The Internal Revenue Service Statistics of Income Division has released its 2012 Summer SOI Bulletin, with a number of articles based on the most recent data available from various returns filed by U.S. taxpayers.

The top personal income tax area of concern for technology executives that CPA Bill Melton of the Silicon Valley accounting firm Abbott, Stringham & Lynch sees in his client base is equity compensation.

Cincinnati, Baltimore and Cleveland ranked highest among large cities in their tax favorability for businesses, according to a new study by KPMG, with New Orleans and Baton Rouge, La., leading the way among smaller cities.

RedGear Technologies, developer of TaxWorks professional tax software, and marketer Business Owners Advandage have launched an affiliate program for tax professionals to offer Deductr -- automated expense tracking tool for taxpayers.

The Senate Permanent Subcommittee on Investigations held a hearing on offshore profit shifting and the U.S. tax code, examining in particular the practices of Microsoft and Hewlett-Packard, while questioning an Ernst & Young tax partner who services HP.

Congress’s two tax-writing committees, the House Ways and Means Committee and the Senate Finance Committee, held a joint hearing Thursday to discuss capital gains taxes and how they might be reformed.

Government debt hit a record $16 trillion last week, accompanied by the usual calls for tax increases to help plug the gap between revenue and expenditures. But for those who believe that the way out of our deficit includes raising taxes, there’s a cautionary study that suggests otherwise.