Tax

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Although the legislative trends decided by next month’s elections won’t be known until the lame duck session of Congress and later, based on what we know now it may be a good time to consider selling a small business.

The Internal Revenue Service said Thursday that more than two dozen tax provisions will be adjusted for inflation for tax year 2013.

President Barack Obama and his Republican rival, former Massachusetts Governor Mitt Romney, engaged in a lively and at times ferocious debate that covered a range of topics, including taxes, the economy, Libya and women’s health.

A circuit court has ruled that severance payments given to employees are not taxable, a decision that could have far-reaching implications.

Financial executives who manage corporate treasuries are becoming increasingly concerned about the so-called “fiscal cliff,” the combination of tax increases and steep spending cuts that are due to occur at the end of the year unless Congress and the administration act to prevent them.

Tax technologies concern New River Innovation has released Beyond415 Guidance, a Web-based research center for resolving issues after tax filing.

The Internal Revenue Service is paying millions of dollars every year in unnecessary interest payments due to delays in processing net operating loss cases within the required 45 days, according to a new government report.

Facebook has reportedly paid only about $315,000 in taxes in the United Kingdom last year, even though the social networking giant reported U.K. revenues of about $32.8 million and is estimated to have earned over $281 million in the U.K.

Vice President Joe Biden sparred with Republican vice presidential candidate Paul Ryan in a lively debate over taxes, foreign policy, the economy, Medicare and Social Security.