Tax

The Obama administration has released its fiscal year 2016 budget tax proposals, which would raise taxes on the wealthy and multinational corporations stashing profits offshore, while promising middle-class tax cuts.

Check out the digital edition of the February 2015 issue of Accounting Today.

President Barack Obama sent a $4 trillion budget blueprint to Congress today that would raise taxes on corporations and the nation’s top earners, fund major investments in infrastructure and education and stabilize, but not eliminate, the annual U.S. budget deficit.

Issues to keep an eye out for as the 2015 tax season progresses

Does it have to be as bad as all that?

2014 tax developments as a guide to 2015

A new study finds that U.S.-based multinational corporations move an average of $12 billion in taxable income back into the country each year without paying taxes, thanks to complex mergers and acquisitions.

The Internal Revenue Service’s Free File program, which the IRS operates in conjunction with tax prep software providers, could well entice more taxpayers to self-file this tax season, despite new challenges like the Affordable Care Act.

Fans attending the Super Bowl this weekend may look up in the sky and see a cryptic message: “NAEA, America’s Tax Experts,” and “WhatisanEA.org.”

The Internal Revenue Service is partnering with community-based organizations across the country to promote the annual Earned Income Tax Credit Awareness Day, an effort to alert millions of low and moderate-income workers who may be missing out on a significant tax credit that can be worth up to $6,000.