Tax

A new report from the Congressional Budget Office found that the top 10 tax expenditures are distributed unevenly across the income scale, with much of the benefit going to the top-earning 1 percent of the population.

Switzerland proposed a bill that it says will provide the legal basis for the country’s banks, including Credit Suisse Group AG and Julius Baer Group Ltd., to resolve a tax-evasion dispute with the U.S.

Privately held retailers are operating with relatively thin profit margins nearly four years after the end of the recession, and some analysts say costs could go up and pinch margins even more if Congress approves the latest effort to get more retailers to collect taxes on their online sales.

The European Council of Ministers has agreed to take steps to combat the use of corporate tax strategies that shift profits to low-tax countries to avoid paying taxes.

What do the Senate hearings on offshore profit shifting and a Supreme Court case decided on May 20, 2013 have in common? They both are generated by our system of taxing U.S. companies on their worldwide income, and they both are the result of the companies meeting their obligations to their shareholders, which is to legally minimize the amount of taxes they pay.

A pair of lawmakers have introduced legislation to end a tax break that favors foreign-controlled insurers over U.S. insurers.

Understanding the detailed requirements of the health care reform law, and the potential penalties of noncompliance presents, challenges to accountants who are trying to advise their business clients about the Affordable Care Act.

The largest single variable in housing tax credit pricing is a function of the Community Reinvestment Act’s investment test value of a given property’s location, according to a new report.

A group of CPAs headed to Capitol Hill yesterday in what has become an annual ritual as they pressed lawmakers to deal with the many issues that accountants and their clients are forced to wrestle with on a daily basis, including taxes and regulations.

Updated statistics from the IRS show continued growth in e-filing of returns.