Finance

The American Institute of CPAs has sent a set of proposals outlining its recommendations for permanent tax provisions related to disaster relief.

MapLight, a nonpartisan research organization that tracks money's influence on politics, has released a new analysis of how major tax and accounting organizations are spending funds on lobbying Congress and federal agencies.

Congressional Republicans have narrowed the estate tax so much that it affects only about 5,500 wealthy American households a year. Now they want to eliminate the tax altogether—with a bonus for heirs.

As the pace of serious discussions on tax reform picks up, it is evident that small businesses and global multinationals are making their voices heard, while the middle market is getting lost in the shuffle.

Although Republicans are outlining a proposal to provide an “off ramp” for states and consumers to exit the Affordable Care Act, and the Supreme Court is hearing oral arguments on a legal challenge to the federally-operated health exchange, state exchanges have been up and running.

The House Ways and Means Committee passed seven bills Wednesday aimed at reforming the Internal Revenue Service.

The 99-year-old U.S. estate tax would disappear under a bill approved Wednesday by the House Ways and Means Committee.

Although tax reform remains a top priority for the business community, tax executives are not optimistic a bill will reach President Obama’s desk this year.

Congressman Keith Ellison, D-Minn., has re-introduced legislation that would impose a “Robin Hood Tax” on financial transactions and use the money to fund social programs and other causes.

A House subcommittee held a hearing Wednesday on the estate tax after one of its members introduced legislation to repeal it.

The Republican leaders of Congress’s two main tax committees, House Ways and Means Committee chairman Paul Ryan, R-Wis., and Senate Finance Committee chairman Orin Hatch, R-Utah, have written a letter to Treasury Secretary Jacob Lew urging him to avoid pursuing an executive action by President Obama on tax reform.

The American Institute of CPAs sent top tax lawmakers on Capitol Hill a package of 34 legislative proposals Tuesday that the AICPA believes promote simplicity and fairness in the tax code.

Dave Camp, the former Republican chairman of the tax-writing House Ways and Means Committee who spearheaded an effort at tax reform in Congress, has joined PricewaterhouseCoopers as a senior policy advisor based in PwC US’s Washington National Tax Services practice.

The campaign for the Republican nomination for president is poised to become a race to the biggest tax cut.

Each New Year brings with it issues and regulations—both new and revisited—that cause accountants and their small business clients to scramble in order to remain compliant with the law.

The leaders of the Senate Finance Committee, chairman Orrin Hatch, R-Utah, and ranking Democrat Ron Wyden, D-Ore., have revived a bipartisan effort to solicit ideas from interested members of the public and other stakeholders on how best to overhaul the tax code to make it simpler, fairer and more efficient.

The Senate has re-introduced a bipartisan bill aimed at making it easier for states to collect sales taxes on online purchases.

A group of Republican senators have introduced legislation to disallow the Earned Income Tax Credit for prior tax years to any immigrants who would benefit from President Obama’s executive action on immigration reform.

Sen. Rand Paul, R-Ken., has re-introduced a bill to repeal certain provisions of the Foreign Account Tax Compliance Act that he contends violate taxpayer privacy.

Senate and House Democrats are introducing a series of bills to expand the Earned Income Tax Credit, Child and Dependent Care Tax Credit, and the American Opportunity Tax Credit, and create a new 21st Century Worker Tax Cut.