Tax

A group of seven Senate Democrats and one independent has written a letter to the Financial Accounting Standards Board asking FASB to require multinational corporations to disclose their taxes, profits, and revenues on a country-by-country basis, echoing a recent letter from a group of House lawmakers.

The Internal Revenue Service said that for the upcoming 2018 filing season, it‎ will not accept electronically filed tax returns where the taxpayer does not address the health coverage requirements of the Affordable Care Act, the first tax season it has refused to accept such returns.‎

The service will also be warning preparers about due diligence requirements.

Steve Bannon won’t abandon his war against congressional Republican incumbents, not even after President Donald Trump publicly pleaded for a truce that could salvage the tax overhaul at the heart of his legislative agenda.

Cutting the corporate tax rate to 20 percent, as President Donald Trump has proposed, would increase average household income by at least $4,000 a year, according to estimates in a White House study.

A retired tax practitioner takes issue with proposals to lower rates for pass-through business income.

President Donald Trump and Senate Majority Leader Mitch McConnell appeared to give themselves some breathing room on their goal of completing a tax overhaul before year’s end in remarks that emphasized the difficulty of passing major legislation.

Many accountants have just completed their “second” tax season finalizing the extended returns, and life must go on.

The Internal Revenue Service has needed to significantly cut back a program that automatically followed up with people who failed to file a tax return, due to budget constraints, according to a new report.

The Social Security Administration said it would provide a 2.0 percent cost of living adjustment in 2018, the biggest increase since 2012.

Senator Susan Collins says she’s leaning toward supporting a fiscal 2018 Senate budget resolution that’s key to the Republican effort to pass a major tax overhaul without the need for Democratic votes.

Opinions vary wildly as to who does and who doesn’t belong to this heavily courted demographic.

Certain transactions will be subject to new guidelines, and more questions.

The IRs has pushed back a number of deadlines for those affected by the fires.

Hung Ha, 41, was convicted of threatening a federal official after aggressively seeking a tax refund.

Efficiencies could have freed up $67 million in tech spending, a TIGTA study finds.

More than 1,300 bogus returns; King of crime; retired CPA is slick non-filer; and other highlights of recent tax cases.

Republican congressmen from states with high taxes are concerned about the potential loss of the deduction.

CPAs, EAs, and attorneys are welcome to apply.

As part of the United Franchise Group, the company aims to leverage the experience of CPAs to compete with major chains.