http://63.146.114.155/News/Tax_News/Index.xml List of news articles pertaining to BNA en-us Thu, 02 Feb 2012 00:00:00 PST http://63.146.114.155/images/BNAlogo.gif http://63.146.114.155/News/Tax_News/Index.xml http://63.146.114.155/News/Tax_News/Articles/Offset_Disputes_Could_Slash_Payroll_Tax_Cuts_to_Less_Than_10_Months.asp 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. bna-software-12315 Thu, 02 Feb 2012 00:00:00 PST http://63.146.114.155/News/Tax_News/Articles/Capital_Gains_Debate_Leaves_Taxpayers_Uncertain_About_Selling_Off_Assets.asp 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. bna-software-12302 Mon, 30 Jan 2012 00:00:00 PST http://63.146.114.155/News/Tax_News/Articles/Obama_Blueprint_May_Signal_Retreat_From_Limit_on_Charitable_Deductions.asp 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. bna-software-12299 Fri, 27 Jan 2012 00:00:00 PST http://63.146.114.155/News/Tax_News/Articles/Obama_Tax_Plan_Shows_No_Indication_of_Move_to_Territorial_System.asp 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. bna-software-12295 Thu, 26 Jan 2012 00:00:00 PST http://63.146.114.155/News/Tax_News/Articles/Obama_Offers_Major_Corporate_Tax_Changes.asp 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. bna-software-12292 Wed, 25 Jan 2012 00:00:00 PST http://63.146.114.155/News/Tax_News/Articles/President_to_Address_Tax_Fairness_Energy_in_State_of_the_Union.asp 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. bna-software-12291 Tue, 24 Jan 2012 00:00:00 PST http://63.146.114.155/News/Tax_News/Articles/Federal_Circuit_Compelling_Release_of_Data_Violates_Disclosure_Prohibition.asp 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. bna-software-12289 Mon, 23 Jan 2012 00:00:00 PST http://63.146.114.155/News/Tax_News/Articles/IRS_Proposes_Withholding_on_Dividend_Equivalents_to_Foreigners.asp 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. bna-software-12287 Fri, 20 Jan 2012 00:00:00 PST http://63.146.114.155/News/Tax_News/Articles/Keystone_Project_May_Be_Included_in_Payroll_Tax_Cut_Extension.asp 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. bna-software-12285 Thu, 19 Jan 2012 00:00:00 PST http://63.146.114.155/News/Tax_News/Articles/Economic_Substance_Directive_Not_Same_as_Formal_Guidance_Officials_Say.asp 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. bna-software-12283 Wed, 18 Jan 2012 00:00:00 PST http://63.146.114.155/News/Tax_News/Articles/Lawmakers_Retailers_See_Opportunity_for_Online_Sales_Tax_Bill_in_2012.asp Proponents are hopeful for an opportunity to advance legislation in 2012 that would allow states to require online and remote retailers to collect and remit state sales taxes despite a bleak outlook in Congress and tough opposition on a small business exemption. bna-software-12279 Tue, 17 Jan 2012 00:00:00 PST http://63.146.114.155/News/Tax_News/Articles/Taxpayer_Advocate_Enforcement_Offers_Little_International_Taxpayer_Help.asp The Internal Revenue Service's sharply increased focus on international tax enforcement is taking place without adequate service-wide coordination or help for taxpayers trying to comply with myriad confusing rules, IRS Taxpayer Advocate Nina Olson said in a report made public Jan. 11. bna-software-12277 Fri, 13 Jan 2012 00:00:00 PST http://63.146.114.155/News/Tax_News/Articles/Obama_to_Propose_Tax_Breaks_for_Insourcing_Jobs_Investment_in_U.S.asp President Obama Jan. 11 said he soon will propose tax incentives for companies that bring jobs back to the United States from their overseas operations, a trend known as “insourcing.” bna-software-12276 Thu, 12 Jan 2012 00:00:00 PST http://63.146.114.155/News/Tax_News/Articles/Uncertain_Positions_Economic_Substance_Take_Spotlight.asp The Internal Revenue Service will issue guidance on program-related investments in 2012, thereby granting exempt practitioners one of their main wishes for the new year. bna-software-12273 Wed, 11 Jan 2012 00:00:00 PST http://63.146.114.155/News/Tax_News/Articles/IRS_Reopens_Offshore_Voluntary_Disclosure_Initiative.asp The Internal Revenue Service Jan. 9 announced that it is reopening its special program to allow taxpayers to disclose their offshore assets to the government for a third time, winning praise from practitioners who said this would encourage more people to come forward as investigations of foreign banks continue. bna-software-12272 Tue, 10 Jan 2012 00:00:00 PST