Tax

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.

A pair of U.S. lawmakers has introduced a bill that would allow the courts to intercept tax refunds from delinquent debtors who owe restitution to victims or have outstanding court fees.

Web-based sales and use tax compliance product developer Avalara announced an integration of its sales tax calculation and reporting product AvaTax Calc for Retail with Microsoft Dynamics AX.

The Internal Revenue Service has warned that tax refunds may be delayed for paper-based tax returns in the event of a government shutdown.