Tax

Tax form software developer Greatland Corp. has released its annual list of the year’s most newsworthy events in terms of their implications on W-2 and 1099 forms.

The Internal Revenue Service has published a revised tax guide to help taxpayers get the most out of various tax breaks.

House Republicans blocked the Senate’s two-month extension of the payroll tax cut and emergency unemployment benefits on Tuesday, setting up a confrontation between the two chambers.

The American Institute of CPAs has introduced a set of Interactive Tax Checklists to help practitioners prepare clients’ returns.

The Internal Revenue Service saved about $14.19 million by not mailing out tax form packages this year, but the elimination of the mailings increased the burden on approximately 6 million taxpayers who needed to obtain the forms themselves, according to a new government report.

The Senate has passed a two-month extension of the payroll tax cut and unemployment benefits, but House Republican leaders and some Democrats balked at the short-term extension.

Congressional leaders in both parties signaled they were working on a deal to extend the payroll tax cut and unemployment benefits for at least two months, while also agreeing on a spending bill that would avert a government shutdown.

The Internal Revenue Service reminded tax preparers to renew their Preparer Tax Identification Numbers before they expire at the end of the year.

The Internal Revenue Service plans to release a new information reporting form that taxpayers will need to use next tax season to report on certain types of foreign financial assets for tax year 2011.

New information released Wednesday on the holdings of U.S.-based multinational corporations is adding fresh ammunition to the dispute over whether companies should be given a tax holiday on repatriated foreign profits.