Tax news

Tax

Could Enrolled Agents Take the Place of CPAs?

The accounting profession is certainly aware of the Enrolled Agent (EA), but is it likely that the EA could some day take the place of the CPA?Not likely, mostly because EAs specialize in only tax. Still, it's certainly worth a look. While there are only 35,000 EAs compared to an estimated half-million CPAs and public accountants, EAs actually report to the government rather than a state board of accountancy.
Tax

Editor Speaks Out on Congressional Tax Debates

As the 106th Congress prepares to end its final session, I can't help but think back on the major tax-related congressional events of the past year. So much hype about the repeal of the estate tax and the end of the marriage penalty -- huge changes in the tax laws that either directly or indirectly would have affected many Americans for the better and none for the worse. Was it all for political posturing?
Tax

The IRS is Wrong 46 Percent of the Time!

Who would have thought anyone would actually confirm what the CPA profession has known for a long time ... that the Internal Revenue Service actually makes mistakes!A study by the U.S.
Technology

Europe vs. US in Tax War Over Software Sales

In June this year, the European Commission closed a tax loophole for US companies, when it said that they had to charge VAT for software and music sold over the Internet. The proposal also said US companies could choose in which European Union country they wanted to pay VAT. However, European governments are questioning the Commission's proposals. Until now, many US companies have avoided paying VAT because the current legislation does not take Internet sales into account.
Tax

Less To The IRS Next Year

PLEASE NOTE: This press release has been revised on September 29, 2000 and reissued to reflect the Department of Labor's corrected CPIU figures.CONTACT:Mary Dale Walters847-267-2038mediahelp@cch.comNeil Allen847-267-2179allenn@cch.comLESS TO THE IRS NEXT YEAR:CCH RELEASES TAX BRACKET CHANGES FOR 2001(RIVERWOODS, ILL., September 29, 2000) – Some modest tax relief is in store for 2001, no matter who wins the presidential election, according to CCH INCORPORATED (CCH), which today released estimated income ranges fo
Tax

Is Your State Friendly to Entreprenuers?

How friendly is your state's public policy in supporting small business and entrepreneurs?A new report called the 'Small Business Survival Guide Index' issued by the Small Business Survival Committee found that South Dakota, Nevada, Wyoming, New Hampshire and Texas were the top five states, in order.Consequently, the bottom of the list, beginning with number 46, included Ohio, Minnesota, New Mexico, Rhode Island, Hawaii and the District of Columbia.
Tax

IRS Restructuring Begins Today

Today is the first workday of the new fiscal year and is the day that the new restructuring plan for the IRS takes effect. The agency’s old structure of dividing taxpayers by geographic boundaries will be replaced with a new, specialized system built around specific divisions meant to deal with taxpayers with common needs.The new IRS will be made up of the following four divisions:WAGE AND INVESTMENTWage and Investment (W&I) serves individual taxpayers.
Tax

New IRS Appeals Hotline Number

1-877-457-5055The Internal Revenue Service now has a toll-free help line for questions related to the Appeals process. The number is 1-877-457-5055. The system will automatically route callers to the appropriate Appeals Office site. Previously, each of the 33 Appeals offices nationwide used a local number that was not toll-free. The toll-free service will make it easier and more convenient for taxpayers to obtain assistance.
Tax

Tax Projections Show Lower Payments to IRS for FY 2001

When Americans pay their taxes on April 15, 2002, CCH Incorporated predicts the tax liability will be lower than in previous years.Due to low inflation, CCH believes the tax results based on income adjustments for single and married taxpayers will be more for 2001 than the previous two tax years.
Tax

Clinton Opposes 5-Year Internet Tax Moratorium

Earlier this year the House passed a measure to freeze any attempts at an Internet tax for five years.
Technology

States get Another Chance for Internet Tax

It looked as if the taxing of goods bought over the Internet was a moot point until at least 2005 (however, see related story), but states may get another chance to get rich based on a new plan being pushed by Sen. John McCain (R-AZ).McCain and others in Congress have said that they would support Internet taxation if states were to simplify their tax structure.
Tax

On the Move: Barr Leaves IRS for Dell

According to sources, the very high-profile Robert E. Barr who headed up the Internal Revenue Service's Electronic Filing initiative, is leaving the public sector to take a job with Dell Computer in Austin, Texas.The move may take place as soon as the next several weeks. Mr. Barr, the Service's assistant commissioner for Electronic Tax Administration, was with Intuit prior to joining the IRS.He will assume the role of marketing director for Dell.
Tax

CCH Annual Consumer Taxes Survey

CONTACT:MARY DALE WALTERS847-267-2038mediahelp@cch.com NEIL ALLEN847-267-2179allenn@cch.comSTATES STAY THE COURSE WITH GAS, SALES, CIGARETTE TAXES(RIVERWOODS, ILL., September 11, 2000) – It may be a small consolation, but motorists in a few states will be paying lower gas taxes on their high-priced gas this summer, according to CCH INCORPORATED (CCH), a leading provider of tax and business law and software.
Technology

Germans Can Surf Once Again

German Chancellor Gerhard Shröder rescinded an earlier plan to impose a tax on personal use of the Internet in the workplace.
Tax

IRS Reorganizing for Better Customer Service

In an attempt to provide better customer service the Internal Revenue Service has planned to begin rearranging some of its service centers starting Oct. 1.Not all taxpayers will be affected by the change, though. Only 12 states will be changed for individual taxpayers and 16 states will be changed for business taxpayers. Some taxpayers may find they have to file their individual return at a separate center from their business returns.Once the transition is finished 116 million individual returns for the wage and investment operation division will be processed by eight centers.
Tax

Another Tax Bill Bites the Dust

House Democrats sided with President Clinton Wednesday in failing to override Clinton’s veto of the marriage tax penalty. The vote was 270-158 meaning the override vote failed by only 16 votes of the required two-thirds majority necessary for the veto override. Forty-nine Democrats voted with the Republican majority to override the veto and 157 Democrats voted with the President.House Majority Leader Dick Armey spoke out after the vote, saying, “Americans understand it is wrong to tax marriage.
Tax

Tax Survey Finds Confusion Across State Lines

It seems nothing is more complicated than our nation's tax system, especially from state to state.
Tax

Tax Analysts Give Thumbs Up to Bush Plan

The Joint Committee on Taxation, a non-partisan group that provides all the estimates of the cost of tax legislation on Capital Hill, has given thumbs up to Bush and thumbs down to Gore with regard to tax legislation the two candidates are proposing in their campaign speeches.According to documents released on Friday, the Joint Committee on Taxation, claims that George W.
Tax

Link to New Per Diem Rates

The IRS recently released new per diem rates for travelers. These rates are effective October 1, and may be used in lieu of previously published year 2000 rates. Taxpayers who prefer to use the previous rates may do so until December 31, 2000.The complete table of rates by city is available for downloading or online perusal.
Tax

Estate Tax Repeal Officially Dead

Members of the House of Representatives voted Thursday in an attempt to override President Clinton's veto of the bill that would repeal the federal estate and gift tax.The vote fell 14 votes short, largely due to votes from Democrats who were not present last spring for the original vote on this bill in the House.This marks the official end of this bill as an override vote was necessary from both the House and the Senate to kill the veto.

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