Carried Interest Tax Increase, S Corporation Curbs Softened in New Tax Extenders Proposal by Senate Finance Panel Chair Baucus

Senate Finance Committee Chairman Max Baucus (D-Mont.) June 16 introduced a new substitute amendment (S. Amdt. 4369) to the tax extenders bill (H.R. 4213) that would…

IRS Uncertain Positions Documents Answer Some Questions, Leave Others, Practitioners Say

The draft schedule and instructions that taxpayers would use to report uncertain tax positions, unveiled by the Internal Revenue Service April 19, are administratively helpful and well…

IRS Unveils Draft Schedule, Instructions for Reporting Uncertain Tax Positions

The Internal Revenue Service April 19 unveiled the eagerly awaited draft schedule and instructions that taxpayers would use to report their uncertain tax positions under…

Bipartisan House Vote Sends Bill Changing Cell Phone Taxation to Senate

The House April 14 passed a taxpayer assistance bill (H.R. 4994), sending the Senate a measure that would remove cell phones from listed property under tax code Section 280F, thereby eliminating…

House Ways and Means Panel OKs Small Business Tax Bill; Treasury Concerned over Language Impacting Tax Treaties

The House Ways and Means Committee March 17 approved a $17 billion small business tax bill (H.R. 4849) but changes might be forthcoming after…

Proposals on Tax Havens, Job Creation Expected to Clear House Ways and Means Committee Today

The Ways and Means Committee is expected to approve legislation (H.R. 4849) March 17 that would extend the Build America Bonds program, but that support will…

Government Cannot Impose 40 Percent Penalty for Participation in Son of BOSS Tax Shelter, Texas Judge Rules

A magistrate judge for the U.S. District Court for the Eastern District of Texas March 9 found that the government cannot impose a 40 percent penalty for…

Attorneys Who Fail to Disclose Foreign Opposition May Face Sanctions, Justice Department Official Says

Attorneys who deal with foreign cases and documents were told March 5 by a Department of Justice Tax Division attorney that there is no Fifth Amendment…

House Democrats Welcome Obama’s Latest Health Care Reform Plan; Senate Still Sparring on Reconciliation Use

House Democrats give President Obama’s most recent health reform proposal a warm reception, though members say they are reserving final judgment on it…

Obama Seeks to Revive Health Care Reform by Raising ‘Cadillac Tax’ Threshold Again

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…

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