Governor Sanford of South Carolina Calls for Income Tax Rate Cut of 50 Percent. He proposes optional flat tax to be offset by cigarette tax increase.

Agricultural industry taxpayers, farmers and fishermen, who electronically file Form 1040 returns with Form 4136, Credit for Federal Tax Paid on Fuels, must wait until March 3 to e-file the newly-revised Form 4136.

In addition to providing stimulus payments to individuals, the Economic Stimulus Act of 2008 provides incentives to businesses. These incentives include a special 50-percent depreciation allowance for 2008 purchases and an increase in the small business expensing limitation for tax years beginning in 2008.

IRS Provides New Details for Recipients of Social Security, Veterans Benefits and More Information on Stimulus Payments.

The IRS is seeking candidates for membership on the Electronic Tax Administration Advisory Committee (ETAAC). All applicants should submit a resume and complete an application form for the fall vacancies. In addition, the IRS will require a federal tax check waiver and a Federal Bureau of Investigation (FBI) check of the best qualified applicants. The deadline for submitting applications is Tuesday, April 1, 2008.

A new study has compared Swedish taxes with the rest of the world, which shows high taxes in Sweden.

Do you share dividend income with your spouse in your family company? Those contractors who do will pay a significantly higher amount of tax under the new income shifting proposals that the Treasury put forward last week.

A new law just signed by President Bush promises that you will not have surprise income tax on a mortgage short sale or foreclosure...but what does this law really mean?

Republican presidential hopeful Rudy Giuliani plans to propose reducing corporate tax rates and cutting other individual taxes that his campaign said on Friday put a crimp on Americans' wallets.

Inflation in India has come down to 5.77 per cent for the week ended April 21, 2007, as compared to 6.09 percent for the previous week while the Finance Minister of India has promised new Income Tax Code as Parliament clears Finance Bill.

On May 1st, the Internal Revenue Service has issued for public comment draft versions of the revised Form 1120-F, U.S. Income Tax Return of a Foreign Corporation, for tax year 2007 and related schedules, including Schedule M-3, new for 2007.

Denouncing the infamous "Saral" income tax return form as anything but simple, Finance Minister of India P Chidambaram announced the introduction of a fresh set of simplified return forms to be known simply as ITR.