President Barack Obama has proposed a 100 percent bonus depreciation business tax incentive for 2011 to encourage business investment. Obama also wants Congress to make the research-and-development tax credit permanent.
More than a month after Wesley Snipes lost his bid for a new tax trial, his name continues to appear in court documents and news headlines. Most recently, a New York woman has accused him of stalking her as a way to resolve his tax woes.
Crocodile Dundee star Paul Hogan owes tax on AU $37.6 million (approximately $34 million U.S.) of undeclared income, according to the Australian Tax Office, which temporarily banned him from leaving the continent until he agreed to pay up.
The Internal Revenue Service has released a draft version of the form that small businesses and tax-exempt organizations will use to calculate the small business health care tax credit when they file income tax returns next year.
The Internal Revenue Service has issued guidance reflecting statutory changes regarding the use of certain tax-favored arrangements, such as flexible spending arrangements (FSAs), to pay for over-the-counter medicines and drugs.
The American Institute of Certified Public Accountants has engaged the National Association of Certified Valuation Analysts to develop a course to help CPAs prepare for the qualifying exam for the Certified in Financial Forensics credential.
Officials with the Internal Revenue Service last week said that the agency would drop its civil lawsuit against UBS following assurances from the Swiss government that it was in the process of delivering information on thousands of American clients suspected of using UBS accounts to evade U.S. taxes.