Finance

Democrats on the House Ways and Means Committee introduced legislation Tuesday to extend the Earned Income Tax Credit, the Child Tax Credit and the American Opportunity Tax Credit for tuition and related expenses.

House Republicans introduced legislation Tuesday to prevent the Bush tax cuts from expiring.

New estimates from Congress’s Joint Committee on Taxation indicate that millionaires would benefit a disproportionate amount from extending the tax cuts for income at all levels.

Senators Jack Reed, D-R.I., and Chuck Grassley, R-Iowa, have introduced bipartisan legislation to strengthen the Securities and Exchange Commission’s ability to crack down on securities law violations.

It’s not just the presence of taxes, it’s the anticipation of the future tax landscape that plays a decisive role in decisions made by small businesses.

Faced with possible dissent in their party, U.S. Senate Democrats are dropping estate tax language backed by President Barack Obama from their proposal to extend most George W. Bush-era tax cuts through 2013.

Democrats on the House Ways and Means Committee have introduced a bill to provide tax credits to businesses that brings jobs and business operations back to the U.S. from abroad.

Rep. Sander Levin, D-Mich., the ranking Democratic member of the tax-writing House Ways and Means Committee, plans to introduce legislation that would require Presidential candidates to make public 10 years of tax returns and disclose any overseas accounts.

A new report from Ernst & Young finds that allowing tax cuts to expire for upper-income taxpayers would cost the economy approximately 710,000 jobs.

A pair of influential lawmakers are asking the Internal Revenue Service to provide detailed information on its technology budget.

Democratic lawmakers are trying to take a hard line with Republicans, threatening to let tax cuts expire at the end of the year rather than simply extend the Bush tax cuts for upper-income taxpayers.

President Barack Obama took aim at Republican rival Mitt Romney’s tax plan at a campaign event in Cincinnati, citing a new study on the effects of tax cuts on foreign corporate earnings.

Mitt Romney has come under increasing pressure from fellow Republicans in recent days to release more of his tax returns to the public.

The Office of the Chief Accountant of the Securities and Exchange Commission published its final staff report on the Work Plan for global accounting standards.

The New Mexico Finance Authority has discovered that a former controller claimed its financial statements for 2011 had been audited by outside auditor Clifton Gunderson when in fact they were not.

Democratic lawmakers on the House Ways and Means Committee have introduced legislation to extend the Research and Development Tax Credit through the end of the year.

A bill to provide tax credits to small businesses that hire new workers has been blocked by Senate Republicans after Democrats refused to allow GOP-sponsored amendments on extending the Bush individual income tax cuts.

Legislation to provide tax credits for small businesses that hire new workers has made progress in the Senate, with lawmakers voting 80 to 14 to advance the bill past a procedural hurdle Tuesday, but Senate Democrats blocked an attempt Wednesday by Republicans to add an amendment that would extend the Bush tax cuts for another year.

The top Senate tax writer predicted Democrats in the chamber will back President Barack Obama’s latest push to extend part of the Bush-era tax cuts, calling talk of Democratic dissension “background noise.”

President Barack Obama pushed for a one-year extension of the current tax rates, but only for taxpayers making under $250,000 a year.