Tax strategies

Republican presidential candidate Jon Huntsman described his plans for tax and regulatory reform during a campaign appearance in New Hampshire.

With a brief three months remaining in 2011 and a high degree of uncertainty surrounding any major tax changes, practitioners have begun stepping up the annual rite of year-end planning strategies for both their individual and business clients.

Rep. Michele Bachmann, R-Minn., called for cuts in corporate taxes and the elimination of capital gains and estate taxes in a speech last weekend as she campaigned for the Republican presidential nomination.

Former chairman and chief executive of American Express Harvey Golub took to the opinion pages of Monday’s Wall Street Journal in response to billionaire Warren Buffett’s “Stop Coddling the Super-Rich” New York Times op-ed.

IMGCAP(1)]If there ever were a “good year to die,” that would have been 2010.

IMGCAP(1)][IMGCAP(2)]By doing what they do best—taking care of their clients—international accounting firms may be exposing themselves to multiple tax claims on their own account.

The American Institute of CPAs has written a letter to the Internal Revenue Service asking the IRS to extend the due dates for filing the estate tax form for last year and this year and for a new form for allocating the increase in basis for property acquired from a decedent.

Berkshire Hathaway chairman and CEO Warren Buffett said in an editorial Monday that those making over $1 million and $10 million per year should be taxed at higher rates.

Sen. Chuck Grassley, R-Iowa, has written a letter to President Obama disagreeing with the president’s definition of the term “tax reform.”

The Treasury Department’s Office of Tax Analysis has released a paper that considers changing the way to identify small businesses and their owners, along with their tax characteristics.

Standard & Poor’s decision to downgrade the credit rating for U.S. debt could put new pressure on the members of the so-called “super committee” in Congress to agree on tax reforms.

States are coping with revenue shortfalls by getting rid of sales tax holidays and ratcheting up their audits of corporate sales and use taxes, according to new research.

Multinational companies needed to deal with 270 tax changes in the U.S. and globally in the second quarter of this year, according to a new report.

CCH has expanded its Expert Treatise Library with a new title that deals with the federal taxation of partnerships.

President Obama proposed a new tax credit for businesses that hire unemployed veterans.

After the passage of a New York State law allowing same-sex couples to marry, a New York City wealth management firm has named a new CPA partner to provide same-sex couples with financial planning advice.

President Barack Obama and congressional leaders said Sunday night that they have agreed on the framework of a budget deal that both Democratic and Republican leaders plan to present to their caucuses on Monday.

Senate Majority Leader Harry Reid, D-Nev., saw his plan to raise the debt ceiling turned back Sunday afternoon by a vote of 50-49.

A group of Democratic lawmakers has introduced a bill in Congress aimed at leveling the playing field for sales tax charges between online retailers and brick-and-mortar stores.

Sixty-four percent of small business owners do not believe tax increases should be part of the federal government’s plan to reduce the deficit, according to a new survey.