Tax

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.

Republican vice presidential candidate Paul Ryan paid effective federal tax rates of 20 percent in 2011 and 15.9 percent in 2010, tax returns released Friday night show.

Tax and accounting solutions provider CCH Small Firm Services has launched a new resource center to help tax and accounting professionals improve their marketing and increase their knowledge of the field.

To maximize your accounting firm’s overall efficiency, effectiveness and productivity in researching and resolving a tax issue and determining the sustainability of a client’s tax return filing position, the appropriate tax research processes must be meticulously designed, implemented and executed.

PTINdirectory.com has launched a searchable database of more than 700,000 federally-registered tax preparers. Preparers can be found by IRS-sanctioned credentials and industries, as well as by services offered and geographic criteria.

The Tax Court has applied the “self-rental rule” to recharacterize the income that the taxpayer-owner of a trucking company received from a separate leasing company that he owned as nonpassive income.

Rep. Paul Ryan, R-Wis., Mitt Romney’s choice as vice presidential running mate, said he planned to release two years of tax returns to the public, even though he submitted several more years of tax returns to the Romney campaign during the vetting process.

President Barack Obama’s re-election campaign stepped up its attacks on Republican rival Mitt Romney’s tax history with a new negative ad highlighting Romney’s tenure as head of the audit committee of Marriott International during a period when the committee used a tax shelter that has since been ruled illegal.

The tax preparation software industry experienced minimal overall growth over the past five years, averaging only 0.1 percent annually to reach an estimated $2.4 billion in 2012, according to new research.

Tax credits and deductions for education are too complicated and so confusing that most taxpayers cannot determine which provisions are best for them, the American Institute of CPAs said in written testimony to the Senate Finance Committee.