Global tax rates, time to comply are on the decline
Tax rates have declined over the past few years and the administrative burden of paying a company's taxes continues to decline, according to a report by consulting firm PwC and The World Bank, "Paying Taxes 2013: The global picture." The report found that the U.S. total tax rate was 46.7%, a little higher than the global average. Its average time to comply was 175 hours, which was less than the global average. Business Finance (1/9)     

U.S. tax code needs full revamp, expert says
Nina Olson, the Internal Revenue Service's taxpayer advocate, calls on Congress in her annual report to overhaul the tax code. Filing a tax return has become a "significant, even unconscionable, burden," she says. The AICPA has a longstanding tradition of advocating for sound tax policy and assisting lawmakers on tax policy matters. Read more at AICPA.org. The New York Times (tiered subscription model) (1/9)     

Filing Season Opens January 30: The IRS plans to begin processing 2012 individual income tax returns on Wednesday, 1/30/13. According to the IRS, the vast majority of filers—more than 120 million households—should be able to start filing tax returns on that date, whether they file electronically or on paper. The IRS will be able to accept tax returns affected by the late Alternative Minimum Tax (AMT) patch, as well as the three major extenders—the state and local sales tax deduction, higher education tuition and fees deduction, and educator expense deduction. Several forms affected by the 2012 American Taxpayer Relief Act, including Form 5695 (Residential Energy Credits), Form 4562 (Depreciation and Amortization), and Form 3800 (General Business Credit), will require more extensive programming and testing of IRS systems. The IRS hopes to begin accepting tax returns including these tax forms between late February and into March; a specific date will be announced in the near future. News Release 2013-2.

IRS announces Jan. 30 tax season start for most taxpayers
The Internal Revenue Service announced Tuesday that it will start accepting most individual tax returns on Jan. 30, delaying the start of tax season by less than a week for most taxpayers. However, because of form and system changes required by the Jan. 2 enactment of the American Taxpayer Relief Act of 2012, some taxpayers will not be able to file until February or March. JournalofAccountancy.com (1/8)