Finance

The House passed a bill that will provide $12 billion in tax breaks and a $30 billion lending fund to small businesses by a party-line vote of 237-187.

Congressional Republicans introduced their “Pledge to America” during an event at a lumber store in Sterling, Va., with a document laying out promises to cut taxes and hold down government spending.

Gene Dodaro, who has filled the post of acting comptroller general of the Government Accountability Office for two-and-a-half years, has been nominated by President Obama as the official comptroller general.

The Senate Finance Committee held hearings Wednesday on the effects of tax and fiscal policy on the military and veterans and how those could be alleviated through the Tax Code.

In addition to asking candidates for our Top 100 MostInfluential People in Accounting their opinions on IFRS and convergence, weasked:

Financial Executives International has written to congressional leaders criticizing President Obama’s proposal to close foreign tax credit loopholes in exchange for making the research & development tax credit permanent.

House Republican whip Eric Cantor, R-Va., said in an editorial Monday that his party will resist any income tax increases in Congress, as the expiration of the Bush tax cuts looms at the end of the year.

The Senate approved legislation on Thursday that would provide $12 billion in tax breaks to small businesses, along with a $30 billion lending fund.

Senate Finance Committee Chairman Max Baucus, D-Mont., introduced the latest version of the tax cuts extenders bill on Thursday in another effort to extend a large number of tax breaks that have either expired or are about to expire for individuals and businesses, including new incentives for companies to hire workers.

Washington is preparing to do battle over the decade-old question of whether income tax cuts should be extended to taxpayers at the upper income scales.

A bill providing $12 billion in tax breaks and a $30 billion lending fund for small businesses passed a key hurdle in the Senate on Tuesday when two Republican lawmakers voted to join Democrats to cut off debate.

The Senate was unable to produce enough votes to end debate on two amendments that would have repealed or scaled back the expanded 1099 reporting requirements for businesses in the health care reform bill.

A spokesman for Senate Minority Leader Mitch McConnell, R-Ken., said Senate Republicans are uniformly opposed to letting the Bush tax cuts expire for even the wealthiest taxpayers.

Washington, D.C. - The Securities and Exchange Commission is asking the public for feedback on its plans for incorporating International Financial Reporting Standards into the financial reporting system for U.S. issuers.

I'll be the first to admit that I have little patience looking for things, a trait that has annoyed my better half for nearly a quarter-century. Whether it be missing socks, a screwdriver or last month's bill from Home Depot, I usually require the use of a GPS to locate it.

Washington, D.C. - A group of Democratic senators has written to the chair of the Securities and Exchange Commission urging the SEC to require more complete and accurate corporate accounting disclosures, especially of off-balance-sheet transactions.

Washington, D.C. - The Public Company Accounting Oversight Board plans to impose more sanctions on accounting firms and managers that don't adequately supervise their staff.

Washington, D.C. - President Obama told attendees at a WhiteHouse press briefing Friday he wants an extension of middle-class tax cutsbefore negotiations begin on extending tax breaks for the wealthy.

Investor confidence in the U.S.capital markets declined slightly, but fell even more sharply for marketsoutside the U.S., according to a new survey by the Center for Audit Quality.

President Obama is proposing to expand and simplify the permanent research and experimentation tax credit, increasing the rate of the simpler form of the credit 17 percent to simplify the process for businesses.