Finance

New Jersey Governor John Corzine must be breathing a sigh of relief now that his state has recovered over $625 million from a tax amnesty program.

Four Southern congressmen have written to the IRS asking for casualty loss deductions for homeowners whose property has been damaged by installations of defective Chinese drywall.

The U.S. and Swiss governments have concluded their negotiations over expanding the sharing of tax information to root out tax dodgers, and now plan to sign a protocol in the next few months.

A white paper released by the White House outlining the administration’s plan for financial regulatory reform recommends that accounting standard-setters make more progress in agreeing on a single set of accounting standards by the end of the year and iron out differences over fair value accounting.

The new administration released its budget and included its revenue proposals, detailed by the Treasury Department in the "Greenbook." There is quite a bit of material, so I want to focus on the proposals that didn't happen that are of concern to accountants and clients.

Minority-owned businesses were less successful in obtaining awards from the Treasury Department’s New Markets Tax Credits program than non-minority entities in recent years, according to a new government report.

I've given it a lot of thought and have decided that I need to make some drastic lifestyle changes.

The IRS offered guidance to businesses that plan to claim a newly expanded work opportunity tax credit for eligible unemployed veterans and unskilled younger workers.

Rep. Hank Johnson, D-Ga., has introduced a bill that would ensure that small business government contracts go only to small businesses instead of the subsidiaries of large companies.

A California congressman has introduced legislation that would require federal agencies to use interactive data-tagging technology to track the use of government bailout funds by companies.

Employment search provider Monster Worldwide agreed to pay the SEC $2.5 million in penalties to settle stock option backdating charges.

Although I reside in one of the most overtaxed and inarguably free-spending states in the union, I did not attend any of the many "Tea Parties" held last month, fittingly, on April 15. Though I was sorely tempted because - for those not familiar with the fiscal drumbeat of New York - tax hikes are as predictable as a Mets' late-season collapse or delays in the 80-year odyssey better known as the Second Avenue Subway.

Five trade groups representing banks, financial service firms and insurance companies sent a joint letter to Congress registering continued displeasure with fair value and mark-to-market accounting and impairment rules, despite recent changes.

The Obama administration and the Treasury Department are calling for greater regulatory control of the over-the-counter derivatives market.

The Senate Finance Committee held hearings to determine how to pay for health insurance reform, including through new taxes and tax credits.

Most of the major banks passed the financial stress tests with flying colors last week, in no small part thanks to some key concessions by the Federal Reserve.

The “greenbook” released by the Obama administration on Monday includes a number of proposals of special interest to tax preparers.

The Obama administration released detailed plans to cut $800 billion in taxes on small businesses and middle-class families over the next 10 years, while raising $122.5 billion in corporate taxes

U.S. banks need about $74.6 billion in extra capital after undergoing a series of financial stress tests by the Federal Reserve.

Some of the president’s staunchest supporters in Congress and the tech business seemed taken aback by his plans to crack down on offshore corporate tax havens, but they shouldn’t have been surprised.