Finance

In the decade I've been at the helm of this publication, I'm always amazed - and disappointed - at the sort of double standard that exists when it comes to the treatment of the accounting profession versus other services in the wake of a crisis.

The Internal Revenue Service has warned that tax refunds may be delayed for paper-based tax returns in the event of a government shutdown.

The White House has debuted a new online calculator to help taxpayers understand how last December’s tax cut legislation is affecting their paychecks and household finances.

Congress held a hearing Wednesday on the role of the accounting profession in preventing another financial crisis, listening to testimony from accounting regulators, standard-setters and critics.

A bipartisan group of senators has introduced a bill that would end unemployment payments to jobless millionaires.

As Washington moves closer to the brink of a federal government shutdown, the battle lines are already being set for the next budget turf war.

House Republicans issued their fiscal year 2012 budget plan, including a provision that would lower the top tax rates for individuals and corporations to 25 percent.

The Senate voted Tuesday to repeal the expanded 1099 information reporting requirements in last year’s health care reform and small business laws, sending the repeal to President Obama’s desk.

A pair of Republican lawmakers on the House Ways and Means Committee plan to formally request an IRS investigation of the AARP’s tax-exempt status, accusing the group of profiting from its health insurance business.

The House Ways and Means Committee has passed a bill that would limit tax breaks for health insurance policies that cover abortions.

The Senate Finance Committee held a hearing Wednesday on the effectiveness of various tax incentives.

State and local governments saw their tax collections rise in the fourth quarter, according to new data from the U.S. Census Bureau.

The Financial Planning Coalition has called on Congress to support the Securities and Exchange Commission in establishing a fiduciary standard of care for broker-dealers.

General Electric is a company that has long been known for innovation going back to the days of founder Thomas Alva Edison, but now some of its greatest innovations may be in the way it avoids paying corporate income taxes.

A high-ranking Treasury Department official has come out against calls by some multinational corporations for a tax holiday on earnings repatriated from abroad.

The Congressional Budget Office has released a report on taxing the number of miles traveled by vehicles to help fund the highway system, as an alternative to raising fuel taxes.

The U.S. Small Business Administration has proposed to adjust the size definition of small businesses in professional, scientific, and technical sectors, and other service sectors, to expand eligibility for small business programs.

Sen. Claire McCaskill, D-Mo., said she would pay $287,273 in property taxes owed on a private plane that she and her husband co-own.

Sen. Bill Nelson, D-Fla., is pressing the Internal Revenue Service to do more to curb tax fraud by prison inmates, especially in his state, where the problem is the most prevalent.

Rep. Jan Schakowsky, D-Ill., has introduced a bill that would levy taxes of 45 to 49 percent on millionaires and billionaires.