Finance

One promising sign of President Obama’s meeting with congressional leaders Tuesday was that he didn’t emerge with his lip bleeding from a fresh elbow jab in the face.

The Senate failed Tuesday to pass legislation to continue eligibility for federal unemployment benefits for one year.

President Obama met with congressional leaders on Tuesday to discuss the fate of the Bush tax cuts, along with other tax extender items and the extension of unemployment benefits.

The Senate voted Monday evening on a competing pair of amendments to repeal the expanded 1099 information reporting requirements that were included in the health care reform bill, but failed for the second time this fall to roll back the controversial requirements.

Senate Finance Committee Chairman Max Baucus, D-Mont., introduced legislation Monday to continue for one year eligibility for federal unemployment insurance benefits for jobless workers.

President Obama described his negotiating position on the soon-to-expire Bush tax cuts during a visit to a Chrysler transmission plant in Indiana.

The incoming Congress already appears intent on weakening the financial reform legislation passed by the outgoing Congress.

The Securities and Exchange Commission has voted to propose new rules to strengthen the SEC's oversight of investment advisers and fill important gaps in the regulatory landscape.

The Senate has approved funding for a $3.4 billion settlement in a long-running dispute involving the mismanagement of Indian Trust lands and the federal government’s failure to provide a regular accounting for the beneficiary trust funds and assets.

Congressman Charles Rangel, D-N.Y., faces censure from his colleagues in the House for ethical violations involving taxes, unreported income and other matters.

The Government Accountability Office has produced a report looking at the tax compliance benefits and costs of 1099-MISC information reporting, which has been expanded under the health care reform bill.

House Republicans blocked a three-month extension of unemployment benefits, which are set to expire on Nov. 30.

Democratic lawmakers in the House have introduced legislation to extend unemployment benefits for three months until the end of February.

The meeting on the Bush tax cuts between President Barack Obama and congressional leaders that was scheduled for Thursday has been postponed until Nov. 30 at the request of Republican congressional leaders, who cited “scheduling conflicts.”

Senate Finance Committee ranking member Charles Grassley, R-Iowa, has asked the Government Accountability Office to analyze who benefits from the federal Build America Bonds program, and the proportion of tax dollars that go to Wall Street banks for fees rather than for the infrastructure projects themselves.

The American Institute of CPAs has written to Congress urging lawmakers to repeal the controversial new 1099 information reporting requirements in the health care reform bill.

Charles Rangel, the former chairman of the tax-writing House Ways and Means Committee, abruptly departed a House ethics panel hearing on Monday, claiming that he could not afford to pay for legal counsel.

The unfinished business awaiting Congress during the lame duck session this month includes the expiring 2001 and 2003 tax cuts, the normal extender items, the estate tax, and, many tax professionals believe, a ban on tax strategy patents.

Senate Finance Committee Chairman Max Baucus, D-Mont., said Friday he would introduce legislation to repeal the controversial requirements for businesses to file forms that would report payments made for goods and certain services to the IRS.

The bi-partisan panel appointed in February by PresidentObama and charged with reducing the mammoth U.S, deficit, has released a draftproposal calling for billions in spending cuts as well as overhauling the taxcode in an effort to cut U.S. debt down to 60 percent of GDP by 2024.