Tax Strategies

Eleven years ago, eliminating income taxes for low-income Americans was an applause line for a Republican president. Mitt Romney in 2012 sees the number of people paying nothing as a political problem.

Politicians and policy makers always seem to be talking about “broadening the tax base” and “eliminating tax loopholes,” but rarely do we hear specifics.

Taxpayers who are still recovering from the economic downturn will get at least some relief in 2013 by way of the mandatory upward inflation-adjustments called for under the tax code, according to CCH.

Mitt Romney says he can lower income tax rates by 20 percent without costing the U.S. government revenue and without making the middle class carry a bigger share of the tax load.

The House held a hearing Thursday to discuss small business perspectives on the tax cliff, hearing testimony from a representative of the American Institute of CPAs and other witnesses.

A group of small online retailers have launched a coalition to protest against the imposition of laws requiring them to collect sales taxes from customers.

A high-ranking Internal Revenue Service official told a congressional panel that the agency is not planning to use tactics like tax liens and levies to make sure taxpayers are properly complying with the new health care reform law.

CCH has published a special report comparing the tax policies and proposals of President Barack Obama with his Republican rival Mitt Romney.

Republican presidential nominee Mitt Romney cited a group of economic studies to show that his tax-cut plan won’t increase the U.S. budget deficit or shift the tax burden to middle-income taxpayers.

Check out the digital edition of the September 2012 issue of Accounting Today.