Tax

Sen. John McCain, R-Ariz., has a novel idea. Instead of allowing $500 billion of cuts in the defense budget to go forward as part of last year’s deficit reduction deal, he wants to use money saved from closing tax loopholes.

KPMG LLP has launched a new service, Operational Transfer Pricing, to help multinational companies better navigate the growing risks they face with intercompany transactions internationally.

Leaders of the Senate and House committees charged with tax policy plan to hold a rare joint hearing next Thursday on tax reform and the tax treatment of capital gains.

I’m no fan of complexity, in taxes or any other area. But, as in most situations, there’s a silver lining.

The Internal Revenue Service needs to do a better job of estimating its staffing needs for implementing the Affordable Care Act, according to a new government report.

A group of Democrats on the House Ways and Means Committee have introduced a bill to extend 100 percent bonus depreciation through 2012 to encourage capital investments and job growth.

The Tax & Accounting business of Thomson Reuters has introduced a new cloud-based professional tax software line, Agile Tax.

KPMG has introduced an online resource that examines how tax authorities in 18 different countries are dealing with the challenge of taxing cloud computing services.

Thomson Reuters has released mobile versions of Thomson Reuters Checkpoint, the online service that provides research, news, analysis and productivity tools to tax, accounting, trade and finance professionals, for smartphones and tablets.

While I’ve not yet been the victim of identity theft, the possibility—and the consequences—are beginning to loom.