Tax News | BNA Software
10/18/2011
House GOP Working on Territorial Regime Proposal for Corporate Taxes »
Republicans on the House Ways and Means Committee are looking to unveil a proposal that would completely overhaul the corporate tax regime by moving the system from a worldwide system of taxation to a territorial tax regime, sources said Oct. 17.
10/17/2011
IRS Outlines Guidance on Filing Protective Claims for Refund of Estate Tax »
The Internal Revenue Service Oct. 14 released guidance relating to the filing and subsequent resolution of a protective claim for refund of estate tax that is based on a deduction for a claim or expense under tax code Section 2053.
10/14/2011
Senate GOP Counters Obama With Jobs Bill Including Broad Tax Reform »
Senate Republicans responded to Democratic accusations that they do not have their own ideas for boosting the economy, unveiling a jobs bill of their own Oct. 13 that features a complete tax code overhaul and the repeal of several recent laws, including those created in the 2010 health care overhaul.
10/13/2011
GOP ‘Buffett Rule:’ Box on Tax Forms for Donations From Wealthy »
Republicans in the House and Senate offered their own alternative “Buffett Rule” to get more money from the wealthiest taxpayers, announcing legislation Oct. 12 that would require the Internal Revenue Service to place a box on tax forms to allow taxpayers to voluntarily pay more in taxes.
10/12/2011
Quick Summary of the American Jobs Act of 2011 »
Yesterday the Senate held a procedural vote on whether or not to allow the American Jobs Act of 2011 (S. 1660) to move forward. The vote, which needed 60 Senators, failed, leaving the Democrats searching for new ways to advance the President's ideas.
10/11/2011
CEOs Tempted to Sacrifice R&D Tax Credit for Lower Tax Rate »
It is not often that corporate executives lobby against a popular tax break, but that is in effect what is happening as they discuss the research and development tax credit in the context of tax reform.
10/07/2011
Reid to Open Jobs Bill to Amendments, Plans Votes by Wednesday »
Senate Majority Leader Harry Reid (D-Nev.) said Oct. 6 that he is pushing ahead with President Obama's American Jobs Act (S. 1660) by opening it up to amendments and making plans to vote on the bill as soon as Oct. 12.
10/06/2011
IRS Might Not Rule on Some Deals Involving Debt Repayments in Spinoffs »
The Internal Revenue Service may no longer provide rulings on certain transactions involving repayment of debt by distributing corporations in spinoff deals where there is an initial agreement to repay the debt, a senior Internal Revenue Service official said Oct. 5.
10/05/2011
Government to Clarify Acquisitions' Automatic Accounting Method Changes »
The government is likely to clarify in a followup to July guidance that corporations can make automatic changes to their methods of accounting when they acquire other companies, Treasury Associate Tax Legislative Counsel Brandon Carlton said Oct. 4.
10/04/2011
Tech Neutrality Could Streamline Energy Tax Policy, Spur Investment »
A more technology-neutral approach to energy tax policy could streamline a heap of complicated, targeted incentives in the code and attract enough private investment to phase out the subsidies in a predictable, timely way, according to sources working in the sector.
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