http://www.bnasoftware.com/News_Articles/Index.xml List of news articles pertaining to BNA en-us Fri, 12 Mar 2010 00:00:00 PST http://www.bnasoftware.com/images/BNAlogo.gif http://www.bnasoftware.com/News_Articles/Index.xml http://www.bnasoftware.com/News_Articles/News/IRS_Revises_Guidance_on_Determining_Future_Income_for_OICs.asp The Internal Revenue Service March 10 revised its guidance to employees on figuring the value of a taxpayer's future income in evaluating an offer in compromise, with specific instructions to consider a variety of issues for unemployed or underemployed workers. bna-software-7918 Fri, 12 Mar 2010 00:00:00 PST http://www.bnasoftware.com/News_Articles/News/Senate_OKs_One-Year_Extender_Bill_With_Economic_Substance_Provision.asp The Senate March 10 passed, 62-36, a one-year extension of $31 billion in popular tax breaks, while permanently codifying the economic substance doctrine and imposing new penalties on firms using transactions structured for no purpose other than tax avoidance. bna-software-7915 Thu, 11 Mar 2010 00:00:00 PST http://www.bnasoftware.com/News_Articles/News/Senate_Vote_on_Extension_of_Temporary_Tax_Credits_Bill_Delayed_Until_Today.asp The Senate voted 66-34 March 9 to cut off debate on a one-year extension of $31 billion in temporary tax breaks, as well as longer-term extensions of unemployment insurance benefits and tax credits to help unemployed individuals keep their health insurance. bna-software-7905 Wed, 10 Mar 2010 00:00:00 PST http://www.bnasoftware.com/News_Articles/News/Tax_on_Executive_Bonuses_Under_Consideration_for_Senate_Extenders_Bill.asp The Senate will consider the addition of a new 50 percent tax on executive bonuses in excess of $400,000 as part of the tax extenders legislation (H.R. 4213) set for a final vote March 9. bna-software-7892 Tue, 09 Mar 2010 00:00:00 PST http://www.bnasoftware.com/News_Articles/News/Uncertain_Positions_Proposal_Not_for_2009_Returns;_IRS_Seeks_Comments.asp The Internal Revenue Service said March 5 it is extending the time for submission of comments on its recent proposal for mandatory reporting of uncertain tax positions on business taxpayers' returns, adding that such reporting will not be required for 2009 returns filed in 2010. bna-software-7873 Mon, 08 Mar 2010 00:00:00 PST http://www.bnasoftware.com/News_Articles/News/House_Passes_Job_Creation_Bill_With_$17.6_Billion_in_Tax_Incentives.asp The House March 4 voted 217-201 to pass legislation that includes $17.6 billion in tax cuts aimed at encouraging businesses to hire new workers. bna-software-7846 Fri, 05 Mar 2010 00:00:00 PST http://www.bnasoftware.com/News_Articles/News/Obama_Asks_Congress_to_Bring_Health_Bill_to_Vote_In_the_Next_Few_Weeks.asp President Obama urged Congress March 3 to bring his slightly revised version of the Senate-passed health bill (H.R. 3590) up for a simple majority vote in Congress in the next few weeks, saying the American public can afford to wait no longer. bna-software-7843 Thu, 04 Mar 2010 00:00:00 PST http://www.bnasoftware.com/News_Articles/News/Senate_Halts_Action_on_Tax_Extenders_as_Focus_Returns_to_UI_Extension.asp The Senate suspended work March 2 on legislation to extend $31 billion in tax cuts through the end of 2010 so it could resume efforts to temporarily restore funding for unemployment benefits and federal highway programs, which were idled when Congress allowed funding to expire Feb. 28. bna-software-7841 Wed, 03 Mar 2010 00:00:00 PST http://www.bnasoftware.com/News_Articles/News/Black_Liquor,_Economic_Substance_Are_Senate_Extenders_Offsets.asp Senate Finance Committee Chairman Max Baucus (D-Mont.) in a March 1 statement said that legislation (H.R. 4213) to extend $31 billion in expired tax cuts will be paid for by codifying the economic substance doctrine and denying paper mills a biofuels tax credit for their use of a fuel known as black liquor. bna-software-7840 Tue, 02 Mar 2010 00:00:00 PST http://www.bnasoftware.com/News_Articles/News/Obama_Expected_to_Announce_Plan_This_Week_to_Finish_Health_Reform.asp President Obama the week of March 1 will announce a plan for completing health care reform legislation, White House spokesman Robert Gibbs said Feb. 26. bna-software-7818 Mon, 01 Mar 2010 00:00:00 PST http://www.bnasoftware.com/News_Articles/News/Shay_Says_U.S._Tax_Policy_Must_Reflect_Unique_Economy,_Legal_System.asp Debate over the extent to which U.S. policy makers should be guided by the tax policies of other countries has to take into account the fundamental differences between those countries and the United States, a senior Treasury Department official said Feb. 25. bna-software-7815 Fri, 26 Feb 2010 00:00:00 PST http://www.bnasoftware.com/News_Articles/News/Senate_Passes_First_Installment_of_Tax_Cuts_to_Bolster_Job_Creation.asp The Senate voted 70-28 on Feb. 24 to pass its first installment of economic stimulus of the year, including $16 billion in tax cuts aimed at encouraging businesses to hire new workers. bna-software-7804 Thu, 25 Feb 2010 00:00:00 PST http://www.bnasoftware.com/News_Articles/News/Reid's_Jobs_Bill_Gets_Lackluster_Reviews;_Some_Prefer_Tax_Law_Extension.asp Longer-term policies that give small businesses additional certainty about the tax climate in coming years may be better for the economy than the $16 billion in tax incentives set to pass the Senate Feb. 24, tax policy