Tax Strategies

Businesses will have to act soon on a bevy of tax breaks before they expire at the end of the year.

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The tax subcommittee of the President’s Economic Recovery Advisory Board has decided to postpone its report outlining tax reform plans for the White House after being inundated with suggestions.

A group of Democratic lawmakers has introduced a bill that would impose a temporary war surtax beginning in 2011 to pay for the war in Afghanistan.

The First-Time Homebuyer Tax Credit helped spur a 10.1 percent jump in sales of existing homes in October.

CCH and Grant Thornton have teamed up to produce IFRS Tax Manager, an online guide to International Financial Reporting Standards, aimed at helping tax, audit and accounting professionals comply with tax accounting and reporting standards under IFRS.

CCH Small Firm Services has begun shipping its ATX and TaxWise lines of software for tax year 2009, with links to tax research from CCH.

It’s getting near the end of the year, and ’tis the season to be compiling lists.

Senate Majority Leader Harry Reid, D-Nev., introduced the Senate’s version of the health care reform bill, which includes a new 5 percent tax on elective cosmetic surgery.

In a move designed to bolster its global transaction tax offerings, Thomson Reuters Tax & Accounting has agreed to acquire San Ramon, Calif.-based Sabrix, a provider of tax transaction software, for an undisclosed amount.