Tax

New York Governor David Paterson is trying to close a record deficit of $15.4 billion with 137 new tax and fee increases, including a new tax on sugary sodas.

The National Retail Federation has asked President-elect Barack Obama to include a series of sales tax holidays within the economic stimulus legislation he is drafting with Congress.

There are possible tax strategies that are particularly suited to the times that we are in. Here are two that I keep seeing, with the latest in a press release from a major tax publisher. According to analysts with the Tax & Accounting business of Thomson Reuters, C corporations may secure a refund of overpaid estimated taxes, or use projected current-year NOL to offset taxes owed for the previous year.

The Internal Revenue Service is changing its lockbox payment addresses in five states for individual taxpayers and 23 states for business taxpayers in the New Year.

Edward Mendlowitz, a partner at accounting firm WithumSmith+Brown, outlined a series of tax strategies that could help offset the staggering losses incurred from investments with Bernard Madoff’s scandal-scarred securities firm.

The Internal Revenue Service has issued proposed regulations that provide rules for assessing penalties against tax advisors who fail to file a true and complete tax return on a timely basis.

Rap singer Doug E. Fresh is facing tax liens from the federal and state government, along with foreclosure of three homes.

Financial Executives International has named Marie N. Hollein as the organization's new president and CEO.

Three of the remaining four defendants in the KPMG tax shelter case were convicted of tax evasion charges.

Tax executives in both the United States and other countries said they are spending more time than ever on risk management, according to a new survey.