Tax strategies

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.

The House Ways and Means Committee held a hearing to weigh the pros and cons of two different consumption tax models: the value-added tax and the FairTax.

As the battle continues in Washington over how to avert a default on the government’s debt obligations, the possibility of imminent tax increases seems to be fading.

President Barack Obama and Speaker of the House John Boehner, R-Ohio, made the case for their rival approaches to controlling the nation’s spiraling budget deficit as the clock ticks down to the August 2 deadline for raising the debt ceiling to avoid an unprecedented default on the national debt.

The so-called “cut, cap and balance plan” legislation that passed the House would require the passage of a Balanced Budget Amendment to the U.S. Constitution that would mandate a two-thirds supermajority to approve any future tax increases.

Senator Tom Coburn, R-Okla., has proposed a deficit reduction plan estimated to save $9 trillion over the next 10 years by slashing hundreds of government programs, but also increasing taxes in some areas.

Credit Suisse said it has become a target of a Justice Department investigation into its private banking business.

A new bill from a pair of Democratic senators would eliminate a tax break on corporate stock options.

Congress’s two tax-writing committees convened a rare joint hearing Wednesday to consider whether the Tax Code is providing too many incentives for accumulating debt as opposed to equity.

Sen. Carl Levin, D-Mich., and several other senators have introduced a bill to close offshore tax loopholes and strengthen offshore tax enforcement.

Amazon.com is trying to get a referendum on the California ballot to get the recently enacted online sales tax law reversed.