Tax

President Obama is scheduled to deliver a speech Wednesday in which he will reportedly propose a series of business tax cuts, along with new infrastructure spending.

H&R Block is cutting costs and will be closing more offices before next tax season, allowing the company to reduce its continuing losses.

It’s been five years since former Senator Connie Mack, then chairman of the President’s Advisory Panel on Federal Tax Reform, said the panel would “take a fresh look at the existing Tax Code and will formulate options for making the tax system simple, fair and productive.”

The Treasury Department said it would launch a new pilot program next tax season for people without bank accounts, directly depositing their tax refunds in special accounts that they will be able to access with debit cards.

New York and Philadelphia have been provoking the ire of their residents lately by levying taxes on two formerly sacrosanct local products.

Taxpayers will be able to receive their income tax refunds on a reloadable prepaid Western Union MoneyWise MasterCard next tax season as a result of a new agreement that CCH Small Firm Services has struck with Western Union.

President Barack Obama blasted Senate Republicans for obstructing his administration’s top legislative priority: a bill providing tax cuts and a $32 billion lending fund for small businesses to spur job growth.

The real estate developer who is trying to set up a controversial Islamic cultural center two blocks away from Ground Zero reportedly owes New York City over $224,270 in back property taxes for the location.

H&R Block has teamed up with Blue Cross and Blue Shield of Kansas City to offer an online calculator that can help small businesses understand the financial impact of health care reform and determine their health insurance savings by using tax credits under the bill.

Intuit is looking to take scan-and-populate technology to the next level with the release of ProLine Tax Import, designed to allow tax professionals to import tax data from scanned source documents and digitally download data from financial institutions directly into Intuit Lacerte and Intuit ProSeries.