The Small Business Tax Credit Calculator, developed by Tax Credits LLC, is able to complete lines 1 to 14 of Form 8941 for tax preparers in all 50 states.

President Obama placed an unusual degree of emphasis Tuesday during his State of the Union address on tax reform, and while there appears to be more bipartisan spirit in Congress in the wake of the tragic shootings in Tucson, the prospects for getting an agreement are murky at best.

President Obama urged Congress to work across party lines on an overhaul of both corporate and individual taxes to reduce tax loopholes during his State of the Union address on Tuesday night.

Senate Finance Committee member Chuck Grassley, R-Iowa, and chairman Max Baucus, D-Mont., have introduced a bill that would prevent any individual or firm from being able to receive patents on tax strategies.

Senate Finance Committee Chairman Max Baucus, D-Mont., and Senate Majority Leader Harry Reid, D-Nev., have introduced and pledged to pass a bill to repeal the expanded 1099 reporting requirements in the health care reform bill.

A Washington think tank, the Center for Economic and Policy Research, has released a report recommending a tax on financial speculation as a way to help solve the federal government’s long-term budget deficits.

The Internal Revenue Service has provided a dispensation for tax preparers who have tried unsuccessfully to register for a Preparer Tax Identification Number so they can go ahead and prepare tax returns for compensation, even though they have not yet received a PTIN.