Tax

Continued growth in the do-it-yourself tax prep market, ongoing federal and state e-filing mandates and the Internal Revenue Service's discontinuation of a debt indicator to facilitate refund anticipation loans will affect both preparers and their software providers during next year's filing season.

Where the tax burden falls

The unfinished business awaiting Congress during the lame duck session this month includes the expiring 2001 and 2003 tax cuts, the normal extender items, the estate tax, and, many tax professionals believe, a ban on tax strategy patents.

Here’s some good news for those who haven’t renewed their Preparer Tax Identification Number by the end of the year. The process to renew it will be the same beginning in January as it is now, and it takes only about 15 minutes to do online.

Nearly 99 million individuals filed their federal income tax returns electronically during 2010, a 3 percent increase in the IRS e-file rate, mainly due to taxpayers who prepared and filed their own taxes from their home computers.

H&R Block released an update on its lawsuit against its refund anticipation loan provider, HSBC, saying the two have been “in discussions.”

A bipartisan pair of U.S. senators has written to the co-chairmen of the federal deficit commission asking them to consider raising the gas tax to finance highway construction nationwide.

Payroll and benefits outsourcing provider ADP is nowoffering enhancements in its Taxware Enterprise System with Data Editor - itssales, use, and value added tax system - which includes a hosted version of theproduct.

President Obama and congressional Republicans are laying out their positions more openly on the fate of the expiring Bush tax cuts as they prepare for negotiations later this month.

CCH has introduced CCH Mobile, a mobile application that extends CCH’s IntelliConnect tax research service to the RIM BlackBerry and Apple iPhone, at its user conference in Orlando on Monday.