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 Senate Finance Committee approved legislation Thursday extending dozens of tax cuts known as tax extenders, including the alternative minimum tax patch, which have either expired or are scheduled to expire at the end of the year, while paring back approximately 25 percent of the traditional tax breaks in the name of tax reform.
August 2 -
There were nearly four times the number of changes in indirect taxes such as sales and use taxes and value-added taxes around the world in the second quarter of this year, compared to the same period last year, according to a new report.
August 2 -
Senator Marco Rubio, R-Fla., has introduced legislation to exempt U.S. Olympic medal winners from paying taxes on the medals that they win.
August 2 -
The House voted Wednesday to approve a Republican-sponsored bill to extend the current tax rates for all income levels for an additional year, rejecting the Democratic alternative passed by the Senate last week that would have only extended the tax cuts for household incomes under $250,000 a year.
August 1 -
A Senate committee held a hearing Wednesday to discuss legislation requiring Internet retailers to charge their out-of-state customers sales taxes.
August 1 -
The Senate Finance Committee held a hearing Wednesday on tax reform and the tax treatment of different business entities such as pass-through S corporations and C corporations.
August 1 -
Now that it's constitutional, what does the Affordable Health Care Act mean?
August 1