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 Web series Nacho Punch recently posted a funny new video for Tax Day satirizing trailers for romantic comedies, this one involving an accountant named Beth and a hapless taxpayer named Ben who fall in love over his taxes.
April 17 -
Its no surprise that tax rates affect economic behavior.
April 16 -
The U.S. House of Representatives voted to let taxpayers deduct state sales taxes on their federal returns, a victory for residents of Texas, Florida and other states that lack an income tax.
April 16 -
A new study of consumer spending of tax refunds finds a correlation between how the refunds are perceived and whether taxpayers opt to spend the money right away or save it for later.
April 16 -
The U.S. House voted to repeal the 99-year-old U.S. estate tax amid a partisan clash over whether the government should break up concentrated wealth or make it easier to pass along assets to the next generation.
April 16 -
Faced with steep budget cuts, the Internal Revenue Service directed more taxpayers to consult Web sites and its mobile app for answers to their questions this year rather than visiting the IRSs walk-in Taxpayer Assistance Centers or calling its phone lines, while also using technology to detect tax refund fraud.
April 16 -
In 2011, the federal government stopped the Advance Earned Income Tax Credits program. Today, Earned Income Tax Credits still exist, but on a 1040 personal tax return level only.
April 15
