Tax

Owning your own home opens the door to many tax-saving opportunities, and there are a dozen tax breaks that homeowners should know about, according to CCH.

House Ways and Means Committee Chairman Dave Camp, R-Mich., said Wednesday the Senate should act on the 1099 repeal bill approved by the House and send the bill to President Obama’s desk for his signature this week.

Recent policy changes in areas such as cost basis reporting, the Foreign Account Tax Compliance Act, and the Regulated Investment Company Modernization Act of 2010 are likely to create significant compliance, reporting and monitoring risks and consume resources as companies continue to move toward economic recovery, according to KPMG.

A bipartisan pair of senators introduced a bill Wednesday that would repeal the Volumetric Ethanol Excise Tax Credit, saying it would save taxpayers $6 billion.

IMGCAP(1)]I know, I know, it’s called busy season for a reason. But if you think about it, busy season is really the best time for you and your firm to market your services.

The Senate passed a patent reform bill on Tuesday that contains provisions banning patents on tax strategies.

The Senate Finance Committee held hearings Tuesday to consider the Tax Code’s effect on job creation and economic growth.

The Internal Revenue Service has undercut the effectiveness of its electronic filing mandate because of the legal interpretation of the word “file,” according to a new government report.

President Obama credited the tax cut extension deal he forged with Congress for helping to turn around the unemployment problem.

H&R Block has teamed up with the mobile personal finance service Pageonce to provide a tool that allows do-it-yourself filers to track the status of their tax refunds from a mobile device.