Tax
Tax News & IRS Insights for Accounting Professionals
Accounting Today delivers news and analysis for accounting and tax professionals on federal and state tax developments, IRS guidance,information reporting, and operational implications for practices and clients. Our coverage focuses on legislative and procedural shifts that tax practitioners must monitor in planning, compliance, and advisory contexts.
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Even though the Internal Revenue Service approves 94 percent of the 501(c)(3) applications it receives through the simplified Form 1023-EZ, approximately a quarter of them do not pass the test.
February 6
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Three members of the tax-writing House Ways and Means Committee have introduced bills to enhance the Earned Income Tax Credit, the American Opportunity Tax Credit and the Child Tax Credit.
February 6
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The American Institute of CPAs is asking the Internal Revenue Service and the Treasury Department to issue regulations on the expansion of the R&D credit for startups.
February 6
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Tax season is a busy time and there is a temptation to take a shortcut on procedures, skip some extra training or sidestep an extra effort to be in touch with a client. Succumbing to these and other temptations is a shortsighted mistake that should be avoided.
February 6
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GSCPA brought over 100 of its members to meet with lawmakers.
February 6
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Increasing levels of passive investment in companies could be encouraging them to pursue tax shelters.
February 6
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Some of the most frequent problems with returns result from simple things like goofs in arithmetic, misspelled names and transposed numbers.
February 5
