Tax

The Public Company Accounting Oversight Board has scheduled a meeting for Tuesday and will vote on finalizing two rules proposed in December and March. One rule deals with auditor independence and tax shelters, while the second concerns weak internal controls.

Taxpayers and tax professionals who filed for an extension can use e-file to file their 2004 tax returns, according to the Internal Revenue Service.

The government's Base Realignment and Closure Commission voted unanimously on Tuesday to review a Pentagon plan to move thousands of Defense Department finance and accounting jobs.

Already with a lengthy to-do list before adjourning for its August recess, reports have Congress moving to address the future of the estate tax soon.

A group of congressional representatives has asked the Internal Revenue Service to hold off on plans to shut down 68 of the agency's Taxpayer Assistance Centers.

Reports are that lobbyists for Accenture Ltd. will be successful in convincing congressional tax writers to make small changes in a technical corrections bill that would that ensure the consulting group is grandfathered in under a corporate tax bill originally passed in 2004.

The White House midyear budget says that an increase in tax revenues, mostly coming from relatively wealthy taxpayers, along with a good stock market performance, will drop the deficit to $333 billion this year.

Corporate officers or authorized agents can now sign employment tax forms by facsimile, including alternative signature methods such as computer software programs or mechanical devices.

The Financial Accounting Standards Board published a draft of a proposed interpretation, "Accounting for Uncertain Tax Positions," yesterday. The draft seeks to reduce the diversity in practices associated with recognition and measurement in the accounting for income taxes.

Avalara, a provider of Web-based sales tax solutions for the small and midsized business market, and Taxware, a provider of global transaction tax calculation and compliance software, have entered into a strategic partnership.