WASHINGTON D.C. - Wyoming and South Dakota have the best tax climates for business across all of the states in the USA. The Tax Foundation has released its latest study of business taxes across the USA, highlighting the difference in tax environments faced by enterprises across the country in the 2012 edition of the State Business Tax Climate Index released on January 25th . The Index ranks each state based on the taxes applied directly on businesses and working individuals, and on the number ... Read More

WASHINGTON D.C. - The IRS has launched its e-File programs for 2012, offering free tax preparation software to families with incomes below USD 57 000. With the US tax filing season now well under way, on January 17th the Internal Revenue Service (IRS) relaunched its e-File system, allowing taxpayers to submit their tax returns online using free tax preparation software and tools. The e-File consist of the Free File, which provides taxpayers with free tax preparation software, and Free File Fillable Forms which ... Read More

WASHINGTON D.C. - President Barack Obama is set to push for new tax measures aimed at raising national employment levels by encouraging firms to move their manufacturing operations to the US. While giving a speech at the Insourcing American Jobs forum in Washington D.C. on January 12th, the President Barack Obama announced that by the end of February he will propose several new tax measures which, according to him, will reduce the number of companies outsourcing manufacturing work overseas, and will improve the ... Read More

WASHINGTON D.C. - Following the success of previous US offshore voluntary disclosure programs, the US tax authorities are once again offering taxpayers an incentive to reveal information about any bank accounts they have hidden overseas. On January 9th the US Internal Revenue Service (IRS) announced that it has initiated another Offshore Voluntary Disclosure (OVD) program for taxpayers to declare their hidden offshore assets in exchange for lowered penalties. The new program started on the day of the announcement, and will continue indefinitely. Taxpayers ... Read More

ALBANY - Tax revenues are on the rise in the USA, with almost every state reporting an overall increase in tax collections when compared to last year. On December 8th the Nelson A. Rockefeller Institute of Government released its quarterly report on tax revenues across the states of the USA, which showed that in the 3rd quarter of 2011 overall tax revenue levels rose by 7.3 percent, when compared to the same period in 2010. The change was comprised of a 9.2 ... Read More