Congress set to issue virtual taxation report in August
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Blog: The Congressional Joint Economic Task Force expects to issue its report on the taxation of virtual goods this August during the Congressional recess.
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The U.S. Senate has passed legislation that would extend a moratorium on Internet access taxes for seven years, giving supporters hope that an extension will be signed into law before the current moratorium expires Nov. 1.
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Got a shoebox full of receipts from purchases you made this year? Hold onto them and make sure to have them handy come tax time. Congress this week temporarily reinstated a law that gives Texans - as well
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WASHINGTON - House Ways and Means Committee Chairman Charles Rangel said he will propose a tax increase on executives at buyout firms and hedge funds to pay for a temporary fix to the alternative minimum tax that lawmakers agree must pass this year.
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The U.S. Congress could move as early as July toward passage of a bill to raise taxes on Blackstone Group LP and other private equity firms that go public, congressional staffers said on Friday.
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The House has scheduled votes this week on open-government bills. They would:  - Require organizations established for the purpose of raising funds for presidential libraries to disclose the sources of contributions of $200 or more.
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The Senate is expected to follow the lead of the House and pass a major overhaul of corporate tax law that would dole out $136 billion in new tax breaks to a wide array of US companies and provide a $10.
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By American News, Aberdeen, S.D.  Sep. 17--Giving citizens the ability to search and track federal spending through an Internet Web site is a wonderful idea.   Last week the House of Representatives passed a bill that will do just that.
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New York State has revived a plan to tax online purchases using a novel legal theory. Amazon is fighting this move, and national efforts to force it to collect sales tax for all states. It says the current rules are too complex, even though it routinely handles far more complected tasks.
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By Jerri Stroud, St. Louis Post-Dispatch  Sep. 7--A St. Louis County accounting firm has a cure for the high cost  of traveling to trade shows: a virtual technology fair.
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WASHINGTONÂ -- With the U.S. Congress winding down its work for 2004, technology lobbying groups are stepping up their push for lawmakers to pass several pieces of legislation, including extensions to a research and development (R&D) tax credit and an Internet access tax moratorium.
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A House-Senate conference is expected to agree today to extend a package of tax cuts set to expire at the end of this year.
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Legislation to temporarily ban taxing Internet access is poised for approval this week after the US Senate approved the legislation and worked out wording acceptable to Congress.
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The government is set to unveil details of changes to capital gains tax (CGT), amid reports of concessions.
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The U.S. House of Representatives has approved a seven-year extension to an Internet tax ban, the final step before the legislation heads to President George Bush to be signed into law.The House on Tuesday approved the Senate version of the Internet tax moratorium, which would ban Internet-only taxes such as access taxes for seven years. The current ban has been in effect since 1998, except for a lapse during most of 2004.Many supporters of the moratorium had&#160;called for a permanent ban, but some lawmakers and state and local government groups had&#160;raised concerns&#160;that a permanent ban would hurt state and local governments&#39; ability to raise money. Opponents of a permanent ban also questioned if telecom carriers would try to expand the ban to services such as VoIP.Bush is expected to sign the legislation. He has supported an Internet tax ban, and he signed the last extension, passed by Congress in late 2004.The ban on Internet taxes expires Thursday. Lawmakers in favor of extending the ban say it&#39;s important to promote the adoption of broadband, which, in turn, creates jobs and improves the U.S. economy.Earlier this month,&#160;the House passed a four-year extension. After the Senate passed the seven-year ban last Thursday, the House on Tuesday voted 402-0 for the seven-year ban.The tax moratorium does not ban sales taxes online. It applies only to taxes that would be unique to the Internet, including taxes on Internet access.Sen. John Sununu, a New Hampshire Republican, praised the House for passing the seven-year ban, which he cosponsored. The Senate version of the bill, awkwardly named the Internet Tax Freedom Act Amendments Act, specifically exempts e-mail and instant messaging from taxes after some groups raised concerns that the House version of the bill could allow taxes on those services.&quot;It&#39;s great to see Congress act on time for a change and take an enormous step for Internet tax freedom -- banning access taxes and protecting e-mails and instant messaging for the next seven years,&quot; Sununu said in a statement. &quot;I will continue to fight for a permanent ban on access taxes, but this is a strong step forward. Taxing the Internet is wrong for consumers and wrong for the economy.&quot;The United States Telecom Association, a trade group, and Verizon Communications both praised Congress for passing the extension.&quot;Broadband access is now a crucial driver of America&#39;s economy, and this moratorium extension will ensure continued investment and growth in the broadband marketplace,&quot; Peter Davidson, Verizon&#39;s senior vice president of federal government relations, said in a statement. &quot;This is good for consumers and businesses across the country.&quot;
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Three Republican U.S. senators call on Congress to pass a permanent Internet tax ban before a moratorium expires Nov. 1.
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Description: The Senate on Friday scrambled to finish work on the biggest revision of corporate tax codes Congress has considered since 1986.