Finance

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.

Court rulings explore when IRS regulations are due deference.

Three bills before Congress could offer small businesses some tax help.

The House and Senate passed a highway bill Friday that contains provisions to prevent a doubling of the interest rates for subsidized Stafford student loans.

Fitch Ratings said that two recently released pension accounting and financial reporting standards from the Governmental Accounting Standards Board are generally positive for state and local governments.

Well, now we know the answer. The individual mandate in the Patient Protection and Affordable Care Act, which the Administration has variously said was a both a tax and not a tax, is, in fact, a tax. That’s what the Supreme Court has called it, as a reason for finding it constitutional.

Congressional Democrats on the House Ways and Means Committee have introduced a pair of bills to extend the production tax credit for wind energy manufacturers through the end of 2013 and provide a 10 percent income tax credit for employer payroll increases this year.

The Supreme Court has upheld the Patient Protection and Affordable Care Act.

On the eve of the Supreme Court’s decision on the constitutionality of the Affordable Care Act, a new report on the Internal Revenue Service’s readiness to handle some specific aspects of the law has been released.

The Federal Housing Administration insured over $1.44 billion in mortgages for 6,327 borrowers with $77.6 million in federal tax debt who benefited from the 2009 American Recovery and Reinvestment Act. Of these borrowers, 3,815 individuals claimed and received $27.4 million of First-Time Homebuyer Credits from the Recovery Act.

Sen. John McCain, R-Ariz., has a novel idea. Instead of allowing $500 billion of cuts in the defense budget to go forward as part of last year’s deficit reduction deal, he wants to use money saved from closing tax loopholes.

The Governmental Accounting Standards Board voted Monday to approve two new standards to improve the accounting and financial reporting of public employee pensions by state and local governments.