After achieving its strongest e-filing tax season to date with more than 11 million tax returns transmitted through its ProSystem fx Tax and Global fx Tax compliance solutions, CCH has earned a 97-percent electronic acceptance rate for federal 1040 individual tax returns and a 98-percent electronic acceptance rate for federal business tax returns, according to the Internal Revenue Service’s Software Error Reject Code Report.

President Obama took Republican lawmakers to task during a news conference Wednesday for inflexibly refusing to compromise on taxes as part of a deal to raise the debt limit.

U.S.-based multinational corporations and their lobbyists are pushing hard for a so-called “tax holiday” that would repatriate the earnings from their foreign subsidiaries, arguing that it would inject up to $1 trillion into the U.S. economy, but the prospects for job growth are murky at best.

California Governor Jerry Brown and Democratic lawmakers have struck a deal to close the state’s estimated $15 billion budget deficit, including provisions to force online retailers like Amazon.com to collect sales tax from customers.

Governments around the world are either increasing indirect taxes such as value-added taxes or introducing them for the first time.

House Majority Leader Eric Cantor, R-Va., has exited from negotiations over resolving the problem of the looming debt ceiling, saying he is unable to agree to any tax increases.

Better implementation by the Internal Revenue Service of two 2008 laws involving reporting of cost basis and transaction settlement could increase taxpayers’ voluntary compliance, according to a new government report.