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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Virtually all tax preparers were adversely affected by the late start to the 2013 filing season, with the added complications of late forms, late information from brokerage houses and, in some cases software glitches.
June 1 -
The principles behind the passive-activity loss limitations rules under Code Sec. 469 and the net investment income Medicare tax under Code Sec. 1411 are similar -- limit business losses from passive activities or raise the tax on passive-type income a bit more, when not the direct result (at least not a significant part) of a taxpayer's labor. Congress, however, did not leave it at that -- or, as some would argue, leave well enough alone.
June 1 -
Your spouse or partner seems strangely distant or removed, so what's going on? Ponder as you might, it just doesn't seem to add up. Suddenly you scan the calendar, and it comes to you, crystal clear -- it is tax season!
June 1 -
H&R Block has introduced a remote service for U.S. citizens living abroad that will help them meet their often confusing tax-filing obligations.
May 31 -
If the number of congressional hearings on tax reform this year is an indication of the potential for passage, it seems possible that something may actually be in the works.
May 30 -
The Internal Revenue Service does not have enough data to identify who claims a tax expenditure and how much they claim, for nearly half the dollar value of all tax expenditures, or $492 billion out of $1 trillion, according to a new report by the Government Accountability Office.
May 30 -
The enhancements that the Internal Revenue Service is making to its Modenized e-File computer system promise to improve the systems reliability and reduce delays in processing tax returns next filing season, according to a new report.
May 30
