Tax

The Treasury Department released a model intergovernmental agreement Thursday for implementing the Foreign Account Tax Compliance Act, developed in consultation with France, Germany, Italy, Spain and the United Kingdom.

Democrats on the House Ways and Means Committee introduced two pieces of legislation Thursday to provide tax credits for clean energy manufacturing and renew the Build America Bonds program.

The Senate voted mostly along party to pass a Democratic bill to extend the Bush tax cuts for household incomes below $250,000 a year after rejecting a Republican bill to extend them for taxpayers at all income levels.

The Accounting Today Institute has created an online bundle of 15 hours of continuing education aimed specifically at meeting the requirements the IRS has established for registered tax preparers.

The Senate Finance Committee held a hearing Wednesday to look at access to education and tax reform, whether the complex array of tax incentives are contributing to the increasing cost of a college education.

With an eye toward wins in the November elections, House Republicans introduced legislation Tuesday that aims to streamline the procedures for enacting tax reforms next year.

The House Judiciary Committee held a hearing Tuesday on legislation to force online retailers to charge sales taxes to customers, even as industry groups banded together to oppose the bill and others like it.

Democrats on the House Ways and Means Committee introduced legislation Tuesday to extend the Earned Income Tax Credit, the Child Tax Credit and the American Opportunity Tax Credit for tuition and related expenses.

House Republicans introduced legislation Tuesday to prevent the Bush tax cuts from expiring.

An increasing number of business entities, including investment funds like the Carlyle Group, along with private hedge funds, private equity firms and venture capital funds, largely escape Internal Revenue Service audits due to the way they are organized, according to a new report.