Tax strategies

A Washington think tank, the Center for Economic and Policy Research, has released a report recommending a tax on financial speculation as a way to help solve the federal government’s long-term budget deficits.

Senate Minority Leader Mitch McConnell, R-Ken., said he expects President Obama to call for lowering the corporate income tax rate during the president’s State of the Union address on Tuesday evening.

A whistle-blowing former Swiss bank executive has handed over two CDs containing the names and account holdings of more than 2,000 high net worth American, European and Asian customers to WikiLeaks founder Julian Assange.

Three Democratic Senators have written a letter to House Speaker John Boehner, R-Ohio, urging him to fix the 1099 reporting requirement in the health care reform law, and have pledged speedy action in the Senate if he does.

With nine out of 10 families either hiring tax preparers or purchasing tax software in order to file their taxes, it is clear that the Tax Code is too complex, too time-consuming and too costly for our families and businesses. So says Dave Camp, R-Mich., the new chairman of the House Ways and Means Committee.

Senate Finance Committee Chairman Max Baucus, D-Mont., and ranking member Chuck Grassley, R-Iowa, released the language of legislation they intend to introduce that would eliminate the patenting of tax strategies, a key priority of the American Institute of CPAs.

Treasury Secretary Timothy Geithner talked about the Obama administration’s support for corporate tax reform during and after a speech on Wednesday.

The AICPA has posted a sample client letter that accountants and tax practitioners can download, personalize and use to inform their clients about how the legislation extending the Bush-era tax cuts could affect them.

The Internal Revenue Service has been hearing a lot of concerns about its new requirements for tax preparers to electronically file tax returns.

National Taxpayer Advocate Nina E. Olson released her annual report to Congress on Wednesday, focusing on the need for tax reform as the No. 1 priority in tax administration.

Every few years, as regularly as clockwork, Washington starts talking about “simplifying” the Tax Code.

The Tax & Accounting business of Thomson Reuters has released an updated version of its tax software to reflect a recent hike in the United Kingdom’s value-added tax.

Democratic and Republican lawmakers are gearing up for a fight over a bill that would repeal health care reform and the tax credits associated with the law.

The House Republican leadership plans to introduce rule changes that would make it harder for Congress to pass tax increases or close tax loopholes.

Call it a tax trifecta: In just eight years, WTAS has roughly tripled its revenues, its number of partners and its client base.

A new website is urging “Americans who have the means” to donate their Bush tax cuts to a group of charities.

BNA Software has released a new version of its income tax-planning application to help the clients of accountants and tax practitioners plan around the changes in the tax cut extension law.

Changes to tax provisions in a bill providing health coverage for 9/11 emergency responders helped enable the legislation to pass Congress despite the opposition of some leading Republican lawmakers.

Vice President Joe Biden indicated the Obama administration intends to limit the newly extended tax cuts when they come up again for renewal in 2012.

The Tax & Accounting business of Thomson Reuters has added global financial data from Reuters and expanded report-writing features to its transfer pricing software for multinational companies.