The House of Representatives approved on Thursday a bill that would permanently extend Bush administration tax cuts for the middle class but allow rates for wealthier taxpayers to increase.
President Barack Obama told newly elected state governors that he's “optimistic” the administration will reach a deal on tax cuts with congressional Democrats and Republicans before the end of the year.
Congress won't act directly on a proposal approved by a presidential deficit commission this week, but elements of the plan could become part of legislative proposals in coming months to address huge fiscal imbalances.
Preferential tax treatment for retirement programs and insurance products are threatened in a draft proposal from the chairmen of the national deficit commission, according to advocates.
Corporate pension industry lobbyists are bracing for an attack on the tax breaks for pension plans as the White House and federal lawmakers struggle to slash the federal budget deficit
Putnam Investments chief Robert Reynolds went to Washington last Wednesday to urge Congress to save Social Security — just not in the way financial services industry executives usually -recommend
It's that time of year when you are talking to clients about taxes.
In light of a recent IRS decision that took some by surprise, there's one options strategy we're not likely to see anymore
There are multiple strategies that can be employed once we know what will happen with taxes in 2011
Erskine Bowles and Alan Simpson, co-chairmen of the National Commission on Fiscal Responsibility and Reform, have accomplished something politicians rarely achieve: Their plan to cut the federal government's deficit to a sustainable 2% of gross domestic product over a number of years includes something distasteful to virtually everyone.
In the rush of year-end activity, it's important not to forget your IRA-related to-do list. The following are some of the most overlooked year-end items.
The uncertainty of the Social Security system is making retirement's three-legged stool a bit wobbly.
Financial advisers are bulking up their resources — and bracing for client complaints — as they prepare for the Jan. 1 deadline to begin complying with new cost basis rules.
Don't expect Citigroup Inc., the Carnegie Deli or any other Big Apple business to relocate to Sioux Falls anytime soon, but the moves certainly would make tax sense
It remains to be seen whether lawmakers will extend tax cuts set to expire at the end of the year
If you want to believe that the lame-duck Congress will come to the rescue after Election Day and renew the Bush-era tax cuts, return the estate tax to its more palatable 2009 levels and increase the exemptions from the alternative-minimum tax, go ahead.
When it comes to tax planning, the general consensus among financial advisers and accountants can be summed up in that old motto: Don't put off until tomorrow what you can do today
Accountant helps Charlie Moneymaker, other card sharps with taxes, finances; 'don't get stupid'
If you want to believe that the lame-duck Congress will come to the rescue after Election Day and renew the Bush-era tax cuts, return the estate tax to its more palatable 2009 levels and increase the exemptions from the alternative-minimum tax, go ahead
Lack of cost-of-living adjustment for Social Security hits retirees where it hurts, advisers say
