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House prohibits tax-planning patents.

California CPA • Oct, 2007 • Patent News

The House of Representatives recently voted 220-175 to overhaul patent rules and place a ban on tax-planning method patents.

H.R. 1908, the Patent Reform Act of 2007, contained a provision that would protect accounting firms from lawsuits over tax-planning methods.

The bill defines "tax-planning method" as a plan, strategy, technique or scheme designed to reduce, minimize or defer a taxpayer's tax liability. However, the bill did not include the use of tax preparation software or other tools used "to perform or model mathematical calculations or prepare tax or information returns."

Read more at http://thomas.loc.gov/cgi-bin/bdquery/z?dl10:h.r.01908:.


COPYRIGHT 2007 California Society of Certified Public Accountants Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission.
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