Tax research

Profitable U.S. corporations paid only about 13 to 17 percent of their pretax worldwide income in U.S. federal income taxes, according to a new report from the Government Accountability Office based on data from the actual tax returns filed by the corporations.

The inability of cities and local jurisdictions to collect existing sales taxes on Internet sales translates into billions of dollars in lost revenue, according to a new report from the U.S. Conference of Mayors, that found New York City, Phoenix and Chicago as the top money-losing cities.

A new study jointly conducted by the Congressional Budget Office and the Joint Committee on Taxation estimates that the bill currently under debate in the Senate would save nearly $1 trillion over the next two decades, largely because more than 10 million additional people would be paying taxes.

World leaders at the G8 Summit meeting in Lough Erne, Northern Ireland, issued a declaration Tuesday calling for countries to share tax information and increase transparency to discourage tax evasion, and President Obama released an action plan for identifying actual company ownership.

Bloomberg BNA executive editor of tax and accounting George Farrah discusses how accountants today are dealing with the economy, technology, globalization and practice management, in an interview with Accounting Today editor-in-chief Daniel Hood.

CCH has unveiled Sales Tax RADAR (rates and decisions administration reporting), a new cloud-based tool designed to track rates and taxability details in thousands of jurisdictions

Bloomberg BNA has begun a joint initiative with Tax Materials, the producers of the tax reference book series TheTaxBook, to include content from TheTaxBook in Tax Prep Guides that will be offered as part of Bloomberg BNA’s Tax Practice Series.

The Internal Revenue Service does not have enough data to identify who claims a tax expenditure and how much they claim, for nearly half the dollar value of all tax expenditures, or $492 billion out of $1 trillion, according to a new report by the Government Accountability Office.

A new report from the Congressional Budget Office found that the top 10 tax expenditures are distributed unevenly across the income scale, with much of the benefit going to the top-earning 1 percent of the population.

Understanding the detailed requirements of the health care reform law, and the potential penalties of noncompliance presents, challenges to accountants who are trying to advise their business clients about the Affordable Care Act.

The largest single variable in housing tax credit pricing is a function of the Community Reinvestment Act’s investment test value of a given property’s location, according to a new report.

The Internal Revenue Service’s Large Business & International division and its Wage and Investment division have teamed up to create a discovery tool for taxpayers with international filing requirements.

CCH has released a new analysis of the Internet sales tax legislation approved by the Senate this week.

Congress’s Joint Committee on Taxation has released a report summarizing various provisions of the Tax Code and suggestions that were sent to House Ways and Means Committee working groups tasked with various aspects of tax reform.

It’s become an annual rite of spring, at least for me—the release of Bloomberg BNA’s Survey of state tax departments. The survey, Bloomberg BNA’s 13th annual survey, asks questions aimed at clarifying each state’s position on the gray areas of corporate income and sales and use tax administration. Although nexus isn’t the only topic, it has been one of the main emphases of the survey.

The rate at which the mortgage interest deduction is claimed and the average amount deducted varies widely across states and within states themselves, according to a new report.

Nexus for state corporate income and sales and use taxes remains widely variable between states, according to the Bloomberg BNA 2013 Survey of State Tax Departments.

The Internal Revenue Service released its final report Thursday summarizing its audits of tax-exempt colleges and universities and found that many of them underreport taxable income from their unrelated businesses.

Recent research into William Shakespeare by literary scholars indicates that he may have been a great dramatist, but he was truly the Bad Bard when it came to paying his taxes.

Small businesses are more likely to comply with the tax laws if they are in certain comunities of the country and if they have more trust in their tax preparer, according to a report by the Taxpayer Advocate Service.