Tax

Leaders of the Senate Finance Committee said Thursday they plan to begin developing a proposal for overhauling the nation’s Tax Code.

Tax software developer Greatland Corporation has outlined a plan to further accelerate growth through strategic acquisitions during 2013.

A majority of business leaders believe tax reform should be separated from reforms to government entitlement programs and deficit reduction, according to a new poll.

The Internal Revenue Service has found that changes in Form 8863, Education Credits, are delaying more than 600,000 tax returns, many of which appear to come from H&R Block.

Ten multinational U.S.-based corporations, including Apple, Merck, Microsoft and Pfizer, each increased their foreign profits by $5 billion or more last year, continuing a trend in which U.S. corporations held more of their money in low-tax countries.

House Republicans and Senate Democrats are introducing competing budget plans with starkly different tax proposals.

The chairman of the tax-writing House Ways and Means Committee, Dave Camp R-Mich., released a set of proposals Tuesday discussion draft aimed at reforming the tax laws for small businesses.

John Paulson, a lifelong New Yorker, is exploring a move to Puerto Rico, where a new law would eliminate taxes on gains from the $9.5 billion he has invested in his own hedge funds, according to four people who have spoken to him about a possible relocation.

A federal court has denied for a second time H&R Block’s attempt to prevent Intuit from airing two TV commercials for TurboTax that poke fun at part-time tax preparers who work for retail tax chains like Block.

The IRS recently made it clear that even if taxpayers engage a third party to perform a cost segregation analysis, they cannot avoid penalties for aggressive positions taken in the cost segregation report.