Tax

President Barack Obama proposed a series of actions to deal with economic issues ranging from the minimum wage to tax reform and student loan debt during his State of the Union address on Tuesday evening.

PricewaterhouseCoopers is anticipating that Super Bowl XLVIII will generate over $210 million in direct spending in the New York and New Jersey area, though the revenue generated by the Super Bowl and other pro football activities is leading some to question the NFL’s nonprofit, tax-exempt status.

The Ending Subsidies for Yachts Act, barring the tax deduction for new mortgages on boats, is pushed by two Democrats in the Republican-led House, Representatives Mike Quigley of Illinois and Tim Walz of Minnesota.

The New York State Department of Taxation and Finance said Monday it has begun issuing the first income tax refunds of 2014 for taxpayers who used an online free tax service provided by the state.

Ten years ago, Congress passed a law intended to penalize chief executive officers whose companies shift their legal addresses to tax havens.

The National Society of Accountants is worried about the impact of the budget cuts on the Internal Revenue Service’s ability to send out tax refunds and help taxpayers, and is sending a letter to the chairman of the House Financial Services and General Government Appropriations Subcommittee to outline its concerns.

Here is a one-question multiple choice quiz for all return preparers.

The Internal Revenue Service plans to send expiration letters next week to tax practitioners who have not renewed their Preparer Tax Identification Numbers for 2014.

The Internal Revenue Service recently drafted Affordable Care Act regulations that offer some insight into what will be the associated monetary penalties for individuals who do not take up health care coverage.

The U.S. Departments of Treasury and Education are partnering with accounting and tax software developer Intuit to raise awareness of income-driven repayment plans and other repayment options for federal student loan borrowers.