Tax

While tax experts are divided on the immediate future of tax rates as we approach the fiscal cliff (the combination of scheduled tax rate increases and spending cuts by the government), the consensus is that rates will indeed rise precipitously.

There were 62 percent more indirect tax changes worldwide in the third quarter of this year than during the same period last year, according to a new report.

The option of allowing taxpayers to split up their tax refunds into different accounts has increased the risk of fraud, perhaps even among IRS employees, according to a new government report.

Hurricane Sandy has proven to be one of the most costly storms in U.S. history. Now being dubbed Superstorm Sandy, the aftermath has many of us questioning our own disaster preparedness.

President Obama urged Congress to agree to a deal to extend the Bush-era tax rates for the middle class on Wednesday, while agreeing to consider other tax reform measures for wealthier Americans.

Nearly eight in 10 small business owners are aware of the so-called “fiscal cliff,” according to a new poll that also found they are concerned about the impact of the combination of tax increases and automatic spending cuts that are set to take effect on Jan. 1 if Congress and the President can’t agree on a plan to reduce the deficit by year’s end.

Lowering the corporate tax rate on retailers could create more than 327,000 jobs in the first year, save consumers $10.2 billion, and increase salaries and wages by more than $10 billion, according to a new study by PricewaterhouseCoopers, commissioned by a retail trade group.

The Internal Revenue Service has made progress in deploying its Modernized e-File system, according to a pair of new government reports, but unresolved performance issues are hampering the retirement of its older legacy systems for processing tax returns.

With tax cuts galore expiring at the end of the year, and steep cuts in both defense spending and discretionary spending on the horizon, Democrats and Republicans in Washington are doing a complicated dance at the edge of the so-called fiscal cliff.

White House officials have quietly lobbied Wall Street and the business community over the last several months to support President Barack Obama’s plan to impose higher taxes on the wealthy to cut the deficit and avert going over the fiscal cliff.