Tax News
09/08/2010
Obama to Seek 100 Percent Expensing, Permanent R&D Credit »
President Obama is preparing a pre-election push to make the research and development tax credit permanent and create a massive, temporary tax incentive to encourage businesses to invest in new equipment, the White House confirmed Sept. 7.
09/07/2010
New Tax-Cut Proposals Could Be Problem for President Obama »
Tax experts and economists offered mixed reviews about the feasibility of the Obama administration's attempt to pass additional tax cuts now with the legislative year winding down, even as the president declined Sept. 3 to specify what proposals his administration will advance.
09/03/2010
Lawmakers Seek to Exempt Nonsigning Preparers From Oversight »
The Internal Revenue Service and Treasury Department have not yet responded to an Aug. 2 letter from 30 lawmakers asking that regulators exempt nonsigning tax preparers from their plans to oversee all tax preparers, Rep. Brad Sherman (D-Calif.) told BNA Aug. 31.
09/02/2010
Romer Says U.S. Must Tax Less, Spend More to Aid Employment »
The government should cut taxes and increase spending to stimulate the economy to reduce unemployment quickly, Christina Romer, the outgoing chair of the president's Council of Economic Advisers, said Sept. 1.
09/01/2010
AHIP Says Group Health Plans Face Complex Nondiscrimination Tests »
Insured group health plans will face "new and complex challenges" in meeting tax regulations designed to prevent discrimination in favor of high-paid employees under the new health care reform law, according to a white paper America's Health Insurance Plans sent to its executive members Aug. 17.
08/31/2010
Obama to Propose Ideas to Increase Economic Growth, Including Tax Cuts »
President Obama Aug. 30 announced that he will propose new ideas in the coming days and weeks intended to spur economic growth in the United States, revolving around tax cuts and investments in infrastructure and clean energy.
08/30/2010
IRS Unveils Comprehensive Guidance on FATCA Reporting, Disclosure »
The Internal Revenue Service Aug. 27 unveiled eagerly awaited guidance on the implementation of the Foreign Account Tax Compliance Act (FATCA), which imposed a host of new requirements on foreign banks to report and disclose accounts with U.S. owners, garnering measured praise from practitioners.
08/27/2010
PERAB Tax Subcommittee Report Expected Today Amid Low Expectations »
A subcommittee of the President's Economic Recovery Advisory Board is slated to report Aug. 27 on ideas to improve the tax system, but one expert said Aug. 26 it is doubtful the recommendations will have much impact.
08/26/2010
IRS Urged to Employ Facts-Based Approach in Uncertain Positions Plan »
The Internal Revenue Service should employ a facts-based approach when asking taxpayers to disclose their uncertain tax positions under a new form and instructions, among a range of other issues to consider as the agency works to finalize its guidance on the controversial proposal, PricewaterhouseCoopers LLP practitioner Brian Meighan said Aug. 24.
08/25/2010
AICPA Seeks Break for Nonsigning Preparers; Others Call Fees Valid »
The National Society of Accountants Aug. 24 opposed any break from tax preparer identification proposed rules, for those who are licensed at the state level, while the American Institute of Certified Public Accountants argued that only tax preparers who sign a return should be forced to meet the Internal Revenue Service's new requirements.
