Tax

With many indications showing that the Internal Revenue Service is behind in the number of tax returns filed so far this year compared to last year, Liberty Tax Service reported positive growth Wednesday in revenue, same-store sales and tax returns filed.

President Obama has launched a new initiative to fund small business entrepreneurs known as Startup America, which sounds like something that might better belong on Sand Hill Road in Silicon Valley than on Pennsylvania Avenue in Washington.

While the late December tax cut extension slowed down the beginning of tax season for some, it brought a welcome degree of certainty to the tax landscape.

Now that the drama has ended and year-end legislation to extend the Bush-era tax cuts has been enacted, work remains for those "in the trenches" to sort out appropriate reactions. For most businesses, the response will be multifaceted.

CCH has integrated its ProSystem fx Tax software with its Web-based Global Integrator system.

Jackson Hewitt Tax Service filed a lawsuit Monday against H&R Block claiming that Block is disseminating “false, misleading and highly disparaging advertising claims about Jackson Hewitt.”

The Obama administration proposed permanently eliminating capital gains taxes on some types of small business investments held for over five years.

Online tax preparation site FreeTaxUSA said it now supports all 42 states with a state income tax.

The Internal Revenue Service and its partners nationwide marked the 5th Earned Income Tax Credit Awareness Day on Friday.

The deficit reduction panel called for tax reform, as did the National Taxpayer Advocate and the House Ways and Means Committee. Now, President Obama has added his voice to the mix with his State of the Union address.