Tax Strategies

Bob Moritz, chairman of PricewaterhouseCoopers LLP since July 2009, sat down with Accounting Today on Friday to discuss some of the issues facing the accounting profession and how PwC has been adapting to changes in the economy and accounting, as well as his encounter with Michelle Obama when handing her the envelope for the Academy Awards.

Senior tax professionals are most worried about the prospects for U.S federal business tax reform and the heightened regulatory environment in transfer pricing, according to a new survey by KPMG.

A group of 42 major corporations have joined together to form a new lobbying coalition to press for corporate tax reform.

Marcum’s LGBT practice leaders sat down with managing editor Tamika Cody to discuss some of the inequalities LGBT clients face when trying to file taxes.

The principles behind the passive-activity loss limitations rules under Code Sec. 469 and the net investment income Medicare tax under Code Sec. 1411 are similar -- limit business losses from passive activities or raise the tax on passive-type income a bit more, when not the direct result (at least not a significant part) of a taxpayer's labor. Congress, however, did not leave it at that -- or, as some would argue, leave well enough alone.

If the number of congressional hearings on tax reform this year is an indication of the potential for passage, it seems possible that something may actually be in the works.

The Internal Revenue Service does not have enough data to identify who claims a tax expenditure and how much they claim, for nearly half the dollar value of all tax expenditures, or $492 billion out of $1 trillion, according to a new report by the Government Accountability Office.

A new report from the Congressional Budget Office found that the top 10 tax expenditures are distributed unevenly across the income scale, with much of the benefit going to the top-earning 1 percent of the population.

Switzerland proposed a bill that it says will provide the legal basis for the country’s banks, including Credit Suisse Group AG and Julius Baer Group Ltd., to resolve a tax-evasion dispute with the U.S.

Privately held retailers are operating with relatively thin profit margins nearly four years after the end of the recession, and some analysts say costs could go up and pinch margins even more if Congress approves the latest effort to get more retailers to collect taxes on their online sales.