Tax

CCH has added Smart Charts, checklists and decision trees to its Business Entity Planning Library to provide further guidance to tax practitioners analyzing and comparing the entities used by small- and midsized businesses.

Government tax authorities around the world are requiring multinational companies to provide more documentation to support their transfer pricing strategies as countries seek additional tax revenue.

CCH’s Tax Prep Partner series has expanded to cover nonprofit, estate tax and payroll forms.

The House voted to approve health care reform, moving the legislation now to an uncertain outcome in the Senate.

President Barack Obama has signed the extension of the First-Time Homebuyer Tax Credit, along with an extension of unemployment benefits.

The Senate voted by a 98-0 margin to extend the First-Time Homebuyer Tax Credit while also expanding the credit to existing homeowners who want to move to another residence.

Lee Zoeller, a partner at the international law firm Reed Smith LLP, recently began leading the Institute for Professionals in Taxation.

During the downturn, many practitioners have found it necessary to brush up on the loss-deduction rules. When the economy is humming, an overabundance of income is usually available to offset any loss that might surface. When times get tough, however, a variety of loss-limiting rules under the Tax Code suddenly demand some attention. The "basket" approach to figuring out what loss can offset what income can be useful under these circumstances, especially as year-to-year tax planning may be available to offset the offsets.

IRS DROPS ACORN

Tax prep software vendors are counting on an upswing in the professional tax preparation market to fuel their own growth during the upcoming tax filing season.