Welcome to the top tax and accounting headlines from Reuters and other sources.
* The corporate tax game. Graham Bowley – The New York Times. Despite the widespread support, the campaign for a tax reform overhaul is exposing deep fault lines within the business world that suggest it may fall apart. Link
* Senate considering bill to ban tax scofflaw contractors. Tom Vanden Brook – The USA Today. The Senate is considering a bill the House unanimously passed last month that would prevent contractors with tax debts from doing business with the federal government. Link
* California tax revenue yields multibillion-dollar surplus. Chris Megerian – The Los Angeles Times. California has been flooded with revenue this tax season and is on track to finish the fiscal year with a surplus of billions of dollars, according to officials. Link
* British lobbying group condemns a proposed European financial transaction tax. Stephen Castle – The New York Times. A European tax on financial transactions would fall disproportionately on London firms, a business lobbying group said Thursday, highlighting growing tensions between Britain and its continental allies over banking regulation. Link
* Apple’s move keeps profit out of reach of taxes. Floyd Norris – The New York Times opinion. Apple has been a pioneer in tactics to avoid paying taxes to Uncle Sam. To distribute the cash to its owners would force it to pay taxes. So it borrows instead to buy back shares and increase its stock dividend. Link