Tax

H&R Block shares fell Monday after it received notice from HSBC that the bank is immediately terminating refund anticipation loans and refund anticipation checks for Block as a result of a regulatory directive from the Office of the Comptroller of the Currency.

Personal exemptions and standard deductions will rise and tax brackets will widen due to inflation in 2011, the Internal Revenue Service said Thursday.

Following last week’s tax law changes, the Internal Revenue Service announced Thursday the upcoming tax season will start on time for most people, but taxpayers affected by three recently reinstated deductions need to wait until mid- to late February to file their individual tax returns.

BNA Software has released a new version of its income tax-planning application to help the clients of accountants and tax practitioners plan around the changes in the tax cut extension law.

Changes to tax provisions in a bill providing health coverage for 9/11 emergency responders helped enable the legislation to pass Congress despite the opposition of some leading Republican lawmakers.

The Internal Revenue Service has released a new form that will allow tax preparers to request a hardship waiver to exempt them from the IRS’s new electronic filing requirements.

Vice President Joe Biden indicated the Obama administration intends to limit the newly extended tax cuts when they come up again for renewal in 2012.

The Tax & Accounting business of Thomson Reuters has added global financial data from Reuters and expanded report-writing features to its transfer pricing software for multinational companies.

Intuit has been closely monitoring congressional and IRS activity on the tax extension legislation passed by Congress late Thursday night and said it has completed various scenario plans and programmed its professional tax software applications to be prepared for all the latest tax law changes.

With just weeks to go before the end of the year, Congress has cleared tax relief legislation extending the Bush-era individual and capital gains and dividend tax cuts for all taxpayers for two years, as well as a 13-month extension of unemployment benefits.