Finance

The Middle Class Tax Relief and Job Creation Act of 2012 may be the last piece of tax legislation we’ll see this year.

Republican Presidential candidate Mitt Romney has released an updated set of proposals for cutting taxes.

The Internal Revenue Service released a revised Form 941 on Thursday to allow employers to properly report the newly extended payroll tax cut, which has now been extended through the end of the year.

The National Small Business Association is warning that some of the tax proposals in President Obama’s business tax reform framework could hurt small businesses.

President Obama has signed into law an extension through the end of the year of the payroll tax cut, unemployment benefits, and the so-called “doc fix” to prevent Medicare physician reimbursement rates from plunging.

President Barack Obama launched a dialogue with corporate America on Wednesday over business tax reform, offering his first clear plan to cut the corporate tax rate, with little prospect of it becoming law in an election year.

The Obama administration unveiled a set of proposals for business tax reform on Wednesday aimed at lowering the corporate tax rate to 28 percent from a high of 35 percent, while eliminating dozens of tax loopholes and subsidies.

A nonprofit group representing the interests of U.S. citizens living overseas met with congressional staffers to push for a residence-based taxation system.

Congress passed legislation Friday extending the payroll tax cut, unemployment benefits, and the “doc fix” for Medicare physician reimbursements through the remainder of the year.

There hasn’t been a federal budget in three years, so what’s to worry about the just-released budget for fiscal year 2013?

House and Senate negotiators have released a conference committee report spelling out several of the provisions of the payroll tax cut extension legislation, which also extends unemployment benefits and the “doc fix” for Medicare reimbursements for physicians.

Presidential candidate Rick Santorum released four years’ worth of his joint income tax returns with his wife Karen, showing the former senator had adjusted gross income of nearly $1 million in 2010.

Lawmakers negotiating over the payroll tax cut extension said they have agreed on a deal to extend the 2 percentage point cut in Social Security and Medicare withholding taxes through the rest of the year, along with unemployment benefits and the “doc fix” to prevent Medicare reimbursements to physicians from being cut.

U.S. lawmakers reached a tentative deal on Tuesday on legislation aimed at boosting the economy by extending a payroll tax cut for 160 million workers through this year and continuing long-term jobless benefits, congressional aides said.

Treasury Secretary Tim Geithner told a Senate panel that the Obama administration plans to introduce a series of proposals to reform the corporate tax laws.

After months of wrangling, congressional leaders appear to be close to a deal on extending the payroll tax cut, unemployment benefits, and the so-called “doc fix” for Medicare physician reimbursements through the end of the year.

Rep. Sander Levin, D-Mich., the ranking Democratic member on the tax-writing House Ways and Means Committee, introduced legislation Tuesday to tax the carried interest earned by hedge fund managers, private equity firm partners, venture capitalists and others at the same tax rates as ordinary income.

The Financial Crimes Enforcement Network has further extended the filing deadline for filing foreign bank account reports for certain financial professionals who have only signature authority over the accounts.

President Barack Obama's 2013 election-year budget took investors by surprise with a call for significantly higher taxes on dividends, a major change from his earlier tax proposals and one that will raise the ire of dividend-paying companies.

The Obama administration has increased its budget request for the Internal Revenue Service for fiscal year 2013 to approximately $12.8 billion to make up for recent budget cuts.