Tax News | BNA Software
12/01/2011
Witnesses Debate Bill to Let States Collect Sales Tax From Online Firms »
Congress does have the authority and should act to allow states to require out-of-state vendors to collect and remit state sales and use taxes, although a small business exception and other changes should be addressed in considering proposed legislation, witnesses told a House panel Nov. 30.
11/30/2011
Limited Amendments, Filing Deadline Create Form 8939 Challenges »
Executors filing the Internal Revenue Service's Form 8939 to elect into the modified carryover basis regime for people who died in 2010 must file the form as completely as possible, keeping in mind that amendments are limited, a partner with Deloitte & Touche's national tax office, said Nov. 29 during a BNA webinar.
11/29/2011
Democrats: Millionaire Offset Fate No Barrier to Payroll Tax Cut Extension »
Senate Democratic leaders said Nov. 28 they are committed to extending and expanding the payroll tax holiday that is set to expire at the end of the year, even if their efforts to pay for it with a new surtax on millionaires proves unsuccessful.
11/28/2011
AICPA: IRS Should Have Ability to Offer Estates Administrative Relief »
Congress not only needs to permanently extend major estate and gift tax provisions, but it also needs to reach out and give the Internal Revenue Service additional authority to provide administrative relief in certain cases, the American Institute of Certified Public Accountants said in a letter to lawmakers.
11/23/2011
Showdown on Automatic Defense Cuts Looms After Deficit Panel Collapse »
A struggle over the imposition of automatic spending cuts in the area of defense may be shaping up in the wake of the collapse of the deficit panel Nov. 22, as both congressional Republicans and the White House laid down markers on the issue.
11/22/2011
Deficit Panel Throws in Towel on Reduction Talks, Calls for Congress to Build on Its Work »
The co-chairs of the Joint Select Committee on Deficit Reduction said late Nov. 21 the panel could not reach an agreement on slashing $1.2 trillion from the deficit over the next decade, effectively bringing to an end a rocky months-long process that some observers say was the best chance to deal with the nation's debt ahead of 2013.
11/21/2011
Super Committee Members Remain Hopeful, But Say Deal Needed By End of Nov. 21 »
Leaders of the Joint Select Committee on Deficit Reduction said Nov. 20 that they continue to hold out hope for a last-minute deal to avoid $1.2 trillion in spending sequesters, but acknowledged that an agreement needs to be in hand by the end of Nov. 21.
11/18/2011
IRS Reproposes Rules on Alternate Valuation for Estates »
The Internal Revenue Service Nov. 17 withdrew and reproposed rules that would allow estates to use a beneficial six-month alternate valuation date more broadly.
11/17/2011
House Sends Contractor Withholding Repeal, Veterans Credit Bill to Obama »
The House passed legislation Nov. 16 repealing a provision that would require governments to withhold 3 percent of some payments to contractors, sending the measure to the president for his signature.
11/16/2011
IRS Announces Early Buyout Offers to More Than Five Thousand Employees »
Budget uncertainties have forced the Internal Revenue Service to announce Nov. 15 that it will be offering early retirement and buyouts to some 5,400 back-office and support function employees, with plans to accept up to 1,600 of the offers.
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