Tax Strategies

The leaders of Congress’s two main tax committees met with taxpayers and businesses in Silicon Valley on Tuesday to elicit feedback on various tax reform proposals.

Ahead of an expected showdown in Congress over budget and tax issues after lawmakers return from their August recess, groups in 16 states are holding 28 events this week to demand that Congress end corporate tax breaks to avoid deeper cuts to spending programs.

In some cases, rather than renting space, a business owner may purchase the buildings in which they operate their companies.

The Internal Revenue Service has released a draft version of a new form for reporting on foreign bank accounts under the Foreign Account Tax Compliance Act.

The Motion Picture Association of America has resolved a dispute with Chinese authorities over value-added tax payments that had held up payment for Hollywood movies distributed in China.

The American Institute of CPAs has written to the heads of Congress’s main tax-writing committee expressing its opposition to a proposed limitation on the use of the cash method of accounting for partnerships, S corporations, personal service corporations and farmers.

Americans who currently buy their own insurance through the individual market would receive tax credits averaging nearly $2,700 next year for coverage purchased through new insurance marketplaces under the Affordable Care Act, according to a new study.

Married same-sex couples with children may face higher bills from the IRS as recent Supreme Court rulings start playing out in the tax code.

Americans renouncing U.S. citizenship surged sixfold in the second quarter from a year earlier as the government prepares to introduce tougher asset-disclosure rules.

Among the many tax reform issues to be resolved in the months ahead is whether or not to produce a comprehensive tax reform bill or simply one limited to corporate reform.