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 Internal Revenue Service opened the 2012 tax season on Wednesday by extending the tax-filing deadline until April 17.
January 4 -
While all Preparer Tax Identification Numbers from last tax season expired on December 31, the Internal Revenue Service said its PTIN system would continue to accept renewals after the deadline.
January 3 -
H&R Block kicked off tax season Tuesday with a new service that allows its tax preparers and clients to meet in real-time via videoconference.
January 3 -
Year-end planning is now behind us. Many believe that the failure of the joint congressional committee to reach a deficit reduction agreement pushes fundamental tax reform off at least until after the 2012 elections. Some tax changes are still possible with respect to jobs promotion and extending expiring provisions, but those efforts will be primarily focused on 2012. So, what do we know now about what is new for the 2011 tax return filing season?
January 1 -
Tighter IRS scrutiny of preparers and returns, staffing issues and a stagnant economy are facing tax professionals as they ready their practices for a new filing season.
January 1 -
The Internal Revenue Service is encouraging more taxpayers to take advantage of the "saver's credit."
December 26 -
Both the House and Senate passed a two-month extension of the payroll tax cut, unemployment benefits, and the “doc fix” for preserving the current Medicare reimbursement for physicians by unanimous consent on Friday morning, sending the measure to President Obama’s desk.
December 23