Tax Strategies

A trio of House Democrats have introduced a bill that would provide tax relief to homeowners who were wrongly foreclosed upon and receive money from the recent nationwide mortgage foreclosure settlement.

The House Ways and Means Committee has passed a Republican-sponsored bill aimed at reducing taxes for small businesses that would also benefit larger companies.

The Internal Revenue Service has made organizational and administrative changes in the programs governing agreements between large businesses and the IRS over how tax transactions can be reported, particularly for multinational corporations using transfer pricing.

Senate Republicans are allowing a Democratic bill to go forward that would end tax subsidies for major oil producers.

Rep. Charles Rangel, D-N.Y., has introduced a bill aimed at extending tax relief to Americans in danger of losing their homes.

House Budget Committee chairman Paul Ryan, R-Wisc., has introduced a Republican-backed alternative to the Obama administration’s fiscal 2013 budget, including a proposal to consolidating the current six individual income tax brackets into just two brackets of 10 and 25 percent.

The Internal Revenue Service has proposed regulations that would require taxpayers with Employer Identification Numbers to periodically provide the IRS with up-to-date information.

Only 16 percent of tax and finance departments are actively involved in corporate sustainability efforts, according to a new survey by Ernst & Young.

The Senate failed to pass an amendment that would have extended a set of expiring tax credits for wind energy, biofuels, energy efficient homes and other tax breaks.

Nearly two-thirds of tax professionals are unaware of the various tax incentives that are available to private investors in clean energy projects, according to a new poll by Bloomberg BNA.