Tax

IMGCAP(1)]Acquisition transactions come in all shapes and sizes. Some take place at seemingly breakneck speed, while others are the result of months of thoughtful planning.

With one debate already in the books, we’re not really any closer to knowing what taxes will be in the books, or not, come January. In fact, when the ball drops on New Year’s Eve, we may still need a crystal ball to tell us in what direction we are headed.

President Barack Obama and Republican presidential nominee Mitt Romney traded barbs about tax policy and how they would control the budget deficit, with Romney telling Obama at one point that he might need to get a new accountant.

The National Small Business Association has released its Tax Reform Checklist outlining nine key principles that any serious tax reform proposal ought to include.

The New York State Society of CPAs has asked Congress to consider new legislation that would temporarily waive tax penalties for taxpayers who are forced to make early withdrawals from retirement accounts due to financial hardship caused by the economic crisis.

Jackson Hewitt Tax Service has agreed with Sears to provide tax prep services in most Sears locations nationwide starting in January.

Income acceleration techniques for 2012 year-end planning

The past tax season saw continued growth in the do-it-yourself market, while the complexity of the Tax Code, and the likelihood of end-of-year or next-year retroactive changes, will increase the need for software at both the consumer and professional levels.

In an election season where taxes spark debate among all political camps, much of the dialogue has been focused on corporate tax rates impacting U.S. businesses.

For the eighth consecutive year, the Internal Revenue Service has chosen CCH to provide the agency with comprehensive sales tax rate and taxability tables that can be used by millions of taxpayers in preparing their returns.