Tax Strategies

The Treasury Department and the Internal Revenue Service have proposed a set of changes to the New Markets Tax Credit program to encourage more money to go toward non-real estate businesses located in low-income communities.

Thomson Reuters has agreed to acquire Manatron, a provider of property tax automation and land registry global software for governments and municipalities and fold it into its Tax & Accounting unit.

Rep. Jim McDermott, D-Wash., has introduced bipartisan legislation that aims to bring parity and equal treatment under the Tax Code for health plan beneficiaries who are domestic partners and non-spouse dependents.

The House Ways and Means Committee heard from a panel of corporate finance executives during a hearing on how business tax reform can encourage job creation.

An agreement to raise the debt ceiling in Congress appears to be linked increasingly to a deal to cut both taxes and Medicare spending.

A coalition of Republican and Democratic lawmakers has introduced a trio of bills aimed at protecting access to medical marijuana under tax and banking laws, and changing the existing laws to reflect the medical efficacy of marijuana.

House Republicans introduced a 10-page document outlining their “Plan for America’s Job Creators Agenda,” including lowering the top tax rate for businesses and individuals from 35 to 25 percent and reforming the Tax Code to encourage U.S.-based businesses to repatriate their overseas profits.

A majority of banking executives believe they will have a difficult time addressing the tax implications of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Basel III accords, according to a new survey.

The American Institute of CPAs held its annual ritual this week of visiting lawmakers’ offices on Capitol Hill to press the case for tax simplification, a ban on tax patent strategies, changes in tax-filing due dates, and other legislative priorities.

The American Institute of CPAs kicked off its 2011 Spring Meeting of Council on Sunday with a discussion of the Institute’s legislative priorities.