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 Ending Subsidies for Yachts Act, barring the tax deduction for new mortgages on boats, is pushed by two Democrats in the Republican-led House, Representatives Mike Quigley of Illinois and Tim Walz of Minnesota.
January 28 -
The New York State Department of Taxation and Finance said Monday it has begun issuing the first income tax refunds of 2014 for taxpayers who used an online free tax service provided by the state.
January 27 -
Ten years ago, Congress passed a law intended to penalize chief executive officers whose companies shift their legal addresses to tax havens.
January 27 -
The National Society of Accountants is worried about the impact of the budget cuts on the Internal Revenue Services ability to send out tax refunds and help taxpayers, and is sending a letter to the chairman of the House Financial Services and General Government Appropriations Subcommittee to outline its concerns.
January 27 -
Here is a one-question multiple choice quiz for all return preparers.
January 24 -
The Internal Revenue Service plans to send expiration letters next week to tax practitioners who have not renewed their Preparer Tax Identification Numbers for 2014.
January 24 -
The Internal Revenue Service recently drafted Affordable Care Act regulations that offer some insight into what will be the associated monetary penalties for individuals who do not take up health care coverage.
January 24