http://63.146.114.155/News/Tax_News/Articles/Opening_Briefs_in_Health_Reform_Case_Government_Calls_Mandate_a_Tax.asp Congress had the authority under the commerce clause of the U.S. Constitution to enact, as part of a broader reform package, a mandate that requires nonexempt individuals to obtain health insurance or pay a financial penalty, lawyers for the Obama administration told the U.S. Supreme Court in a merits brief filed Jan. 6 (HHS v. Florida, U.S., No. 11-398, brief filed 1/6/12). bna-software-12267 Mon, 09 Jan 2012 00:00:00 PST http://63.146.114.155/News/Tax_News/Articles/IRS_Updates_Procedures_for_Granting_of_Innocent_Spouse_Relief.asp The Internal Revenue Service announced Jan. 5 a proposed update to its Revenue Procedures regarding innocent spouse relief that will expand how the service will take into account abuse and financial control by the non-requesting spouse in determining whether relief is warranted. bna-software-12266 Fri, 06 Jan 2012 00:00:00 PST http://63.146.114.155/News/Tax_News/Articles/Hopes_Dim_for_Quick_Action_on_Extenders_as_Focus_Shifts_to_Payroll_Tax.asp Congressional leaders in both parties have said they intend to work on passage of the annual tax extenders package early in 2012, but analysts said the odds of that happening have plunged now that top tax writers are focusing on a full-year extension of the payroll tax cut. bna-software-12264 Thu, 05 Jan 2012 00:00:00 PST http://63.146.114.155/News/Tax_News/Articles/House-Senate_Payroll_Tax_Conferees_to_Start_Meetings_Week_of_January_16.asp A 20-member conference committee is expected to begin meeting during the week of Jan. 16 on a full-year extension of the payroll tax holiday, congressional aides said Jan. 3. bna-software-12262 Wed, 04 Jan 2012 00:00:00 PST http://63.146.114.155/News/Tax_News/Articles/'Home_Concrete'_Supreme_Court_Briefs_Include_Three_Supporting_Taxpayer.asp Three amicus curiae briefs supporting a taxpayer's challenge to the application of an extended assessment period to tax shelter transactions involving overstatements of basis are among those submitted to the U.S. Supreme Court in advance of the Jan. 17 oral arguments for United States v. Home Concrete & Supply LLC (United States v. Home Concrete & Supply LLC, U.S., No. 11-139, cert. granted 9/27/11). bna-software-12259 Tue, 03 Jan 2012 00:00:00 PST http://63.146.114.155/News/Tax_News/Articles/NYSBA_Tax_Section_Addresses_Denial_of_Tax-Free_Status_on_Investments.asp The New York State Bar Association Tax Section Dec. 28 made several recommendations related to the denial of tax-free treatment for transactions that otherwise qualify as a Section 351 exchange or a Section 368 reorganization when one or more investment companies are involved bna-software-12258 Fri, 30 Dec 2011 00:00:00 PST http://63.146.114.155/News/Tax_News/Articles/Guidance_on_Tangible_Property_Could_Spur_Controversy.asp Major new rules (REG-168745-03, T.D. 9564) on whether taxpayers must capitalize or can deduct amounts paid to acquire, produce, or improve tangible property contain significant changes and could lead to comment and perhaps controversy in several areas, practitioners told BNA in interviews Dec. 27 and 28. bna-software-12257 Thu, 29 Dec 2011 00:00:00 PST http://63.146.114.155/News/Tax_News/Articles/IRS_Issues_Guidance_on_Capitalization_of_Tangible_Property.asp The Internal Revenue Service unveiled Dec. 23 more than 250 pages of guidance on the treatment of amounts paid to acquire, produce, or improve tangible property, culminating nearly eight years of work on the issue with proposed and temporary rules (REG-168745-03, T.D. 9564). bna-software-12256 Wed, 28 Dec 2011 00:00:00 PST http://63.146.114.155/News/Tax_News/Articles/President_Obama_Signs_Two-Month_Extension_of_Payroll_Tax_Cut_Doc_Fix_UI_Benefits.asp President Obama Dec. 23 lauded lawmakers for passing legislation that temporarily extends the 4.2 percent Social Security payroll tax rate for individuals, continues unemployment insurance benefits, and prevents reimbursement cuts to Medicare providers. bna-software-12255 Tue, 27 Dec 2011 00:00:00 PST http://63.146.114.155/News/Tax_News/Articles/Payroll_Tax_Holiday_Impasse_Broken_Action_Expected_by_Christmas.asp House and Senate leaders agreed Dec. 22 to break the logjam over temporarily extending the payroll tax holiday and other policies for another two months, and House Speaker John Boehner (R-Ohio) said he expects the deal to be passed as soon as Dec. 23. bna-software-12249 Fri, 23 Dec 2011 00:00:00 PST