U.S. No. 2 in World in Renewable Energy Investing, but Has Room for Improvement, Report Says

WASHINGTON, D.C.—The United States ranked second after China in amount invested in renewable energy, a report released by Pew Charitable Trusts March 25 found.

House Subcommittee Passes Bill to Set up Home Energy Efficiency Rebate Program

WASHINGTON, D.C.—A House Energy and Commerce subcommittee March 24 approved legislation that would establish a $6 billion homeowner energy efficiency rebate program, despite Republican concerns about the program’s cost.

EPA Will Not Issue Final ‘Tailoring Rule’ on Greenhouse Gas Emissions by March 31 Deadline

WASHINGTON, D.C.—The “tailoring rule” proposed by the Environmental Protection Agency to limit the application of greenhouse gas emissions controls to only the largest new and modified sources will not be finalized by the March 31 deadline originally set by the agency, the top EPA air official said March 24.

District Court Erred in Disclosing Financial Details of Alleged Tax Evader

The U.S. Court of Appeals for the 10th Circuit March 23 remanded a case for further proceedings where the court had to determine the scope of certain protective orders entered to safeguard personal financial information provided by an alleged tax evader who was also the victim of a securities fraud scheme

IRS Offers Its Agents Road Map for Auditing Distressed Asset Trust Tax Shelter Deals

The Internal Revenue Service March 24 gave its agents a detailed road map for auditing distressed asset trust (DAT) tax shelters, deals in which taxpayers use trusts to shift built-in losses from a tax-indifferent party to a U.S. taxpayer who has not incurred an economic loss.

House Passes $19 Billion Small Business Tax Bill

The House March 24 passed a $19 billion small business tax bill by a 246-178 vote, sending the debate on creating jobs and stimulating the economy to the Senate.

California Governor Signs Gasoline Tax Swap Bills After Democrats Send Tax Credit Bills

Gov. Arnold Schwarzenegger (R) dropped a veto threat March 22 and signed two bills swapping the current sales tax on gasoline for an indexed excise tax to close part of the budget deficit…

Administration’s International Tax Proposals Stand-Alone Provisions, Not Package, Treasury International Tax Counsel Says

The international tax proposals in the Obama administration’s fiscal year 2011 budget should be viewed as individual provisions that can be included in legislation for…

Tax Professionals Discuss Implementation of Health Care, Reconciliation Measures

Tax professionals March 23 outlined a number of questions and concerns raised by implementing health care overhaul legislation in a series of interviews with BNA…

Obama Signs Health Care Overhaul Bill Into Law, But Key Tax Changes Remain in Senate

President Obama March 23 signed into law a bill (H.R. 3590) overhauling the health care system, while action on a bill (H.R. 4872) to make major changes to the new law’s key tax…

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