The UK government's tax department took to social networking for the first time to warn people to come clean about offshore bank accounts by November 30 2009 to avoid penalty charges or even prison.

U.S. tax authorities will start to audit 6,000 randomly selected companies to focus on employment tax issues ranging from executive compensation to fringe benefits, IRS officials said.

The House health care bill released Thursday raises most revenue by taxing individuals making $500,000 or more, but also tightens rules for corporate accounting and takes aim at foreign companies working in tax havens.

The global economy still faces major hurdles on its path to recovery, such as the ballooning public deficits and weak consumer spending, and investors remain cautious until they're resolved, Barclays President Bob Diamond told CNBC.

Top Senate Democrats have reached agreement to extend the $8,000 tax credit for first-time homebuyers, Sen. Dodd said.  But a Republican cautioned that negotiations were continuing.

The U.S. House of Representatives will revise the estate tax — or inheritance tax — before it expires at the end of 2009, the chamber's No. 2 Democrat said Tuesday.

The Senate could vote on Tuesday to extend a popular tax break for home buyers that has helped lift the housing market out of its worst slump since the Great Depression.

The growing deficit and broken tax policies are killing job creation and causing long term damage to the middle class of the US, Steve Wynn, chairman and CEO of Wynn Resorts, told CNBC Friday.

With homebuyers rushing to complete their purchases before a tax credit for first-time owners expires, a report Friday is expected to show strong September sales.

A government watchdog said the $700 billion bailout for the financial industry played a major role in rescuing the economy over the last year but also engendered anger and distrust among Americans because of secrecy and confusion about the way the program was handled.

Swiss bank UBS AG warned U.S. customers by registered mail their account details may be given to U.S. tax authorities, a method that could itself breach secrecy laws, a Swiss paper said on Sunday.

The Internal Revenue Service's amnesty program, which ends at 5 p.m. EDT on Thursday, has seen 7,500 individuals come forward over six months, getting in before the IRS pursues them.

Concluding that some of the nation’s biggest banks are in good enough shape to raise capital from private investors, senior Treasury officials would like more of them to repay billions of dollars in taxpayer money that bailed them out over the last year.

Under the amnesty program that began in September, tax cheats can declare offshore income, pay reduced fines and get general immunity from criminal prosecution.

Individuals who participate in the program get a reduced fine, pay back taxes and interest and are generally free from criminal prosecution if their income did not come from illegal sources and meet other criteria.