Biz.PeanutButterNews.com

Full Story at msnbc.com

WASHINGTON – Ever make a personal call on your company cell phone? Did you record the value of that call as taxable income, as required by law?

Join the club, but don’t worry. President Barack Obama will propose repealing the widely ignored requirement as part of his 2011 budget plan, a Treasury Department official said Saturday.

The administration made a similar proposal in June, and it was well received in Congress. Lawmakers, however, became preoccupied by the health care debate for much of the year and a lot of their work on tax law was delayed.

This entry was posted on Monday, February 1st, 2010 at 5:09 am and is filed under Business, Government, Phone, Tax, Wireless. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.