There's nothing new about governments trying to use tax as behavior modification. They've been doing it forever. Now the behavior being targeted in some areas of the country is the choice at the grocery store of "paper or plastic."
UDPATE: President Obama has signed the student loan rates bill into law. The bill that will lower interest rates on federal subsidized Stafford student loans was approved by the House of Representatives on July 31.
Two Iowa lawmakers led a bipartisan group of five senators in introducing a bill on July 23 that would increase the alternative tax liability limitation for small property and casualty insurance companies.
A bipartisan bill that would provide a permanent tax incentive to family farmers, ranchers, and other landowners who choose not to develop their land but preserve it for conservation is expected to be introduced by two lawmakers in the House.
A little more than two weeks after the interest rates on federal subsidized Stafford student loans jumped from 3.4 percent to 6.8 percent, a tri-partisan group of senators reached a compromise that would lower interest rates.
The AICPA gave its support to Senate Bill 273 and House Bill 2041 that would block a 2010 proposal by the Department of Labor to change its definition of fiduciary under the Employee Retirement Income Security Act to include appraisers of ESOPs.
The Maryland Court of Appeals on July 9 voted five to two against changing the state's 166-year-old contributory negligence doctrine, which prevents people from collecting damages in a lawsuit if they contributed to their injuries in any way.
The common perception is that most of the key provisions included in the Patient Protection and Affordable Care Act take effect in 2014. But employers should be advised that other responsibilities and rights kick in before then.
Ohio Senator Rob Portman and Louisiana Congressman Charles Boustany Jr. introduced legislation on June 11 that would allow enrolled agents to be able to identify themselves with their Treasury Department-granted credential in any state in the country.
By a vote of twenty-seven to nine, the California Senate approved a bill that would revoke the tax-exempt status from nonprofit youth organizations that discriminate on the basis of sexual orientation, gender identity, or religious affiliation.
California lawmakers are expected to vote this week on California Senate Bill (SB) 323, which would deny state tax breaks to youth groups that discriminate on the basis of sexual orientation, gender identity, or religious affiliation.
New legislation authorizing the states to collect sales tax from companies peddling their wares online breezed through the Senate on May 6 by a wide 69-27 margin. But the Marketplace Fairness Act is expected to face much tougher opposition in the Republican-controlled House of Representatives.
The federal government moved one step closer toward imposing state sales tax on online retail sellers when the Senate voted on April 22, 2013, to bring the Marketplace Fairness Act of 2013 to the floor for limited debate.
A court ruling last week that upholds a decision to force online retailers to collect New York State sales tax may force a Supreme Court battle or action by Congress to allow states to claim tax revenues they've lost to online purchases.
The US Department of the Treasury and the IRS jointly issued comprehensive final regulations under the Foreign Account Tax Compliance Act (FATCA) for reporting and withholding taxes on US taxpayers with financial accounts held abroad.
In what may represent an early example of a growing industry opportunity for accountants, Medical Marijuana Inc. said it has hired the accounting firm of Anthony W. Imbimbo CPA & Associates to be its auditor.
The agreement hammered out in the Senate, and subsequently approved by the House on January 1, pulled the nation back from the edge of the fiscal cliff. President Obama signed the "American Taxpayer Relief Act" into law on January 2. Here's an overview of the key tax provisions in store for individual and business clients in 2013.