Tax research

Fee increases may be discouraging taxpayers from seeking private letter rulings from the Internal Revenue Service to resolve their questions ahead of filing, according to a new report.

The gap between taxes owed and paid increased to $696 billion in tax year 2022.

Bookcases full of accounting and tax reference materials were useful at one time, but not so much anymore.

In this installment of The Fundamentals, we asked firm leaders and tech experts the basics of selecting a tax research solution.

When asked to rate how much they use generative AI tools on a scale from 1-10, accountants rated their overall use at 1.56

Thomson Reuters announced the general release of Checkpoint Edge with CoCouncil, now sporting an AI-Assisted Research feature for tax research as well.

Wolters Kluwer's tax, accounting and audit research solution now has generative AI capacities.

Fifteen states are reducing either individual or corporate income taxes this year, with some states trimming both individual and corporate taxes, among 34 states starting the year with significant tax changes.

Tea merchants in both the U.S. and the U.K. continue to face tax problems, while stopping short of dumping their tea into Boston Harbor.

The service updated its tax-gap projections for tax years 2020 and 2021, predicting a big jump from prior estimates.

Inflation-adjusted amounts in the Tax Code are predicted to increase 5.4% in 2024, according to a new report from Bloomberg Tax.

Accounting firms are less important than the partner leading the team in terms of the impact on the business's effective tax rate and the probability it will face an audit.

The company plans to invest $100 million per year in artificial intelligence starting next year.

Smaller accounting firms have been enthusiastic in experimenting with ChatGPT but so far are hesitating to put it towards serious client work.

Portland, Oregon, may penalize higher earners more than any other large U.S. city, according to a new report.

Instead of hiding gains, traders avoid tax by declaring losses using "wash trades" that are barred in regulated securities markets.

The District of Columbia, Massachusetts, Connecticut and Washington State had the highest incomes on average reported on tax returns.

Find out how to harness the power of AI to make you even more relevant to your clients than you are presently.

The Internal Revenue Service audits Black taxpayers at 2.9 to 4.7 times the rate of non-Black taxpayers, according to a new study.

The Internal Revenue Service audited fewer taxpayers last year, according to a new report, although audits of millionaires ticked up slightly.