The House Small Business Committee held a hearing last week, which was endowed by the Committee majority with the title “Modernizing the Tax Code: Updating the Internal Revenue Code to Help Small Businesses Stimulate the Economy.” Of course, both hearing witnesses and Committee Republicans used the occasion to lobby hard for making the 2001 and [...]
Given what is happening in the rest of the economy, it should come as no surprise that most taxpayers are filing, on the lookout for a tax refund that can give them a bit of fiscal breathing room. Still, there are always those last-minute types — including a certain number of microbusiness owners who may [...]
A new study released by the SBA Office of Advocacy last week has found that the tax burden of small businesses in bankruptcy is more pervasive than that of consumers in the same unfortunate circumstances. In fact, while fewer than 25% of consumer petitioners report some tax debt, more than half of small business petitioners [...]
Cash-strapped state governments looking to tap into the tax revenues to be had from remote and interstate commerce have overstepped their bounds once again. The politics of the situation dictate that they won’t get congressional approval of their plan to require remote sellers to collect and remit their sales taxes any time soon. Some states [...]
One of the highlights of January in Washington took place last week when IRS National Taxpayer Advocate Nina Olsen issued her annual report to Congress for the 2007 tax year. Olsen is still grousing about the tax gap, although she is more focused on administrative adjustments the IRS could make to address the problem rather [...]
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from The Journal Blog