Tax

The lame duck session slated to begin in mid-November leaves Congress a massive amount of unfinished business.

The Internal Revenue Service responded to only 339 out of 350,000 calls made to a special phone line it has set up for hearing- and speech-impaired taxpayers, according to a new government report.

The Tax & Accounting business of Thomson Reuters has released new Competency Model software for its Checkpoint Learning system that provides self-assessment tools to measure proficiency in the subjects studied by users, along with roadmaps for career development.

The American Institute of CPAs and 18 other groups have written a letter to congressional leaders encouraging them to ban tax strategy patents before adjourning.

Senate Republicans blocked a bill on Tuesday that would have denied tax breaks to companies that move jobs offshore and provide companies with a two-year holiday from their share of Social Security payroll tax withholding for each employee they hire to replace a worker at a foreign-based facility.

The Senate debated a bill on Monday that would give companies a two-year holiday from their share of Social Security payroll withholding for each employee they hire to replace a worker at a foreign-based facility.

The Internal Revenue Service said that individuals and businesses will no longer receive paper income tax packages in the mail.

A Kansas company has created a national online marketplace for matching buyers and sellers of transferable state tax credits.

Senate Democrats plan to hold a vote on the Bush tax cuts extension soon after the mid-term election in November, congressional leaders indicated.

Senate Democrats have decided to wait until after the mid-term election in November to hold a vote on legislation to extend the Bush tax cuts of 2001 and 2003, which are due to expire at the end of this year.