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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As the days tick down until the end of tax season, some clients need some gentle urging to get their taxes done, or at least to file for a six-month extension.
April 14
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Internal Revenue Service Commissioner John Koskinen defended the IRSs cybersecurity efforts during a contentious congressional hearing Thursday on the IRSs ability to protect taxpayer systems.
April 14 -
National tax preparation chains are exploiting the working poor by forcing them to spend a significant portion of the Earned Income Tax Credit just to pay for filing their taxes, according to a new report, and H&R Block is firing back.
April 14 -
Senator Elizabeth Warren, D-Mass., has introduced legislation, co-sponsored by Sen. Bernie Sanders of Vermont, that would require the Internal Revenue Service to develop a free, online tax preparation and filing service that taxpayers could use to prepare and file their taxes directly with the federal government.
April 14 -
The tax benefits of home ownership, which generations of U.S. residents have counted on, have been elusive for typical buyers since mortgage rates started tumbling in 2008, according to an analysis by John Burns Real Estate Consulting LLC.
April 14 -
With rampant fraud draining as much as $6 billion a year away from U.S. taxpayers, technology vendors are competing for billions themselves, selling software that helps governments identify the cheats.
April 14 -
Thomson Reuters is building bridges with NetSuite and other vendors enterprise resource planning software, tying its sales tax technology to theirs.
April 13
