Finance

The House has passed legislation that would require taxpayers to provide a Social Security number to claim the Child Tax Credit in an effort to discourage fraud, as well as adjust the amount of the credit for inflation.

President Barack Obama attacked companies that use cross-border mergers to escape U.S. taxes, accusing them of being “corporate deserters who renounce their citizenship to shield profits.”

The House approved legislation to consolidate four different tax incentives for higher education into a single tax credit.

The U.S. Senate advanced a narrow attempt by Democrats to limit tax breaks for companies moving jobs out of the U.S.

At least four Democrats on the Senate Finance Committee say they’re not ready to back the push by President Barack Obama and party leaders for retroactive tax legislation to prevent companies from moving their legal addresses out of the U.S.

Expiration of the research tax credit imperils the orphan drug credit, and the lives that depend on it.

Undercover investigators working with the Government Accountability Office found it was easy to falsify information when applying for Premium Tax Credits to help pay for health insurance.

The battle over corporate inversion deals is heating up, as more U.S. multinational corporations find merger partners abroad that will allow them to move their tax domiciles to countries with lower tax rates.

The growing number and complexity of large partnerships, such as hedge funds, are making it difficult for the Internal Revenue Service to audit them effectively, according to a new government report.

Legislation to deter U.S. companies from moving their addresses overseas should avoid retroactive taxes, prevent a net tax increase and move toward a revamp of the tax code, Senator Orrin Hatch of Utah said today.

In another blow to President Barack’s Obama’s signature legislation, a three-judge panel on the D.C. Circuit Court of Appeals has ruled in favor of the plaintiff, declaring the law’s premium subsidies are invalid in more than two dozen states due to the law’s specific language.

President Barack Obama’s health-care overhaul suffered a potentially crippling blow as a U.S. appeals court ruled the government can’t give financial assistance to anyone buying coverage on the insurance marketplace run by federal authorities.

A Renaissance Technologies LLC hedge fund’s investors probably avoided more than $6 billion in U.S. income taxes over 14 years through transactions with Barclays Plc and Deutsche Bank AG, a Senate committee said.

The Organization for Economic Cooperation and Development has released the full version of the OECD’s new standard for the automatic exchange of tax information across different countries.

Lawmakers who are part of a group of current and former CPAs and accountants in Congress are expressing concern about the possibility of the Securities and Exchange Commission allowing U.S. companies a choice of using either U.S. GAAP or International Financial Reporting Standards.

Definitions for the same or similar terms such as “income,” “small business” and “disabled” can differ across various tax provisions and policy objectives, according to a new government report.

Congress is planning a hearing next week on the integrity of the Affordable Care Act’s Premium Tax Credit program as the Internal Revenue Service is cautioning taxpayers to make sure they are receiving the appropriate level of tax credits to help them pay for health insurance.

Edward Snowden, the former National Security Agency contractor who blew the whistle on the secret surveillance activities being carried out by the federal government, is warning accountants and other professionals to be concerned about the privacy of their communications.

The House has passed legislation extending a number of tax deductions for charitable contributions and making them permanent.

The tax reform proposal put forward by House Ways and Means Chairman Dave Camp earlier this year attempts, like other proposals before it, to broaden the base and lower the rates.