Tax

IRS Commissioner Doug Shulman warned tax executives that they face substantial tax risks from uncertain tax positions, international enforcement efforts, and impermanent tax credits that expire every year or two.

The Internal Revenue Service offered advice Wednesday to unemployed taxpayers on how they and their tax preparers should report unemployment benefits on their tax returns.

U.S. lawmakers reached a tentative deal on Tuesday on legislation aimed at boosting the economy by extending a payroll tax cut for 160 million workers through this year and continuing long-term jobless benefits, congressional aides said.

CCH has introduced CCH Integrator, which combines the company’s tax research products with other tax compliance products for multinational corporations.

Treasury Secretary Tim Geithner told a Senate panel that the Obama administration plans to introduce a series of proposals to reform the corporate tax laws.

After months of wrangling, congressional leaders appear to be close to a deal on extending the payroll tax cut, unemployment benefits, and the so-called “doc fix” for Medicare physician reimbursements through the end of the year.

Rep. Sander Levin, D-Mich., the ranking Democratic member on the tax-writing House Ways and Means Committee, introduced legislation Tuesday to tax the carried interest earned by hedge fund managers, private equity firm partners, venture capitalists and others at the same tax rates as ordinary income.

The Internal Revenue Service has released a set of proposed regulations expanding the list of tax return preparers who may obtain and renew a Preparer Tax Identification Number.

President Barack Obama's 2013 election-year budget took investors by surprise with a call for significantly higher taxes on dividends, a major change from his earlier tax proposals and one that will raise the ire of dividend-paying companies.

The Obama administration has increased its budget request for the Internal Revenue Service for fiscal year 2013 to approximately $12.8 billion to make up for recent budget cuts.