Finance

House Republicans are moving toward a vote this week on legislation to revive dozens of lapsed U.S. tax breaks and extend them only through the end of this year.

The U.S. House of Representatives will probably vote this week to revive dozens of lapsed tax breaks and extend them only through the end of this year, said a Republican member of the Ways and Means Committee.

President Barack Obama’s threatened veto of a $400 billion-plus tax-break bill exposed a widening fault line within the Democratic Party.

President Barack Obama would veto a tax-break agreement being negotiated in Congress by Senate Democrats and House Republicans.

With only a few days remaining on Congress's 2014 legislative calendar, there is still no clear answer for whether and how Congress will deal with the nearly 60 "extender" tax provisions—the temporary provisions that have been routinely extended on a one- or two-year basis but were allowed to expire at the end of 2013.

Tax extenders, temporary tax provisions that are reinstated by Congress on a regular basis, have been a recurring part of the tax arena for years. Most of the current group up for debate have expired at the end of 2013, and their eventual extension will be retroactive, but not all will be extended. Here are the best bets.

The Governmental Accounting Standards Board has issued two documents describing its preliminary views on lease accounting for state and local governments, and financial reporting for fiduciary responsibilities, as it solicits public comments on possible standards.

The Internal Revenue Service is being urged to bolster its enforcement efforts on multimillion-dollar Individual Retirement Accounts in a new government report that also encourages Congress to provide more direction.

If the lame duck session of Congress fails to address the tax extenders, it will fall to incoming House Ways and Means Committee chairman Paul Ryan, R-Wis., to see that they get passed early in the next session of Congress.

Rep. Paul Ryan, R-Wis., the former vice presidential nominee, has been selected by members of the House Republican Steering Committee to serve as chair of the powerful House Ways and Means Committee, Congress's main tax-writing committee.

An official from the American Institute of CPAs testified at a Senate hearing Tuesday on the need for Congress to pass legislation giving victims of natural disasters automatic access to permanent and timely tax relief.

Starbucks Corp. may have unfairly lowered its tax bills by routing profits through Dutch subsidiaries, European Union regulators said as they continued to investigate sweetheart fiscal deals between multinational companies and national governments.

The Internal Revenue Service did not maintain effective internal control over financial reporting as of Sept. 30, 2014, because of a continuing material weakness in internal control over unpaid tax assessments, according to a new report by the Government Accountability Office.

Small businesses overwhelmingly support extension of the expired tax breaks known as tax extenders during Congress’s “lame duck” session, according to a new survey by the National Small Business Association.

The U.S. Supreme Court today agreed to review a challenge to the tax subsidies allowed under the Affordable Care Act, a critical aspect of the law meant to help uninsured individuals better afford health care coverage.

The new chief accountant of the Securities and Exchange Commission told attendees at a conference Thursday that he hopes to make a recommendation in the next few months on whether the SEC should move toward switching U.S. companies to IFRS, according to The Wall Street Journal.

Agency picks former Deloitte vice chair

The fate of President Barack Obama’s health-care law is again in the hands of the U.S. Supreme Court.

Governments around the world closed in on tax evaders with an automatic data-sharing accord that broadens efforts by the U.S. and the five biggest European Union economies to more than 50 countries and territories.

Hal Hicks cleared his throat and addressed a roomful of peers in a midtown Manhattan auditorium. The topic: the tax-avoidance technique called inversion, in which a U.S. company claims a foreign legal address.