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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Swiss banks, for decades the bastions of secrecy, are preaching the virtue of transparency to their U.S. clients as they try to head off billions of dollars in potential fines for helping Americans evade taxes.
April 14 -
The Internal Revenue Service is asking tax professionals to refrain from directing their clients to call the IRSs e-help desk, saying that it is causing longer hold times on the phone line, which is only supposed to be used by practitioners.
April 13 -
Congressional Republicans have narrowed the estate tax so much that it affects only about 5,500 wealthy American households a year. Now they want to eliminate the tax altogetherwith a bonus for heirs.
April 13 -
Consumer demand is not affected as much by sales taxes that are tacked onto purchase prices, as opposed to excise taxes that are included in the purchase price, according to a new study.
April 13 -
With minutes counting down to this year's tax deadline, clients (and many of their accountants) are scrambling to get paperwork wrapped up on time. But many financial and tax professionals caution that in the heat of the moment, even the most knowledgeable can forget the basics never mind easy-to-miss, specialized strategies.
April 13 -
The IRS is giving clients who got a wrong 1095-A limited relief from tax penalties.
April 13 -
