Finance

A pair of congressmen who are also physicians, Ami Bera, M.D., D-Calif., and Charles Boustany, M.D., R-La., introduced a bipartisan bill late last month to make health care more affordable for working families, small businesses and seniors.

Senate Finance Committee chairman Max Baucus, D-Mont., unveiled a series of proposals Wednesday to combat tax fraud and make the tax-filing process simpler and more efficient.

At a hearing Monday before the IRS, a number of employer groups urged the agency to alleviate the burdens and costs to employers of health care coverage reporting under the Affordable Care Act by allowing for greater flexibility and simplification in the reporting requirements.

Senate Finance Committee chairman Max Baucus, D-Mont., has released the first in a series of discussion drafts for overhauling the Tax Code, with the first set of proposals focusing on international tax reform.

Behind the glazed white terra cotta facade of the Ritz-Carlton hotel in New Orleans is a 16-year legal battle with the Internal Revenue Service.

U.S. and French officials signed an intergovernmental agreement Thursday to advance the implementation of the Foreign Accounting Tax Compliance Act.

Millionaires who avoid payroll taxes by claiming income as business profits are among those in Democrats’ sights as congressional budget negotiators seek a deal by next month.

Senators Robert Menendez, D-N.J. and Pat Toomey, R-Pa., have introduced bipartisan legislation to help entrepreneurs start and grow a small business and comply with complex tax rules.

A new report from the Government Accountability Office examines corporate tax deferral, highlighting the distortionary impact on the economy.

A bipartisan bill has been introduced in the Senate with the goal of simplifying income tax collections for taxpayers who work in multiple states.

A pair of senators have introduced bipartisan legislation that would rescind tax write-offs for illegal corporate behavior in an effort to hold corporate wrongdoers accountable.

Rep. Dave Camp, R-Mich., chairman of the tax-writing House Ways and Means Committee, has written a letter to Internal Revenue Service acting commissioner Danny Werfel urging the IRS to disclose all the information it has available to date on the eligibility determinations it has made for individuals who have applied for premium tax credits in the health insurance exchanges that went online last month under the Affordable Care Act.

The American Institute of CPAs has written to the leaders of the Senate Homeland Security and Government Affairs Committee encouraging them to support the Digital Accountability and Transparency Act of 2013, also known as the DATA Act (S. 994), which includes a provision calling for establishment of government-wide financial data standards for federal funds.

Rep. Mike Thompson, D-Calif., a senior member of the tax-writing House Ways and Means Committee, has introduced legislation to expand the New Markets Tax Credit program to provide up to $100 million a year to help distressed communities whose military installations have been either closed or realigned.

Approximately 8,400 federal employees and contractors who were judged eligible for a security clearance from April 2006 to December 2011 owed approximately $85 million in unpaid federal taxes as of June 2012, according to a new government report.

Allen M. Abrams, co-founder of the Chicago-based accounting firm Ostrow Reisin Berk & Abrams, Ltd., has died after a brief illness at the age of 81, on Oct. 27, 2013, his firm announced.

A pair of lawmakers have introduced legislation to simplify the Tax Code to enable families to more easily afford the cost of higher education.

A measure that would put the brakes on the Department of Labor's proposal to establish a fiduciary standard for advisors to retirement plans was approved by the U.S. House of Representatives in a largely party-line vote on Tuesday.

The Treasury Department and the Internal Revenue Service have released a document containing proposed guidance for foreign financial institutions as the next step in implementing the Foreign Account Tax Compliance Act in an effort to combat offshore tax evasion.

The amount of money the federal government receives from corporate income taxes has been declining since 2008, mainly because of the recession, according to a new government report.