Tax

While lawmakers have pledged to patch the Alternative Minimum Tax this year, there remains plenty of uncertainty in the current tax landscape.

Proprietary tax research platforms continue to grow despite the availability of free searches and materials over the Internet, with all the major publishers of Internet-based research reporting growth.

Former President Bill Clinton stood alongside President Barack Obama at a news conference and endorsed Obama’s deal with congressional Republicans to extend the Bush-era tax cuts and unemployment benefits.

Senate Majority Leader Harry Reid, D-Nev., has introduced a bill to extend the Bush tax cuts and unemployment benefits.

House Democrats met Thursday and overwhelmingly voted to block the Bush tax cut extension compromise announced earlier in the week by President Obama and Republican congressional leaders.

President Obama’s announcement on Monday of a compromise agreement with the Republican leadership should bring some end-of-year certainty to the tax landscape, but questions remain.

Edward S. Karl, vice president of taxation for the American Institute of CPAs, will host the U.S. Small Business Administration’s year-end tax-planning Web chat on Thursday.

The Tax & Accounting business of Thomson Reuters is launching its first-ever series of federal tax eBooks, the first of which will be released on Friday.

President Obama held a news conference in which he sought to quell criticism from lawmakers from his own party of the deal he had struck with Republicans to preserve the Bush tax cuts even for upper-income earners for two more years.

Despite confusion created by recent and probable year-end tax legislation changes, the 2010 federal income tax environment is still quite favorable.