Tax

A long-awaited Senate energy and climate change bill is being introduced Wednesday by John Kerry, D-Mass., and Joe Lieberman, I-Conn., with several tax provisions that would benefit nuclear power plants.

The Tax & Accounting business of Thomson Reuters has released the latest version of its Sabrix Application Suite of global tax software, with added support for transaction taxes in Brazil.

Tax accountants and others looking for clues on how the anti-tax Tea Party movement will affect this fall’s national elections received mixed signals from voters in a number of recent ballot initiatives.

Although the overall effects of the Obama administration's health care reforms may not be known for years, they promise to significantly affect CPAs and their clients.

2010

The recently enacted Patient Protection and Affordable Care Act, as amended by the Health Care and Education Reconciliation Act of 2010, relies heavily on new tax provisions in the Internal Revenue Code to implement many of the goals of health care reform. The effective dates for many of these tax provisions are delayed - some do not take effect until 2013, 2014 or even 2018.

The majority of CFOs see state taxes increasing for their companies and believe that state and local tax compliance has become more demanding than federal tax compliance, according to a new survey by Grant Thornton.

In comments submitted to the Internal Revenue Service,the National Society of Accountants supported the agency's proposed taxpreparer registration requirements, but suggested broadening them to includeeven more preparers.

The economic realities of budget shortfalls faced bygovernments worldwide will accelerate a shift toward indirect taxes such asvalue-added taxes and present new risks, challenges and opportunities for U.S.businesses operating globally, predicts a new report from KPMG LLP.

The initial meeting of the White House deficit commission kicked off as a bipartisan panel considered ways to curb the growing federal budget deficit and the national debt.