Tax

The tax-related talk in Washington lately has shifted from overall tax reform to specific fixes like eliminating about $4 billion in tax breaks for major oil companies.

A bipartisan group of senators has renewed the effort to repeal tax credits for ethanol, introducing a bill Tuesday that would fully eliminate the Volumetric Ethanol Excise Tax Credit.

CCH Small Firm Services has transferred its Electronic Filing Center reporting system from an Oracle database to Microsoft technology.

President Obama repeated his demand for Congress to eliminate an estimated $4 billion in tax breaks for the major oil and gas companies.

Thousands of tax credits, deductions and other incentives are hidden throughout the Tax Code. Some, such as the Blender's Credit, are obscure, while others, such as the Earned Income Tax Credit or the various energy credits, are well known.

Not so long ago, I read a story about a woman who, while cleaning her house, inadvertently shattered one of those energy-saving compact fluorescent lights with the end of a broom handle.

The Texas Society of CPAs has issued an analysis of the Obama administration’s call for eliminating special tax breaks for domestic oil and gas production and come out firmly against any repeal.

Treasury Secretary Timothy Geithner blamed a “broken” tax system as one of the chief causes of the U.S. budget deficit.

It’s good that tax reform is high on the political agenda these days.

The Tax Code provides substantial benefits for families with children, including up to $9,000 for a single parent with two children, according to a new study.