Tax planning

IMGCAP(1)]Tax season is here. If you or your clients are among the thousands of Americans who have overpaid their annual tax obligation, you can look forward to a refund from the federal government.

The Senate Finance Committee held a hearing Wednesday on the effectiveness of various tax incentives.

General Electric is a company that has long been known for innovation going back to the days of founder Thomas Alva Edison, but now some of its greatest innovations may be in the way it avoids paying corporate income taxes.

A high-ranking Treasury Department official has come out against calls by some multinational corporations for a tax holiday on earnings repatriated from abroad.

The Congressional Budget Office has released a report on taxing the number of miles traveled by vehicles to help fund the highway system, as an alternative to raising fuel taxes.

More than three-quarters of oil and gas finance executives said transfer pricing was the most important tax issue they are facing, according to a survey by Ernst & Young.

One of the dilemmas facing many accountants and tax preparers this tax season is the problem of how to account for uncertain tax positions and deal with them on the IRS’s new Schedule UTP.

Rep. Jan Schakowsky, D-Ill., has introduced a bill that would levy taxes of 45 to 49 percent on millionaires and billionaires.

It’s comforting to know that tax reform is proceeding apace on several different fronts.

House Ways and Means Committee Chairman Dave Camp, R-Mich., has proposed reducing the top individual and corporate tax rate to 25 percent.

The House Ways and Means Subcommittee on Select Revenue Measures held a hearing Wednesday on the tax implications of a proposed bill aimed at preventing taxpayer money from being used to fund abortions.

A Tennessee congressman has introduced a bill that would allow the Internal Revenue Service to prepare taxes for a taxpayer.

State budget deficits are prompting governors to slash spending, but also shift the tax burden away from corporations.

The Joint Committee on Taxation, which operates under the auspices of the tax-writing committees of the Senate and the House, has been given the task of conducting specific research that will help advance the ability of Congress to enact comprehensive tax reform.

With the tax benefits of the 2009 stimulus ebbing, the tax burden is pushing slowly higher and is now at its highest level in two years, according to Deloitte. As the economy improves, more households are pushed into higher tax brackets, raising the government's take, the firm found.

Democratic and Republican lawmakers in the House and the Senate have re-introduced a bill that would impose a five-year moratorium on any new taxes or fees on wireless service.

A study of filing data for the small business health insurance tax credit finds that the tax credit amounts are often miscalculated.

The Senate Budget Committee held hearings on the distribution and efficiency of spending in the Tax Code.

Democratic lawmakers on the House Ways and Means Committee have introduced a new bill intended to finance infrastructure investments to create jobs.

Owning your own home opens the door to many tax-saving opportunities, and there are a dozen tax breaks that homeowners should know about, according to CCH.