Tax Strategies

The House Ways and Means Select Revenue Measures Subcommittee held a hearing to consider a move to a territorial corporate tax system that would tax only the income earned inside the U.S.

A group of millionaires visited the halls of Congress in an effort to convince lawmakers to raise tax rates on incomes of $1 million a year or more.

The House overwhelmingly passed legislation repealing the 3 percent withholding mandate on government contractors, along with a tax credit for hiring veterans.

The November 23 deadline for Congress’s deficit reduction “supercommittee” is only about a week away and effectively a few days less.

The deficit reduction “supercommittee” in Congress appears increasingly unlikely to make any decisions on taxes before its impending deadline.

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CCH provided advice on year-end tax strategies that, if implemented before a taxpayer’s liability is finalized, could make a significant difference in what they owe as tax year 2011 draws to a close.

Commissioner Doug Shulman has presided over the continued reorganization and modernization of the Internal Revenue Service since March 2008.

The Senate failed to advance an infrastructure jobs bill Thursday that would have been paid for through higher taxes on millionaires.

A group of Democrats on the tax-writing House Ways and Means Committee has introduced a bill to extend federal unemployment insurance through 2012 and provide tax relief to employers in states with outstanding UI loans.