KANSAS CITY, Mo. -- Because of recent gasoline price increases, H&R Block (NYSE:HRB) is recommending the Internal Revenue Service consider raising automobile mileage deduction rates for business, medical or moving purposes and that Congress consider raising the rates for miles driven in service to charities. H&R Block Chairman Richard...
More than 3 million people will have to wait until February to get tax refunds because of Congress' late fix to the alternative minimum tax, the IRS said. Congress on Dec. 19 put a one-year freeze on growth of the alternative minimum tax, shielding many middle- and upper-middle income...
The late passage of the Alternative Minimum Tax "patch" by Congress will delay the filing of some federal returns. The Arkansas Department of Finance & Administration said those who file paper returns for Arkansas should not expect any delays in their returns, but a limited number of taxpayers filing electronic...
Washington is worried about taxes, housing, consumer protection ... the list could go on and on. Congress and the administration have proposed many solutions but seem to accomplish little. On taxes, the alternative minimum tax AMT has taken top billing. For the past few years Congress has been passing...
More than 20 million taxpayers will escape the alternative minimum tax this year, thanks to a stopgap measure Congress approved Wednesday. But lawmakers waited so late in the year to vote that many early filers may have to wait until March to get their refunds. About...
WASHINGTON -- President Bush on Monday pushed Congress to pass a one-year fix to the "alternative minimum tax," which threatens to hit 23 million tax filers, warning that failure to do so could delay $75 billion in tax refunds next year. The alternative minimum tax, or AMT,...
WASHINGTON -- Silena Davis had counted on an early tax refund to pay for getting her teeth fixed. Now, because Congress has dawdled all year on a tax bill, she and millions of other early filers could have to wait extra weeks for refunds that last year averaged $2,291. ...
WASHINGTON -- Silena Davis had counted on an early tax refund to pay for getting her teeth fixed. Now, because Congress has dawdled all year on a tax bill, she and millions of other early filers could have to wait extra weeks for refunds that last year averaged $2,291. ...
WASHINGTON -- Silena Davis had counted on an early tax refund to pay for getting her teeth fixed. Now, because Congress has dawdled all year on a tax bill, she and millions of other early filers could have to wait extra weeks for refunds that last year averaged $2,291. ...
WASHINGTON -- Silena Davis had counted on an early tax refund to pay for getting her teeth fixed. Now, because Congress has dawdled all year on a tax bill, she and millions of other early filers could have to wait extra weeks for refunds that last year averaged $2,291. ...
WASHINGTON -- Silena Davis had counted on an early tax refund to pay for getting her teeth fixed. Now, because Congress has dawdled all year on a tax bill, she and millions of other early filers could have to wait extra weeks for refunds that last year averaged $2,291. ...
The upcoming filing season will be a mess, thanks to Congress. Millions of refunds will be held up. Lawmakers have had all year to increase the minimum tax exemptions for 2007 but have failed to do so. Although taxwriters have guaranteed they'll act this year,...
Millions of taxpayers could see their refunds delayed next year unless Congress acts quickly to approve a stopgap measure that would prevent a huge expansion of the alternative minimum tax, the IRS said Monday. Without the temporary fix, more than 20 million taxpayers will owe the...
EXECUTIVE SUMMARY * In Rudkin, the court determined that the 2%-of-AGI floor applies to an estate or trust's administrative costs, unless the cost is one that individuals are incapable of incurring. * Millions of beneficiaries will be affected by the court's ...
Issues tend to come and go in cycles. Barely a decade ago, Congress was fuming over the need to reform the IRS. A lengthy parade of witnesses testified in committee hearings about IRS abuses reminiscent of strong-arm tactics in some banana republic. A contrite IRS Director Charles Rossotti could do...
Considerable scholarly attention has been paid to litigation and its influence on social and bureaucratic policy. One area of research has focused on interest group litigation. Another area of scholarship has shown that Congress encourages individual use of the courts to monitor and control bureaucratic behavior. In several areas of...
I. INTRODUCTION The Internal Revenue Service's failure to adequately regulate cost-sharing arrangements highlights the need for the U.S. to adopt a territorial tax system. ' Under the current worldwide tax system, cost-sharing arrangements and transfer pricing techniques effectively allow U.S. corporations to move profits overseas.2 Attempting to confront such strategic...
House Speaker-to-be Nancy Pelosi (D.-Calif.) has pledged to take up a lobbying reform proposal that would impose new regulations on speech by grassroots organizations, while providing a loophole in the rules for large corporations and labor unions. The legislation would make changes to the legal definition of "grassroots lobbying" and...
Across the nation, short line railroads serve as a critical link between major rail lines and local communities, and play an indispensable role in the development and success of local economies. In Oregon, more than 1,400 miles of track, fully 55% of the state's railroad infrastructure, is operated by short...
* National Taxpayer Advocate's 2006 Report to Congress, IR-2007-04 In less than three years, one-third of individual taxpayers could be paying AMT, National Taxpayer Advocate Nina Olson predicted in her recently released annual report to Congress. AMT reform was just one of many recommendations in her report, including closing the...
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