Tax

The Senate Finance Committee has released the legislative text of the tax extenders bill, spelling out the reasons for extending certain tax breaks or for letting them expire, along with dissenting views from a trio of senators.

Republicans are pitching their tax overhaul plan on the appeal of lower rates and a simpler system—and figuring that voters won’t mind the lack of details about the potential pain.

Thomson Reuters has posted a new series of blog articles for users of its UltraTax CS software with advice on how they can take advantage of the software’s data mining features to help their clients navigate the possible tax law changes coming next year.

The Internal Revenue Service is making progress toward its goal of processing tax returns on a daily basis, according to a new report.

As schools prepare to reconvene across the country, tax preparation chain Jackson Hewitt Tax Service is reminding taxpayers of a number of education-related tax credits and deductions.

Republican presidential candidate Mitt Romney and his wife, Ann, have used sophisticated estate- planning techniques for more than a decade to minimize taxes and amass at least $100 million for their family outside of their estate.

Three Republicans from the House Committee on Oversight and Government have written a letter to IRS Commissioner Doug Shulman demanding he explain a recent rule that would extend tax credits to individuals who buy health insurance from an exchange set up by the federal government when their state has failed to set up such an exchange.

CCH has released a special tax briefing providing guidance and analysis of the Internal Revenue Service’s temporary regulations for repairs of tangible property and how they may require companies to change their accounting methods.

The Internal Revenue Service is offering a sneak preview of its revamped Web site, which is slated to go live at the end of the month.

Intuit Inc. posted fourth quarter revenue of $651 million, up 14 percent from a year ago, with 64 percent of its overall revenue coming from connected services, compared to 50 percent during the year-ago period in 2011.