Tax strategies

A long list of organizations representing small and closely held businesses sent a letter to the leaders of the tax-writing committees in Congress urging them to include them in any upcoming tax reform legislation.

A group of lawmakers has introduced a bill that would temporarily lower tax barriers to encourage American companies with earnings overseas to bring those dollars back to the U.S. for investment.

Three Democratic senators have introduced a bill that would end tax subsidies for the five largest oil companies.

The Federal Deposit Insurance Corp. has proposed a $2 million fine against Republic Bank & Trust Co. after the bank tried to coach tax preparers using its refund anticipation loan products on how to respond in case the FDIC visited them.

A majority of multinational company tax executives predict that a broadened international regulatory focus on increased transparency will be the most significant change their company can expect in international taxation over the next year, according to a survey by KPMG LLP.

A new survey by Thomson Reuters found a perceived increase of 80 percent in audits of indirect taxes such as value-added taxes.

CCH has partnered with Comtax to offer the Comtex System international taxation software in the U.S.

Rep. Tim Bishop, D-N.Y., has introduced an energy bill that would eliminate some of the tax breaks enjoyed by the major oil producers.

Republicans in the House and Senate introduced a bill Thursday that could drastically change the way states distribute unemployment insurance benefits.

A bipartisan group of Midwestern state senators introduced legislation Wednesday to update ethanol tax credit policies, but not repeal the tax credit.

The tax-related talk in Washington lately has shifted from overall tax reform to specific fixes like eliminating about $4 billion in tax breaks for major oil companies.

A bipartisan group of senators has renewed the effort to repeal tax credits for ethanol, introducing a bill Tuesday that would fully eliminate the Volumetric Ethanol Excise Tax Credit.

President Obama repeated his demand for Congress to eliminate an estimated $4 billion in tax breaks for the major oil and gas companies.

Thousands of tax credits, deductions and other incentives are hidden throughout the Tax Code. Some, such as the Blender's Credit, are obscure, while others, such as the Earned Income Tax Credit or the various energy credits, are well known.

Not so long ago, I read a story about a woman who, while cleaning her house, inadvertently shattered one of those energy-saving compact fluorescent lights with the end of a broom handle.

The Texas Society of CPAs has issued an analysis of the Obama administration’s call for eliminating special tax breaks for domestic oil and gas production and come out firmly against any repeal.

Treasury Secretary Timothy Geithner blamed a “broken” tax system as one of the chief causes of the U.S. budget deficit.

It’s good that tax reform is high on the political agenda these days.

The Tax Code provides substantial benefits for families with children, including up to $9,000 for a single parent with two children, according to a new study.

Senate Finance Committee Chairman Max Baucus, D-Mont., released a plan Thursday to write legislation that would end billions of dollars in tax breaks for large multinational oil and gas companies.