Tax strategies

President Obama urged Congress to agree on a combination of tax reform and spending cuts to achieve deficit reduction during a speech Tuesday in which he proposed an alternative to the drastic automatic spending cuts that were part of the budget sequester deal.

U.S. financial institutions may see their reporting burdens rise as a result of a law designed to prevent taxpayers from hiding funds offshore.

What has almost 4 million words and is one of the most complex and least transparent documents of the century? Our Tax Code.

The Tax & Accounting business of Thomson Reuters has introduced a transfer pricing software product that helps multinational corporations like Ford Motor Company cut their tax bills.

Secretary of the Interior Ken Salazar has asked the National Park Service to conduct an internal review of the Federal Historic Preservation Tax Incentives Program to ensure the program is maximizing opportunities to use historic preservation to promote economic development and revitalization of communities, particularly in urban areas.

Tax executives from Global 2000 companies are increasingly relying on tax compliance strategies and planning when dealing with sales and use taxes and indirect taxes like the value-added tax.

Evidence suggests that some medical device manufacturers are shifting the burden of the medical device excise tax directly to American hospitals and other health care providers, an industry association charges.

The Republican chairman of the tax-writing House Ways and Means Committee, Dave Camp, R-Mich., released a draft document Thursday proposing a series of tax reforms for various types of financial derivatives and other financial products, building on work done by his committee over the past two years.

Mergers and acquisitions are expected to increase in 2013, according to a new survey, with 76 percent of the more than 300 M&A professionals in the U.S. who were polled anticipating that their company will make at least one acquisition in 2013.

While Section 179D of the Tax Code expires at the end of 2013, opportunities exist in two areas: accelerating future projects into 2013 and reviewing projects dating back to Jan. 1, 2006 that resulted in energy savings.

The American Institute of CPAs has written to the leaders of Congress’s tax-writing committees asking them to expand the replacement period for property loss for taxpayers affected by Hurricane Sandy.

Professional services search firm ExpertBids has released its 2012 tax Webpage designed to help small and medium sized businesses across the United States find the right tax accountant free of charge.

The Treasury Department and the Internal Revenue Service have issued a long-awaited set of final regulations implementing the information reporting and withholding tax provisions of the Foreign Account Tax Compliance Act aimed at combating offshore tax evasion, with far-reaching implications for U.S.-born taxpayers abroad, in addition to foreign financial institutions as well as U.S. banks.

For businesses relocating or expanding into new markets, taxation is now one of the top 10 site selection factors that determine where companies decide to set up shop, especially in high-cost states like California, Massachusetts, New York and Illinois.

2nd Story Software, the company that makes TaxAct consumer tax prep software, has introduced a do-it-yourself estate planning software product for drawing up a last will and testament.

The Internal Revenue Service has released the annual inflation adjustments for 2013, including the tax rate schedules and other tax changes from the recently enacted fiscal cliff legislation with its new tax rate of 39.6 percent and permanently patched Alternative Minimum Tax.

The Internal Revenue Service stated on Tuesday that they will begin processing individual tax returns on Jan. 30, 2013, marking the official beginning of “tax season” for tax professionals.

Fresh from year-end tax planning meetings with clients, we’ve identified four areas where great tax planning and great financial planning collide, specifically for people accumulating wealth.

National Taxpayer Advocate Nina Olson told Congress in her annual report that the Internal Revenue Service is not doing enough to assists victims of tax-related identity theft and tax return preparer fraud.

The Internal Revenue Service said Tuesday that it plans to open the 2013 tax filing season and begin processing individual income tax returns on Jan. 30, more than a week after the initially planned start date of Jan. 22, but some returns cannot be processed until late February or March.