Tax practice

House Ways and Means Committee Chairman Sander Levin, D-Michh., has released a draft bill that would provide tax credits for manufacturers of renewable energy equipment and funding for other sources of clean energy.

The District of Columbia plans to launch a tax amnesty program on Thursday in an effort to collect $170 million in known receivables owed by more than 42,000 individuals and businesses.

Senate Finance Committee ranking member Charles Grassley, R-Iowa, and Sen. Charles Schumer, D-N.Y., have teamed up to sponsor legislation that would provide tax credits for the use of hydrogen fuel cells in forklift trucks and other industrial vehicles.

Small nonprofit organizations that are at risk of losing their tax-exempt status because they failed to file the required returns for 2007, 2008 and 2009 can preserve their status by filing the returns by Oct. 15, 2010, under a one-time special relief program.

Of the 131 changes in state and local taxes last quarter, 91.6 percent were either tax increases or new taxes, according to a new report.

Two Republican lawmakers are warning the Treasury Department against making a change in tax policy that would favor trial lawyers who handle lawsuits on a contingency basis and want to deduct loans to clients.

BNA Tax & Accounting has introduced its first application for the RIM BlackBerry, an electronic version of its Quick Tax Reference guide.

The nonprofit Tax Foundation has introduced an online calculator that allows taxpayers to compare how they would fare if all the Bush tax cuts expired as scheduled at the end of this year.

Rep. Charles Rangel, D-N.Y., former chairman of the tax-writing House Ways and Means Committee, will face a trial before his congressional colleagues after a House investigative panel found that he violated ethics rules.

Call this a story about nurturing the goose that laid the golden egg.

President Obama signed a law Thursday that aims to bar payments to federal contractors that haven’t paid their taxes and to make sure that payments go out in the correct amounts to the right people.

The Internal Revenue Service released proposed regulations on Thursday that would establish a $50 fee for individuals who apply for a preparer tax identification number.

The House passed the Senate version of the unemployment extension on Thursday, sending the bill to President Obama for his signature.

The Internal Revenue Service plans to check more often for accuracy-related penalties in future correspondence audits with taxpayers.

Hoping to get the Small Business Jobs Act passed before the August recess, Senate Democrats have modified the legislation in an effort to avoid another filibuster battle.

The Senate approved an extension on employment benefits on Wednesday evening, with the House poised to pass the extension on Thursday.

A California man has been indicted by a Las Vegas grand jury for filing false liens against employees of the Internal Revenue Service, the Securities and Exchange Commission, the Secret Service and the U.S. Attorney’s Office for the Southern District of California.

President Obama has signed the sweeping financial regulatory reform bill into law after a year of pushing the legislation through Congress.

John Venuti, a 62-year-old tax consultant, former principal at KPMG and former IRS tax specialist, has pleaded guilty to failing to file his tax returns for six years.

Senate Democrats achieved their goal of reaching 60 votes to invoke cloture on a bill to extend unemployment benefits through the end of November, ending a Republican filibuster.