Tax

President Obama said in his weekly address Saturday that Congress will be voting in the weeks ahead on the Buffett Rule, which would raise taxes on the wealthy.

The U.S. is set to have the highest combined federal and state statutory corporate tax rate in the industrialized world on Sunday, April 1, once Japan drops its top rate to 38.1 percent.

The Internal Revenue Service said it is giving an extension to enrolled agents whose renewal applications for their enrollments have been delayed due to a processing delay.

There’s good news and bad news to be found in the predictions of the tax business executives polled in the Tax Policy Forecast Survey.

The House has passed a Republican-sponsored budget alternative to President Obama’s fiscal 2013 budget, mostly based on the plan put forward by House Budget Committee Chairman Paul Ryan, R-Wisc., for creating only two tax brackets of just 10 and 25 percent.

Tax & Accounting business of Thomson Reuters has renewed and expanded its agreement with the Tax Executives Institute, an international association of 7,000 corporate tax professionals.

A trio of House Democrats have introduced a bill that would provide tax relief to homeowners who were wrongly foreclosed upon and receive money from the recent nationwide mortgage foreclosure settlement.

When someone drives down the highway and spots a police car on the side of the road, a sense of paranoia overwhelms the individual even though no law has been broken.

The House Ways and Means Committee has passed a Republican-sponsored bill aimed at reducing taxes for small businesses that would also benefit larger companies.

The Internal Revenue Service said Tuesday that it would provide penalty relief to farmers who incurred estimated tax penalties because they did not receive their 1099 forms from MF Global or the bankrupt financial firm’s court-appointed trustee on a timely basis.