U.S. Law Watch » Business Taxes http://www.uslawwatch.com U.S. Legal & Regulatory Headlines Thu, 26 Jan 2012 18:07:29 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 BNA INSIGHTS: Industry Effects of the President’s FY 2011 Business Tax Proposals http://www.uslawwatch.com/2010/04/30/tax/bna-insights-industry-effects-presidents-fy-2011-business-tax-proposals/ http://www.uslawwatch.com/2010/04/30/tax/bna-insights-industry-effects-presidents-fy-2011-business-tax-proposals/#comments Fri, 30 Apr 2010 16:55:16 +0000 admin http://www.uslawwatch.com/?p=1851

The president’s fiscal year 2011 budget proposes $443 billion of tax increases on businesses over 2010-20, with a number of proposals aimed at increasing taxes on specific industries (e.g., finance and insurance industries, $165 billion; manufacturing, $94 billion)…

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]]> http://www.uslawwatch.com/2010/04/30/tax/bna-insights-industry-effects-presidents-fy-2011-business-tax-proposals/feed/ 0 Senate Clears $13 Billion in Tax Incentives for Job Creation for President’s Signature http://www.uslawwatch.com/2010/03/18/tax/senate-clears-13-billion-tax-incentives-job-creation-presidents-signature/ http://www.uslawwatch.com/2010/03/18/tax/senate-clears-13-billion-tax-incentives-job-creation-presidents-signature/#comments Thu, 18 Mar 2010 10:37:39 +0000 admin http://www.uslawwatch.com/?p=1358

The Senate March 17 voted 68-29 to pass $13 billion in tax breaks for hiring new workers, an expansion of incentives for financing construction activity, and an extension of higher expensing limits for capital investments made by small businesses.

The Hiring Incentives to Restore Employment (HIRE) Act (H.R. 2847) was…

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]]> http://www.uslawwatch.com/2010/03/18/tax/senate-clears-13-billion-tax-incentives-job-creation-presidents-signature/feed/ 0 House Passes Job Creation Bill Granting $17.6 Billion in Tax Incentives for Businesses http://www.uslawwatch.com/2010/03/05/tax/house-passes-job-creation-bill-granting-176-billion-tax-incentives-businesses/ http://www.uslawwatch.com/2010/03/05/tax/house-passes-job-creation-bill-granting-176-billion-tax-incentives-businesses/#comments Fri, 05 Mar 2010 13:05:25 +0000 admin http://www.uslawwatch.com/?p=1160

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.

Several changes were made to the measure (H.R. 2847), including some technical changes designed to improve the administration of the hiring tax incentives while ensuring the measure conforms to the House’s pay-as-you-go rules (40 DTR G-4, 3/3/10).The Congressional Budget Office confirmed March 4 that…

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]]> http://www.uslawwatch.com/2010/03/05/tax/house-passes-job-creation-bill-granting-176-billion-tax-incentives-businesses/feed/ 0 Senate Extenders Bill Includes ‘Black Liquor,’ Economic Substance Provisions as Offsets http://www.uslawwatch.com/2010/03/02/tax/senate-extenders-bill-includes-black-liquor-economic-substance-provisions-offsets/ http://www.uslawwatch.com/2010/03/02/tax/senate-extenders-bill-includes-black-liquor-economic-substance-provisions-offsets/#comments Tue, 02 Mar 2010 10:38:54 +0000 admin http://www.uslawwatch.com/?p=1104

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.

The revenue raisers would be used to offset one-year extensions of more than 40 tax cuts for individuals and businesses that already…

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]]> http://www.uslawwatch.com/2010/03/02/tax/senate-extenders-bill-includes-black-liquor-economic-substance-provisions-offsets/feed/ 0 ANALYSIS: Tax Administration Without Borders: Navigating the Changing Global Tax Controversy and Risk Management Landscape http://www.uslawwatch.com/2010/02/22/tax/analysis-tax-administration-borders-navigating-changing-global-tax-controversy-risk-management-landscape/ http://www.uslawwatch.com/2010/02/22/tax/analysis-tax-administration-borders-navigating-changing-global-tax-controversy-risk-management-landscape/#comments Mon, 22 Feb 2010 12:50:08 +0000 admin http://www.uslawwatch.com/?p=989

