Tax strategies

The House overwhelmingly passed legislation repealing the 3 percent withholding mandate on government contractors, along with a tax credit for hiring veterans.

The November 23 deadline for Congress’s deficit reduction “supercommittee” is only about a week away and effectively a few days less.

The deficit reduction “supercommittee” in Congress appears increasingly unlikely to make any decisions on taxes before its impending deadline.

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CCH provided advice on year-end tax strategies that, if implemented before a taxpayer’s liability is finalized, could make a significant difference in what they owe as tax year 2011 draws to a close.

Commissioner Doug Shulman has presided over the continued reorganization and modernization of the Internal Revenue Service since March 2008.

The Senate failed to advance an infrastructure jobs bill Thursday that would have been paid for through higher taxes on millionaires.

A group of Democrats on the tax-writing House Ways and Means Committee has introduced a bill to extend federal unemployment insurance through 2012 and provide tax relief to employers in states with outstanding UI loans.

The 280 most profitable U.S. corporations are sheltering half their profits from federal income taxes, and 30 of them paid less than zero in the last three years, according to a new study.

Greatland, a provider of W-2 and 1099 tax information reporting software, has issued a guide to help tax preparers navigate the tax changes enacted into law this past year.

Most accountants involved in tax preparation are already involved in financial planning, even though they might not realize it.

President Barack Obama pressed for passage of his jobs bill, promising a boost in the economy in exchange for higher taxes on the wealthy.

House Ways and Means Committee Chairman Dave Camp, R-Mich., has released a discussion draft version of proposed legislation to transition the U.S. from a worldwide system of taxation to a territorial system, while lowering the top tax rate for both individuals and businesses to 25 percent.

PricewaterhouseCoopers has published the firm’s annual guide to tax and wealth management, “Managing Your Wealth.”

The Internal Revenue Service is facing challenges keeping ahead of financial services companies that create sophisticated financial derivatives and offer them as a way to evade tax liabilities.

The Internal Revenue Service is gearing up to handle the complex tax provisions of the health care reform law and has made significant progress so far in planning for the law’s implementation, according to a new government report.

The Internal Revenue Service said Thursday that many tax benefits for tax year 2012 will increase due to inflation adjustments, including personal exemptions and standard deductions, with tax brackets also widening next year.

One day after verbally scuffling with fellow GOP Presidential hopeful Mitt Romney, Gov. Rick Perry called for implementing a flax tax in what many saw as a preview of his economic policies.

The Internal Revenue Service is reportedly auditing Google in an effort to learn more about the search giant’s use of foreign subsidiaries to shift profits in the wake of three acquisitions.

Senate Republicans blocked President Obama’s jobs package with its extension of the payroll tax cuts and unemployment insurance, tax credits for new hires and wage increases, and surtax on millionaires.