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 mistakenly sent notices to approximately 80,000 taxpayers telling them they needed to repay the First-Time Homebuyer Tax Credit.
October 12 -
Senate Republicans blocked President Obama’s jobs package with its extension of the payroll tax cuts and unemployment insurance, tax credits for new hires and wage increases, and surtax on millionaires.
October 12 -
A few blocks away from the Accounting Today offices, the Occupy Wall Street movement is encamped at Zuccotti Park in New York.
October 12 -
The American Institute of CPAs is asking the Internal Revenue Service to reconsider some of the fees it plans to charge for competency exams and fingerprinting as part of its tax preparer oversight program.
October 7 -
Senators John McCain, R-Ariz., and Kay Hagan, D-N.C., introduced legislation Thursday allowing multinational corporations to repatriate their foreign earnings at a reduced tax rate.
October 6 -
The Internal Revenue Service issued proposed regulations Thursday that would require tax preparers to file a due diligence checklist with any federal tax return claiming the Earned Income Tax Credit, starting next year.
October 6 -
President Barack Obama said Thursday he was “comfortable” with the changes made by Senate Democrats in his jobs bill on Wednesday, including a 5.6 percent surtax on millionaires starting in 2013.
October 6
