Tax

As expected, President Bush signed into law the Working Families Tax Relief Act of 2004 on Monday, extending a number of tax breaks for families and businesses and marking his fourth tax cut in four years.

South Carolina regulators are reportedly mulling disciplinary action against KPMG LLP over the firm's past sales of allegedly abusive tax shelters.

A new revenue ruling will shut down an abusive employment tax arrangement involving double employer reimbursements for an employee's parking expenses.

RIA has introduced two new modules for its InSource Sales & Use Tax software.

Intuit unveiled a new offering this week aimed at small business owners who still rely on pencil and paper, Excel spreadsheets or shoeboxes to track expenses and keep their business records.

Almost half of fast-growth chief executives surveyed expect a major increase in their company's business taxes over the next two years, according to PricewaterhouseCoopers.

Republican and Democratic lawmakers in a conference this week agreed to extend $145 billion worth of President Bush's tax cuts.

Legislation that extends soon-to-expire provisions of last year's tax cuts for families -- at a cost of about $146 billion over a 10-year period -- easily sailed through Congress late yesterday.

Outsourcing provider Xpitax has added accounting services for clients, including bookkeeping and write-up solutions, work paper conversion, and year-end accounting work and financial analysis, to its offerings.

The tax burden on middle- and higher-income families would rise if the package of tax breaks is allowed to expire at year-end, according to an analytical breakdown by Deloitte Tax.