Tax strategies

Sen. Olympia Snowe, R-Maine, criticized the U.S. Small Business Administration after it missed a deadline to send comments to the Treasury Department and the IRS about a controversial new 1099 reporting requirement for businesses.

The Supreme Court kicked off its new term on Monday with a brand new justice who will be hearing about a number of tax cases, at least when she doesn’t have to recuse herself.

The lame duck session slated to begin in mid-November leaves Congress a massive amount of unfinished business.

The American Institute of CPAs and 18 other groups have written a letter to congressional leaders encouraging them to ban tax strategy patents before adjourning.

Senate Republicans blocked a bill on Tuesday that would have denied tax breaks to companies that move jobs offshore and provide companies with a two-year holiday from their share of Social Security payroll tax withholding for each employee they hire to replace a worker at a foreign-based facility.

The Senate debated a bill on Monday that would give companies a two-year holiday from their share of Social Security payroll withholding for each employee they hire to replace a worker at a foreign-based facility.

A Kansas company has created a national online marketplace for matching buyers and sellers of transferable state tax credits.

Senate Democrats plan to hold a vote on the Bush tax cuts extension soon after the mid-term election in November, congressional leaders indicated.

Senate Democrats have decided to wait until after the mid-term election in November to hold a vote on legislation to extend the Bush tax cuts of 2001 and 2003, which are due to expire at the end of this year.

The Senate Finance Committee held hearings Thursday on tax reform and the lessons learned from the Tax Reform Act of 1986 in the wake of a recently published report from a presidentially appointed panel.

The Senate Finance Committee held hearings Wednesday on the effects of tax and fiscal policy on the military and veterans and how those could be alleviated through the Tax Code.

Financial Executives International has written to congressional leaders criticizing President Obama’s proposal to close foreign tax credit loopholes in exchange for making the research & development tax credit permanent.

Senate Finance Committee Chairman Max Baucus, D-Mont., introduced the latest version of the tax cuts extenders bill on Thursday in another effort to extend a large number of tax breaks that have either expired or are about to expire for individuals and businesses, including new incentives for companies to hire workers.

Washington is preparing to do battle over the decade-old question of whether income tax cuts should be extended to taxpayers at the upper income scales.

A spokesman for Senate Minority Leader Mitch McConnell, R-Ken., said Senate Republicans are uniformly opposed to letting the Bush tax cuts expire for even the wealthiest taxpayers.

The question, "What happens if the Bush tax cuts sunset?" may seem a little silly at first.

Jones & Luscombe wrong on K-1 taxation K-1 taxation correction

Although the pundits have already weighed in on theeconomic effects of the administration's latest proposals at improving jobs andinvestment, the specific legislation to enact the proposals faces hurdles,which will diminish the likelihood of an effect any time soon.

President Obama is proposing to expand and simplify the permanent research and experimentation tax credit, increasing the rate of the simpler form of the credit 17 percent to simplify the process for businesses.

President Obama has not yet formally unveiled his plans for stirring up the sleeping job market through business tax breaks and infrastructure spending, but his ideas are already provoking skepticism.