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The 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.
February 22 -
New York States budget deficit and dysfunctional legislative process may prompt the government to withhold state income tax refunds, according to embattled Governor David Paterson.
February 19 -
The 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.
February 19 -
The Internal Revenue Service reminded taxpayers that the Feb. 28 deadline is fast approaching for Haiti earthquake relief donations that can be deducted this tax season.
February 19 -
Former New York City police commissioner Bernard Kerik, who led the police department during the 9/11 attack, was sentenced to a four-year prison sentence after pleading guilty to tax fraud and other charges.
February 18 -
A man angry with the Internal Revenue Service flew a small airplane into a building on Thursday morning in Austin, Texas, in which several IRS offices are located, killing an IRS employee and himself.
February 18 -
Taxpayers overwhelmingly agree with the Internal Revenue Services plans to require tax preparers to meet competency and ethical standards, according to a new report by the IRS Oversight Board.
February 17 -
A Virginia doctor has pleaded guilty to conspiracy involving an undeclared Swiss bank account reportedly at HSBC, indicating that investigators are widening their probe of secret Swiss bank accounts beyond UBS.
February 17 -
U.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.
February 16 -
As 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. Rev. Proc. 2010-13 for the first time mandates that passive-activity groupings and regrouping, as required under Code Sec. 469 regulations, be disclosed on the taxpayer's return.
February 15 -
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Preparing for your first tax season can be a challenging task. While most have the technical knowledge to do the work, they often lack the confidence that experience provides. To help those facing their first tax season, I sat down with Erich Holmes, senior accountant in the Tax Services Department at Rea & Associates in Medina, Ohio. Erich has four years of experience in public accounting and he focuses on providing income tax services for individuals, partnerships and corporations.
February 15 -
The California Society of CPAs has signed on as one of the sponsors of a statewide media campaign that aims to raise awareness of the opportunity for California taxpayers to make a charitable gift while completing their state tax returns.
February 12 -
The Internal Revenue Service needed to scramble to implement various provisions of last years Recovery Act to boost the economy as quickly as possible, but it now has to improve its enforcement and reporting to safeguard against abuses, according to a government report.
February 12 -
Sen. Sherrod Brown, D-Ohio, has introduced a bill that would tax more Wall Street bonuses than similar legislation introduced a week ago.
February 12 -
Senate 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.
February 12 -
At last count, at least 11 parties have submitted amicus (friend of the court) briefs to the U.S. Supreme Court as it considers whether to hear an appeal from the First Circuit decision in Textron regarding a corporations tax accrual workpapers.
February 11 -
Senate 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.
February 11 -
New York City has launched a free Web-based tax preparation and electronic filing service that is available to all residents who earn less than $58,000.
February 11 -
The 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.
February 10
