Tax

Extending the 2001 and 2003 federal income tax cuts would sharply increase the national debt, even if the extensions were limited to individuals earning below $200,000, according to a new report by the Pew Economic Policy Group.

The bipartisan leaders of the Senate Finance Committee have introduced legislation to create job opportunities for veterans returning home from war by providing tax credits for businesses that hire them.

CCH has published a pair of special briefing papers on the financial reform bill that passed in the Senate last week and the tax extenders bill introduced last week in the House and Senate.

The proliferation of Tax Code changes, rules and regulations at the federal and state level has made the availability of services that can provide quick answers and extensive research to support a position on a tax return more necessary than ever. And thankfully for most researchers, flipping through - and filing - loose-leaf paper tax services is a thing of the past.

Accountants are squarely on the front line of the problems with the 2010 estate tax hiatus, according to practitioners and estate-planning attorneys.

Connecticut Governor Jodi Rell has vetoed legislation that would have taxed bonuses paid to people who work for financial companies that received federal bailouts.

H&R Block has closed about 400 of its “under-performing” tax offices out of its network of 11,000 retail tax locations, and eliminated approximately 400 positions throughout the organization.

BNA Tax & Accounting has introduced State Tax Nexus Evaluator, a research product that helps businesses and practitioners determine income tax nexus for 50 U.S. states, Washington, D.C., and New York City.

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.