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.

Senate Minority Leader Mitch McConnell, R-Ken., said he expects President Obama to call for lowering the corporate income tax rate during the president’s State of the Union address on Tuesday evening.

A whistle-blowing former Swiss bank executive has handed over two CDs containing the names and account holdings of more than 2,000 high net worth American, European and Asian customers to WikiLeaks founder Julian Assange.

Three Democratic Senators have written a letter to House Speaker John Boehner, R-Ohio, urging him to fix the 1099 reporting requirement in the health care reform law, and have pledged speedy action in the Senate if he does.