Tax planning

Sen. Carl Levin, D-Mich., and John McCain, R-Ariz., have introduced legislation aimed at curbing excessive corporate tax deductions for stock options.

IMGCAP(1)]Part of a CPA’s job is to evaluate the potential tax benefits of various business and estate planning strategies.

House Democrats’ proposal for a surtax on upper-income taxpayers to help pay for health insurance reform would not have a noticeable impact on small businesses, according to a new report from the advocacy group Citizens for Tax Justice.

Fifteen states and the District of Columbia will be offering tax holidays for back-to-school shopping on various days this month and next, according to a report by CCH.

Recent changes in the tax treaty between the U.S. and Canada will have an impact in a variety of areas, including 401(k) contributions and stock options, as well as the ability of taxpayers to move across borders.

Small-business owners and industry representatives told a House committee that the tax breaks in the stimulus package passed by Congress in February have helped some companies.

House Democrats have introduced health care legislation that would impose a surtax on upper-income taxpayers, and penalties on many small businesses that don’t provide health insurance coverage to employees.

The TV networks have been on a letter-writing campaign lately in an effort to dissuade Congress from ending the expensing of ads by pharmaceutical companies.

House Ways and Means Committee Chairman Charles Rangel, D-N.Y., has been called to the White House to discuss his proposed surtax on the wealthy to pay for health insurance reform.

Entrepreneurs urged lawmakers to extend the research and development tax credit at a House subcommittee hearing Thursday.

Sen. Charles Grassley, R-Iowa, has introduced a bill to lower the tax burden on small businesses.

New Jersey Governor John Corzine must be breathing a sigh of relief now that his state has recovered over $625 million from a tax amnesty program.

A new analysis by a former high-ranking IRS official explains how the Tax Code’s corporate reorganization provisions afford tax-free treatment to certain corporate combinations and realignments.

Typical end-of-year tax planning will be on everyone’s minds before you know it.

The U.S. and Swiss governments have concluded their negotiations over expanding the sharing of tax information to root out tax dodgers, and now plan to sign a protocol in the next few months.

The Senate Finance Committee held hearings to learn more about the tax implications of climate change legislation, including whether companies should be taxed for carbon emission allowances.

A new appeals court ruling could make it easier for companies to claim research and development tax credits from the IRS by allowing them to rely on oral testimony instead of a project expense-tracking system.

Sen. Johnny Isakson, R-Ga., has introduced a bill that would increase the maximum amount of the first-time homebuyer tax credit from $8,000 to $15,000.

Minority-owned businesses were less successful in obtaining awards from the Treasury Department’s New Markets Tax Credits program than non-minority entities in recent years, according to a new government report.

An influential group of financial executives is urging Congress to oppose the Obama administration’s proposals for reforming the corporate tax system, especially the rules used by multinational companies to defer paying taxes on foreign earnings.