Tax

A group of millionaires visited the halls of Congress in an effort to convince lawmakers to raise tax rates on incomes of $1 million a year or more.

The House overwhelmingly passed legislation repealing the 3 percent withholding mandate on government contractors, along with a tax credit for hiring veterans.

The November 23 deadline for Congress’s deficit reduction “supercommittee” is only about a week away and effectively a few days less.

The deficit reduction “supercommittee” in Congress appears increasingly unlikely to make any decisions on taxes before its impending deadline.

A new report from a Republican lawmaker details how, under the current Tax Code, the federal government is giving away billions of dollars to millionaires, subsidizing their lifestyles with taxes paid by the less well-to-do.

IMGCAP(1)]I propose a six-point plan to improve the U.S. economy:

CCH provided advice on year-end tax strategies that, if implemented before a taxpayer’s liability is finalized, could make a significant difference in what they owe as tax year 2011 draws to a close.

Check out the digital edition of the November 2011 issue of Accounting Today.

Commissioner Doug Shulman has presided over the continued reorganization and modernization of the Internal Revenue Service since March 2008.

The Senate failed to advance an infrastructure jobs bill Thursday that would have been paid for through higher taxes on millionaires.