analysts told the Senate Finance Committee Feb. 23. bna-software-7799 Wed, 24 Feb 2010 00:00:00 PST http://www.bnasoftware.com/News_Articles/News/Obama_Raises_Cadillac_Tax_Threshold_in_Effort_to_Revive_Health_Care_Bill.asp President Obama offered a fresh $950 billion proposal Feb. 22 that would reduce the number of middle-class households that would be affected by an excise tax on high-cost insurance plans as part of an effort to find additional Senate support health care reform. bna-software-7794 Tue, 23 Feb 2010 00:00:00 PST http://www.bnasoftware.com/News_Articles/News/Lincoln,_Collins_Urge_Reid_to_Seek_More_Bipartisan_Take_on_Jobs_Bill.asp Senate Democratic leaders should take a more cooperative approach on their proposal for legislation aimed at stimulating the economy than the $149 billion bill outlined by Senate Majority Leader Harry Reid (D-Nev.), Sens. Blanche Lincoln (D-Ark.) and Susan Collins (R-Maine) said in a Feb. 19 letter to Reid. bna-software-7792 Mon, 22 Feb 2010 00:00:00 PST http://www.bnasoftware.com/News_Articles/News/New_Market_Credits_Expansion_Plan_Proposed_by_Obama_Administration.asp The Obama administration is seeking to expand and reform tax credits aimed at stimulating investment in economically distressed communities, Treasury Secretary Timothy Geithner said Feb. 18. bna-software-7780 Fri, 19 Feb 2010 00:00:00 PST http://www.bnasoftware.com/News_Articles/News/Tech,_Drug_Firms_Face_More_Taxes_if_Income_Shifting_Limits_Adopted.asp President Obama's budget proposal to tax “excess returns” associated with transfers of intangible assets to offshore affiliates is likely to result in larger tax bills for the high-tech and pharmaceutical sectors, as well as other industries that get their money largely from intellectual property, analysts told BNA Feb. 16. bna-software-7772 Thu, 18 Feb 2010 00:00:00 PST http://www.bnasoftware.com/News_Articles/News/IRS_Oversight_Board_Finds_Support_for_Return_Preparer_Regulation.asp Most taxpayers surveyed by the Internal Revenue Service Oversight Board said they believe return preparers should be regulated and should meet competency and ethical standards, the organization said in releasing its 2009 Taxpayer Attitude Survey. bna-software-7749 Wed, 17 Feb 2010 00:00:00 PST http://www.bnasoftware.com/News_Articles/News/Grassley_to_Move_Tax_Extenders_as_Alternative,_Amendments_to_Jobs_Bill.asp Sen. Charles Grassley (R-Iowa) will attempt to move extenders—which Senate Majority Leader Harry Reid (D-Nev.) excluded from the Senate's first jobs bill along with a host of other draft provisions—in a Republican alternative to the bill or as amendments required for it to move forward on the floor, a Grassley spokeswoman told BNA Feb. 12. bna-software-7724 Tue, 16 Feb 2010 00:00:00 PST http://www.bnasoftware.com/News_Articles/News/Baucus-Grassley_Draft_Jobs_Bill_Has_Extenders,_Payroll_Tax_Exemption.asp The draft Senate jobs legislation Finance Committee leaders unveiled Feb. 11 would extend a number of tax code provisions expired as of Dec. 31, 2009, and includes other tax provisions that in part would allow for private-sector employers to bypass their 6.2 percent share of Social Security payroll taxes on workers they hire in 2010. bna-software-7722 Fri, 12 Feb 2010 00:00:00 PST http://www.bnasoftware.com/News_Articles/News/Senate_Passes_Bill_to_Curb_Penalties_for_Tax_Shelter_Investments.asp The Senate passed legislation (S. 2917) Feb. 9 that would limit penalties for individuals and businesses that invest in tax shelters by tying fines to the value of tax benefits received. bna-software-7706 Thu, 11 Feb 2010 00:00:00 PST http://www.bnasoftware.com/News_Articles/News/Reid_Still_Hopes_for_Jobs_Bill_Vote_This_Week_Despite_Weather_Delays.asp Senate Majority Leader Harry Reid (D-Nev.) said Feb. 9 he is working to reach an agreement with Republican leaders that will allow the first installment of the Democrats' “jobs initiative” to reach a vote on the Senate floor by the end of the Feb. 8 week. bna-software-7704 Wed, 10 Feb 2010 00:00:00 PST http://www.bnasoftware.com/News_Articles/News/Obama_Plans_Televised_Bipartisan_Meeting_to_Revive_Health_Bill.asp President Obama announced Feb. 7 he will hold a televised half-day meeting with congressional Republicans and Democrats on Feb. 25 in an attempt to bring health care overhaul legislation back to life. bna-software-7699 Tue, 09 Feb 2010 00:00:00 PST http://www.bnasoftware.com/News_Articles/News/CCA_Issued_on_Whether_to_Disallow_Credit_Where_ITIN-SSN_Mismatch.asp The Internal Revenue Service Office of Chief Counsel in a chief counsel advice memorandum released Feb. 5 explained considerations IRS personnel should take into account in determining whether to disallow a credit for federal income tax withholding when there is a mismatch of Social Security and individual taxpayer identification numbers. bna-software-7620 Mon, 08 Feb 2010 00:00:00 PST http://www.bnasoftware.com/News_Articles/News/Future_of_Physical_Presence_Standard_in_State_Tax_Landscape_Debated.asp Utah State Tax Commissioner R. Bruce Johnson Feb. 4 urged Congress to abandon the physical presence standard for sales taxes and not to consider it for income or business activity taxes in the new economy, as lawmakers look at legislation (H.R. 1083) to require physical presence for certain such activity taxes. bna-software-7618 Fri, 05 Feb 2010 00:00:00 PST