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.
-
The American Institute of CPAs has introduced a set of Interactive Tax Checklists to help practitioners prepare clients’ returns.
December 20 -
The Internal Revenue Service saved about $14.19 million by not mailing out tax form packages this year, but the elimination of the mailings increased the burden on approximately 6 million taxpayers who needed to obtain the forms themselves, according to a new government report.
December 20 -
The Senate has passed a two-month extension of the payroll tax cut and unemployment benefits, but House Republican leaders and some Democrats balked at the short-term extension.
December 19 -
Congressional leaders in both parties signaled they were working on a deal to extend the payroll tax cut and unemployment benefits for at least two months, while also agreeing on a spending bill that would avert a government shutdown.
December 16 -
The Internal Revenue Service reminded tax preparers to renew their Preparer Tax Identification Numbers before they expire at the end of the year.
December 15 -
The Internal Revenue Service plans to release a new information reporting form that taxpayers will need to use next tax season to report on certain types of foreign financial assets for tax year 2011.
December 15 -
New information released Wednesday on the holdings of U.S.-based multinational corporations is adding fresh ammunition to the dispute over whether companies should be given a tax holiday on repatriated foreign profits.
December 14