Here’s what I love about President Obama’s Framework for Business Tax Reform: His diagnosis of the problem is spot on. In just a few pages, the Treasury Department does a marvelous job describing what’s wrong with the way the U.S. taxes business. Anybody interested in understanding why the tax code is such a mess should [...]

The Supreme Court yesterday decided Kawashima v. Holder, ___ U.S. ___, ___ S.Ct. ___, 2012 U.S. LEXIS 1084 (2012), enhanced opinion available to lexis.com subscribers with summary, headnotes, and Shepard's. (Non-subscribers can download the un…

The Obama administration plans to release its long-awaited corporate tax reform plan February 22, a senior administration official confirmed February 21. The official did not offer details about the plan's contents. In testimony before several…

The U.S. Supreme Court on February 21 denied petitions for writs of certiorari in a Kentucky general tax lien case and a New Mexico excise and property tax case. In Wells Fargo Bank et al. v. Kentucky Department of Revenue, the Kentucky Supreme Co…

Even though new proposed regulations delayed until 2016 the effective date of requirements under the U.S. Foreign Account Tax Compliance Act for foreign banks in jurisdictions with legal impediments to complying with FATCA, there is still much work for…

View all the federal tax news headlines for February 22nd from TaxAnalysts® on LexisNexis Tax Center
View all the state tax news headlines for February 22nd from TaxAnalysts® on LexisNexis Tax Center
View all the international tax news headline…

Practitioners Tax Action Bulletins – No. 2012-03
(02/22/2012) Adequate Disclosure on 2011 Returns: The IRS updated the circumstances when disclosure of an item or position on an income tax return will avoid the substantial understatement penalty …

Until he talked about tax reform, Treasury Secretary Timothy Geithner's spirited defense of administration policy was making a lot of sense.
The scene was the venerable Senate Finance Committee hearing room the day after the release of President O…

The other day, I criticized the unwillingness of Congress to finance the latest extension of the payroll tax cut. Since that blog, the Congressional Budget Office released its estimates of the cost of the entire mini-stimulus, including the so-called “doc fix” and changes in unemployment compensation. And the games were even worse than I feared. [...]

The goal of the IRS Large Business and International Division's Global High-Wealth (GHW) Industry group is to "get in and out" as soon as possible in examining the returns of high net worth individuals, but the group is subject to many of…