Tax News | BNA Software
02/02/2012
Offset Disputes Could Slash Payroll Tax Cuts to Less Than 10 Months »
Senate Finance Committee Chairman Max Baucus (D-Mont.) warned H.R. 3630 conference committee negotiators Feb. 1 that unless the panel can find a way to agree on suitable ways to pay for extending the entire payroll tax cut package through 2012, a shorter-term extension might be required again.
01/30/2012
Capital Gains Debate Leaves Taxpayers Uncertain About Selling Off Assets »
With capital gains taxes set to rise in 2013, taxpayers are watching the presidential campaign and congressional agenda for clues about how much of their assets they should sell off before the end of the year, analysts tell Bloomberg BNA.
01/27/2012
Obama Blueprint May Signal Retreat From Limit on Charitable Deductions »
The Obama administration may be backing off of its former proposal to cap charitable deductions at 28 percent, the Alliance for Charitable Reform told Bloomberg BNA Jan. 26.
01/26/2012
Obama Tax Plan Shows No Indication of Move to Territorial System »
Tax practitioners expressed concern Jan. 25 that the latest tax proposals released by the White House show no indication that the administration is considering moving to the territorial tax system favored by U.S. multinational corporations.
01/25/2012
Obama Plan Builds on 'Buffett Rule,' Offers Major Corporate Tax Changes »
Families making more than $1 million per year will have to pay an effective tax rate of at least 30 percent under a plan announced Jan. 24 by President Obama.
01/24/2012
President to Address Tax Fairness, Energy in State of the Union »
President Obama's State of the Union speech Jan. 24 will include remarks on renewable energy as part of a “blueprint” for rebuilding the economy, Obama said in a video preview of his remarks distributed to supporters.
01/23/2012
Federal Circuit: Compelling Release of Data Violates Disclosure Prohibition »
The Internal Revenue Service cannot be compelled to turn over excise tax-related test data in light of the Internal Revenue Code's general prohibition against disclosure of tax return information, the U.S. Court of Appeals for the Federal Circuit held Jan. 20 in a case of first impression.
01/20/2012
IRS Proposes Withholding on ‘Dividend Equivalents' to Foreigners »
Taxes will be required to be withheld on any payments of “dividend equivalents” to nonresident aliens and foreign corporations as a way to crack down on certain tax avoidance practices, the Internal Revenue Service said in temporary and proposed regulations issued Jan. 19.
01/19/2012
Keystone Project May Be Included in Payroll Tax Cut Extension, Camp Says »
Lawmakers negotiating a payroll tax cut extension could include language related to the Keystone XL pipeline project, House Ways and Means Committee Chairman Dave Camp (R-Mich.) said Jan. 18.
01/18/2012
Economic Substance Directive Not Same as Formal Guidance, Officials Say »
An Internal Revenue Service Large Business & International Division field directive on the codified economic substance doctrine and its related strict liability penalties was not meant to be the equivalent of formal taxpayer guidance, a pair of IRS attorneys said Jan. 17.
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