Tax

President Barack Obama pressed for passage of his jobs bill, promising a boost in the economy in exchange for higher taxes on the wealthy.

The Tax & Accounting business of Thomson Reuters has introduced Interactive Decision Tools for its Checkpoint research service to help tax, accounting and audit professionals solve challenging issues.

State tax revenues increased 10.8 percent in the second quarter of 2011, but revenues for local governments headed in the opposite direction.

CCH Small Firm Services is partnering with Versicom Communications on communication services that tax professionals can offer to their clients.

An advisory committee cautioned the Internal Revenue Service that implementation of the Foreign Account Tax Compliance Act could run afoul of foreign laws.

House Ways and Means Committee Chairman Dave Camp, R-Mich., has released a discussion draft version of proposed legislation to transition the U.S. from a worldwide system of taxation to a territorial system, while lowering the top tax rate for both individuals and businesses to 25 percent.

PricewaterhouseCoopers has published the firm’s annual guide to tax and wealth management, “Managing Your Wealth.”

Tax 2.0, a new tax-focused online community, is set to make its official debut later this month.

The Internal Revenue Service is facing challenges keeping ahead of financial services companies that create sophisticated financial derivatives and offer them as a way to evade tax liabilities.

The Internal Revenue Service is gearing up to handle the complex tax provisions of the health care reform law and has made significant progress so far in planning for the law’s implementation, according to a new government report.