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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The Internal Revenue Service has released final regulations for disbursements from Roth individual retirement accounts, removing the allocation rule for disbursements from designated Roth accounts to multiple destinations.
May 18 -
Sen. Ron Wyden, D-Ore., the ranking Democrat on the Senate Finance Committee, released a legislative discussion draft Wednesday to lay the groundwork for tax reform in the area of financial derivatives.
May 18 -
Highlights of some of our favorite tax-related blogs from the past week.
May 17 -
A man who claimed to have stolen former Presidential candidate Mitt Romneys tax returns from PricewaterhouseCoopers and threatened to expose them has been convicted on extortion and fraud charges.
May 17 -
Rep. Sander Levin, D-Mich., the ranking Democrat on the House Ways and Means Committee, introduced legislation to limit two tax strategies used by some foreign-controlled U.S. multinational corporations, known as hopscotching and de-controlling.
May 17 -
Timely and meaningful access to the Internal Revenue Service is what is most important to taxpayers and tax preparers, according to Troy K. Lewis, chair of the American Institute of CPAs Tax Executive Committee.
May 17 -
The House passed bipartisan legislation Monday to prevent taxpayer identity theft and help victims whose tax refunds have been stolen by identity thieves. The bill was co-sponsored by a CPA turned lawmaker whose own identity was stolen last tax season.
May 16
