Tax

The American Institute of CPAs and 18 other groups have written a letter to congressional leaders encouraging them to ban tax strategy patents before adjourning.

Senate Republicans blocked a bill on Tuesday that would have denied tax breaks to companies that move jobs offshore and provide companies with a two-year holiday from their share of Social Security payroll tax withholding for each employee they hire to replace a worker at a foreign-based facility.

The Senate debated a bill on Monday that would give companies a two-year holiday from their share of Social Security payroll withholding for each employee they hire to replace a worker at a foreign-based facility.

The Internal Revenue Service said that individuals and businesses will no longer receive paper income tax packages in the mail.

A Kansas company has created a national online marketplace for matching buyers and sellers of transferable state tax credits.

Senate Democrats plan to hold a vote on the Bush tax cuts extension soon after the mid-term election in November, congressional leaders indicated.

Senate Democrats have decided to wait until after the mid-term election in November to hold a vote on legislation to extend the Bush tax cuts of 2001 and 2003, which are due to expire at the end of this year.

The Senate Finance Committee held hearings Thursday on tax reform and the lessons learned from the Tax Reform Act of 1986 in the wake of a recently published report from a presidentially appointed panel.

The Internal Revenue Service’s Modernized e-File system is facing “significant challenges” processing individual tax returns, according to a new government report.

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.