Tax

The Internal Revenue Service said Tuesday that effective Oct. 1, 2012, applications to become an IRS e-file provider must be submitted online.

The House approved legislation last week that would allow federal employees with seriously delinquent tax debts to be terminated.

President Barack Obama criticized Republican rival Mitt Romney’s tax reform plans during a campaign appearance, referring to them as “Robin Hood in reverse” and “Romney Hood.”

Jackson Hewitt Tax Service has unveiled a mid-year list of top areas taxpayers should be considering or have pointed out to then by preparers to help put them in a better position when filing their tax returns next April.

Republicans, including Senator Lindsey Graham, accused Senate Majority Leader Harry Reid of lying by saying Mitt Romney hasn’t paid taxes for 10 years.

Newly introduced legislation would cut business taxes by more than half for companies that manufacture patented products in the U.S.

A proposal by the Obama Administration regarding grantor trusts has estate planners on edge as they ponder its implications.

The House passed Republican-sponsored legislation Thursday to streamline congressional procedures and pass comprehensive tax reform next year.

The Senate Finance Committee approved legislation Thursday extending dozens of tax cuts known as tax extenders, including the alternative minimum tax patch, which have either expired or are scheduled to expire at the end of the year, while paring back approximately 25 percent of the traditional tax breaks in the name of tax reform.

There were nearly four times the number of changes in indirect taxes such as sales and use taxes and value-added taxes around the world in the second quarter of this year, compared to the same period last year, according to a new report.