Tax

The IRS has announced additional annual inflation adjustments for more than 50 tax provisions for 2016, including the tax rate schedules and other tax changes.

The Internal Revenue Service released its annual update Wednesday on the cost of living adjustments for pension plans and retirement plans for next year, along with the amounts of standard deductions and other tax benefits.

Starbucks Corp. and a Fiat Chrysler Automobiles NV unit must each pay as much as 30 million euros ($34 million) in back taxes after the European Union said they were handed illegal fiscal deals by the Netherlands and Luxembourg.

The impact of the Organization for Economic Cooperation and Development’s Base Erosion and Profit Shifting action plan is still unclear, but tax executives are planning ahead for changes on the international tax front.

The Internal Revenue Service met with a group of state tax administrators and tax industry leaders Tuesday to discuss additional steps they are taking for next tax season to strengthen safeguards against identity theft and tax refund fraud.

National Estate Planning Awareness Week is October 19 to 25, and two New York CPAs have some advice for estate planners and their clients.

U.S. Wealth Management CEO John Napolitano talks about how and when accountants should refer clients to an outside financial planner and work together with the advisor, in an interview with Accounting Today editor-in-chief Dan Hood.

The Internal Revenue Service has recently updated its Entertainment Audit Technique Guide to help tax professionals when reporting various items related to the entertainment industry.

Sageworks plans to add an Electronic Tax Return Reader as an enhancement to its ProfitCents and Valuation software.

Some of our favorite recent tax fraud cases.