax planning

A high-ranking Internal Revenue Service official told a congressional panel that the agency is not planning to use tactics like tax liens and levies to make sure taxpayers are properly complying with the new health care reform law.

CCH has published a special report comparing the tax policies and proposals of President Barack Obama with his Republican rival Mitt Romney.

Republican presidential nominee Mitt Romney cited a group of economic studies to show that his tax-cut plan won’t increase the U.S. budget deficit or shift the tax burden to middle-income taxpayers.

Check out the digital edition of the September 2012 issue of Accounting Today.

If there’s a shortage of tax preparers for the 2014 season, it won’t be for lack of education providers.

Former President Bill Clinton delivered a scathing indictment of Republican presidential candidate Mitt Romney and vice presidential candidate Paul Ryan’s economic and tax plans to an enthusiastic crowd at the Democratic National Convention, exhorting the crowd to re-elect President Barack Obama.

Bain Capital LLC and Apollo Global Management LLC are among the private equity firms subpoenaed by New York’s attorney general in an investigation into whether they are depriving the state of tax revenue, according to two people familiar with the matter.

College students and their families could save up to $2,500 a year if they save receipts for necessary expenses such as textbooks and other course materials.

CFOs at multinational companies are beginning to change their minds about using tax policy as a way out of the economic doldrums.

Unprecendented levels of uncertainty wreak havoc on year-end planning

California’s State Board of Equalization is warning that beginning Sept. 15, a new law will take effect expanding the types of out-of-state retailers who are required to register with the board and requires them to begin collecting and remitting use tax on sales of tangible personal property to California consumers.

Republican presidential nominee Mitt Romney told an enthusiastic Republican National Convention that unlike his rival Barack Obama, he would not raise taxes on small businesses or the middle class.

Global CEOs and U.S. small business owners would like political leaders and candidates for office to focus more on tax reform, regulation, the size of government and entitlements, and the national debt in order to stimulate economic growth and job creation, according to a new report.

The Senate Finance Committee has released the legislative text of the tax extenders bill, spelling out the reasons for extending certain tax breaks or for letting them expire, along with dissenting views from a trio of senators.

Republicans are pitching their tax overhaul plan on the appeal of lower rates and a simpler system—and figuring that voters won’t mind the lack of details about the potential pain.

Thomson Reuters has posted a new series of blog articles for users of its UltraTax CS software with advice on how they can take advantage of the software’s data mining features to help their clients navigate the possible tax law changes coming next year.

Republican presidential candidate Mitt Romney and his wife, Ann, have used sophisticated estate- planning techniques for more than a decade to minimize taxes and amass at least $100 million for their family outside of their estate.

Three Republicans from the House Committee on Oversight and Government have written a letter to IRS Commissioner Doug Shulman demanding he explain a recent rule that would extend tax credits to individuals who buy health insurance from an exchange set up by the federal government when their state has failed to set up such an exchange.

The Tax Court has applied the “self-rental rule” to recharacterize the income that the taxpayer-owner of a trucking company received from a separate leasing company that he owned as nonpassive income.

Rep. Paul Ryan, R-Wis., Mitt Romney’s choice as vice presidential running mate, said he planned to release two years of tax returns to the public, even though he submitted several more years of tax returns to the Romney campaign during the vetting process.