Tax

Senate Minority Leader Mitch McConnell, R-Ken., said he expects President Obama to call for lowering the corporate income tax rate during the president’s State of the Union address on Tuesday evening.

A whistle-blowing former Swiss bank executive has handed over two CDs containing the names and account holdings of more than 2,000 high net worth American, European and Asian customers to WikiLeaks founder Julian Assange.

Three Democratic Senators have written a letter to House Speaker John Boehner, R-Ohio, urging him to fix the 1099 reporting requirement in the health care reform law, and have pledged speedy action in the Senate if he does.

With nine out of 10 families either hiring tax preparers or purchasing tax software in order to file their taxes, it is clear that the Tax Code is too complex, too time-consuming and too costly for our families and businesses. So says Dave Camp, R-Mich., the new chairman of the House Ways and Means Committee.

Senate Finance Committee Chairman Max Baucus, D-Mont., and ranking member Chuck Grassley, R-Iowa, released the language of legislation they intend to introduce that would eliminate the patenting of tax strategies, a key priority of the American Institute of CPAs.

Intuit has made several updates to its ProLine Tax Online tax prep application for this tax season.

Valentine’s Day will turn into Tax Day as the Internal Revenue Service plans to begin processing tax returns delayed by last month’s tax law changes on Feb. 14.

All taxpayers can now e-file a federal return for free with TaxACT, an online service from 2nd Story Software that files returns to the IRS allowing for refunds in as few as eight days with direct deposit.

The Internal Revenue Service opened its 21st season of electronic filing Friday with a reminder to taxpayers that e-file remains the best way to get fast refunds and ensure accurate tax returns, particularly following several tax law changes in December.

The Internal Revenue Service opened its Free File program Friday for the ninth year, offering free tax preparation and electronic filing to taxpayers.