Tax strategies

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.

Intuit has been closely monitoring congressional and IRS activity on the tax extension legislation passed by Congress late Thursday night and said it has completed various scenario plans and programmed its professional tax software applications to be prepared for all the latest tax law changes.

With just weeks to go before the end of the year, Congress has cleared tax relief legislation extending the Bush-era individual and capital gains and dividend tax cuts for all taxpayers for two years, as well as a 13-month extension of unemployment benefits.

The House approved an $858 billion extension of the Bush-era tax rates and unemployment benefits late Thursday night, a day after the Senate approved the bill, sending the bill to President Obama’s desk.

Nonprofit charitable tax-exempt organizations filed 313,121 information returns for tax year 2007, according to new statistics released by the Internal Revenue Service, an increase of 4 percent from 2006.

The American Institute of CPAs has launched a new public service tax website to help taxpayers better understand how the federal tax system works and connect with a CPA for tax help.

A federal judge’s decision striking down a key provision of the health care reform law, along with the near-certain repeal of the 1099 information reporting requirements in the law, indicate that President Obama’s signature achievement of the past year is likely to be chipped away in the years ahead before many of its provisions even take effect.

From hot air balloons to bagels, 2010 proved to be yet another year in which states and municipalities passed some strange tax laws in a desperate bid to raise revenues and close their budget gaps.

Only a handful of days remain to execute year-end tax strategies. Some techniques for this year reprise traditional advice that has legs year after year, while others, including reaction to whatever this year's lame-duck Congress has wrought, have a unique sense of urgency.

Former President Bill Clinton stood alongside President Barack Obama at a news conference and endorsed Obama’s deal with congressional Republicans to extend the Bush-era tax cuts and unemployment benefits.

Senate Majority Leader Harry Reid, D-Nev., has introduced a bill to extend the Bush tax cuts and unemployment benefits.