Tax

Call this a story about nurturing the goose that laid the golden egg.

Hoping to get the Small Business Jobs Act passed before the August recess, Senate Democrats have modified the legislation in an effort to avoid another filibuster battle.

A new report estimates that the total amount of federal tax revenue lost due to use of overseas tax havens adds up to at least $37 billion per year.

Thomas M. Bloch, son of H&R Block founder Henry Bloch, submitted a letter to Block’s board citing a “disagreement over the direction of the company” as the reason why he won’t stand for re-election as a director.

IMGCAP(1)]The escalating cost of providing group medical benefits has forced many employers to dedicate more time and energy toward gaining control over increasing premiums.

In spite of the growth and popularity of limited liability companies taxed as partnerships, S corporations remain a very popular option for doing business. Internal Revenue Service records show that S corporations remain the most popular way for a business to file tax returns.

Railing at Accounting Today for engaging in "politics" in an editorial critical of some tax and economic policies of the Obama administration (June 7-20, 2010, page 9), Harry Bose engages in some politics of his own in attempting to make his case. His response is more amusing than informative.

With California unemployment hovering at 13 percent and the national unemployment rate still above 9.5 percent, long-term unemployment is clearly one of the biggest challenges for the U.S. economy.

The Senate Finance Committee held hearings last week to consider the effects of the soon-to-expire “Bush” tax cuts, and those problems could be magnified for tax practitioners and their clients.

The Tax & Accounting business of Thomson Reuters plans to introduce iPhone and iPad apps that will provide a front-end to the company’s Checkpoint Learning software.