The Internal Revenue Service (IRS) Large Business and International division (LB&I) has announced six additional compliance campaigns for taxpayers. A compliance campaign is a targeted directive on a particular issue; they happen when the IRS determines that there are taxpayer issues that require a response from the agency. When the IRS announces a campaign (or campaigns), it’s…
Rep. Dave Camp released his tax reform proposal this week. Among the provisions, one targeting service professions – like lawyers, doctors, architects, engineers and consultants is getting attention. What does it mean for professionals and their clients?
What’s missing in discussions on corporate tax reform: the definition of a corporation. Guest post by Deborah Sweeney.
Whew, S corporation shareholders… You dodged a bullet last week when the bill to raise your taxes was voted down. You mean you didn’t know there was such a bill? Of course, you didn’t. That’s because Congress did what it does best: it snuck a controversial provision to boost taxes on certain S corporation shareholders…
As small businesses collectively hold their breath this summer over the inane Congressional proposal to tax some – but not all – s corporations differently, Sen. Olympia Snowe (R-ME) is offering some hope. Together with Mike Enzi (R-WY), she is filing an amendment to strike the provision from the bill altogether. Calling the tax a…
Apparently, Congress is on a roll. Just a couple of months after they pushed through the massive health care bill (referred to as the Patient Protection and Affordable Care Act, signed into law in March 2010) and debated the similarly hefty Tax Extenders Bill (referred to as the American Workers, State, and Business Relief Act…
Who can resist a war funding bill on Memorial Day? As we expected, a version of the war funding bill finally made it through Congress – and this time, it has a chance of escaping the presidential veto. The bill, with the concise and inauspicious title of “U.S. Troop Readiness, Veterans’ Care, Katrina Recovery, and…