Tax

Sen. Pat Roberts, R-Kan., and Rep. Tom Price, R-Ga., have introduced legislation in the Senate and the House to block foreign governments from collecting taxes on securities transactions.

The Obama administration has decided to postpone the employer responsibility payment and insurance reporting requirements under the Affordable Care Act for one year to give businesses more time to comply with the health care reform law.

The chairmen of Congress’s two main tax-writing committees in the House and Senate plan to begin a tour across the country visiting with taxpayers and businesses as they plan a major tax reform overhaul.

Profitable U.S. corporations paid only about 13 to 17 percent of their pretax worldwide income in U.S. federal income taxes, according to a new report from the Government Accountability Office based on data from the actual tax returns filed by the corporations.

The U.S. Supreme Court’s decision to overturn the core of the Defense of Marriage Act will narrow the financial gap between gay and straight couples.

The next time a client complains about the complexity of our tax system, tell them about the proposed financial transactions tax, or FTT. The European Union is moving close to agreeing on an FTT that at the beginning will apply to 11 member states, including France and Italy.

The two leaders of the Senate Finance Committee have offered to take a “blank slate” approach as a starting point for tax reform, in which there would be virtually no tax breaks available, and called on their Senate colleagues to provide suggestions on which tax provisions need to be added back and improved in a reformed tax code.

Investors have a bit more to ponder as the administration rolls out its tax program, designed to both address the federal budget deficit and promote economic development.

The inability of cities and local jurisdictions to collect existing sales taxes on Internet sales translates into billions of dollars in lost revenue, according to a new report from the U.S. Conference of Mayors, that found New York City, Phoenix and Chicago as the top money-losing cities.

The Swiss parliament rejected a bill designed to resolve a dispute over undeclared bank accounts held by U.S. citizens, potentially setting the stage for American prosecution of the country’s banks