Tax Strategies

New Jersey ranks at the bottom of the list in a new study of the comparative business friendliness of tax systems in the 50 states, while South Dakota is counted as most business friendly.

The Treasury Department’s Inspector General for Tax Administration has released a report recommending that the IRS seek mandatory electronic filing of individual tax returns by paid preparers, and legislation is being readied to write such a requirement into law.

The State of Minnesota has decided to end its income tax reciprocity program with Wisconsin, effective Jan. 1, 2010.

New America Software has formally released its MultiTax software for download after about a year of beta testing with various tax preparation businesses.

CCH has introduced a new research product with up-to-date information on 20 jurisdictions that offer low tax rates.

Thomson Reuters’ Tax & Accounting business plans to acquire Deloitte LLP’s Abacus Enterprise suite of tax software products.

CCH has expanded its lineup of global tax products with Worldwide Tax Rates and Answers: Individuals, an online tax compliance and research service that covers the European Union.

H&R Block reported a consolidated net loss for the first quarter of $133.6 million, or 40 cents a share, with much of the loss attributed to tax operations.

The government is about to start offering a Cash for Clunkers type of program for old inefficient appliances this fall, so why not cash for clunker tax returns and financial statements?

The use of carbon taxes and other forms of “green” taxation to improve the environment and raise government revenue requires careful planning, recommends a position paper from the Association of Chartered Certified Accountants.