Mark Weinberger, Bob Brown, and Deborah Nolan write that tax policy and tax administration are undergoing monumental changes, with more on the horizon. In a special report, they highlight the forces that have been driving unprecedented change in the global tax landscape—and the impact that resulting increases in tax controversy and risk management are having on companies…

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]]> http://www.uslawwatch.com/2010/02/22/tax/analysis-tax-administration-borders-navigating-changing-global-tax-controversy-risk-management-landscape/feed/ 0 Obama Administration Proposes to Expand, Reform Tax Credit Program to Better Assist Small Businesses http://www.uslawwatch.com/2010/02/19/tax/obama-administration-proposes-expand-reform-tax-credit-program-assist-small-businesses/ http://www.uslawwatch.com/2010/02/19/tax/obama-administration-proposes-expand-reform-tax-credit-program-assist-small-businesses/#comments Fri, 19 Feb 2010 15:06:47 +0000 admin http://www.uslawwatch.com/?p=973

DURHAM, N.C.—The Obama administration is seeking to expand and reform tax previous hitcreditsnext hit aimed at stimulating investment in economically distressed communities, Treasury Secretary Timothy Geithner said Feb. 18.

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]]> http://www.uslawwatch.com/2010/02/19/tax/obama-administration-proposes-expand-reform-tax-credit-program-assist-small-businesses/feed/ 0 ANALYSIS: The Wells Fargo Case and Economic Substance: Revisiting the Blueprint for Taxpayer Success http://www.uslawwatch.com/2010/02/18/tax/analysis-wells-fargo-case-economic-substance-revisiting-blueprint-taxpayer-success/ http://www.uslawwatch.com/2010/02/18/tax/analysis-wells-fargo-case-economic-substance-revisiting-blueprint-taxpayer-success/#comments Thu, 18 Feb 2010 10:42:57 +0000 admin http://www.uslawwatch.com/?p=941

Nancy Bowen of Fulbright & Jaworski LLP follows up on an earlier Viewpoint article she co-authored that analyzed two recent taxpayer victories on economic substance: Consolidated Edison Co. v. United States and Shell Petroleum Inc. v. United States. The previous article identified common factors from the cases that provide a “blueprint for taxpayer success in proving economic substance,” Bowen writes, and the recent case of Wells Fargo & Co. v. United States “provides a unique opportunity to revisit and test the common factors that were identified…”

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]]> http://www.uslawwatch.com/2010/02/18/tax/analysis-wells-fargo-case-economic-substance-revisiting-blueprint-taxpayer-success/feed/ 0 Senator Grassley to Move Delayed Tax Extenders as Alternative or Amendments to Jobs Bill http://www.uslawwatch.com/2010/02/15/tax/senator-grassley-move-delayed-tax-extenders-alternative-amendments-jobs-bill/ http://www.uslawwatch.com/2010/02/15/tax/senator-grassley-move-delayed-tax-extenders-alternative-amendments-jobs-bill/#comments Mon, 15 Feb 2010 10:03:18 +0000 admin http://www.uslawwatch.com/?p=878

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.

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]]> http://www.uslawwatch.com/2010/02/15/tax/senator-grassley-move-delayed-tax-extenders-alternative-amendments-jobs-bill/feed/ 0 Obama Memo Blocks Delinquent Contractors from Receiving New Federal Contracts http://www.uslawwatch.com/2010/01/21/tax/obama-memo-blocks-delinquent-contractors-receiving-federal-contracts/ http://www.uslawwatch.com/2010/01/21/tax/obama-memo-blocks-delinquent-contractors-receiving-federal-contracts/#comments Thu, 21 Jan 2010 12:00:19 +0000 admin http://www.uslawwatch.com/?p=600

President Obama Jan. 20 issued a presidential memorandum that directs the Office of Management and Budget, the Treasury Department, and other federal agencies to take steps to block contractors who are delinquent on their taxes from receiving…

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