Tax

It’s doubtful whether the tax changes proposed by the President in his speech on Wednesday would generate much of a dent in the deficit, even if they were to be accepted by Congress.

The Internal Revenue Service issued final regulations Thursday lowering the initial enrollment and renewal of enrollment user fees for enrolled agents and enrolled retirement plan agents, and separating the enrolled retirement plan agent user fees from the enrolled agent user fees.

CCH has received Oracle’s nod for integrating two of its sales tax products with the latest Oracle E-Business Suite, allowing CCH to market the product specifically for Oracle users.

The National Association for the Self-Employed advised small business owners who have put off doing their tax returns not to panic.

The House Ways and Means Committee held a hearing Wednesday on how the Tax Code’s burdens on individuals demonstrate the need for comprehensive tax reform.

President Obama outlined his plan for reducing the budget deficit by $4 trillion in the next 12 years during a speech Wednesday in which he said taxes would need to be raised on the wealthy and itemized deductions limited.

A new study from Ernst & Young examines the impact on flow-through businesses of the tax reform proposals, and cautions against lowering corporate tax rates at the expense of S Corporations.

The Senate Finance Committee held a hearing Tuesday to examine tax administration systems around the world.

The Internal Revenue Service said Tuesday it expects to receive 10 million tax extension requests in 2011, approximately the same as last year.

Fewer workers this year plan to use their tax refunds to pay off their bills, and more plan to put the money into savings, according to a new survey.