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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IMGCAP(1)][IMGCAP(2)]By doing what they do best—taking care of their clients—international accounting firms may be exposing themselves to multiple tax claims on their own account.
August 17 -
The American Institute of CPAs has written a letter to the Internal Revenue Service asking the IRS to extend the due dates for filing the estate tax form for last year and this year and for a new form for allocating the increase in basis for property acquired from a decedent.
August 16 -
Berkshire Hathaway chairman and CEO Warren Buffett said in an editorial Monday that those making over $1 million and $10 million per year should be taxed at higher rates.
August 15 -
Sen. Chuck Grassley, R-Iowa, has written a letter to President Obama disagreeing with the president’s definition of the term “tax reform.”
August 11 -
Undercover investigators from the Treasury Department posing as taxpayers who needed customer service from the Internal Revenue Service were kept waiting for up to four hours in IRS offices and in some cases told to come back another day.
August 11 -
The Treasury Department’s Office of Tax Analysis has released a paper that considers changing the way to identify small businesses and their owners, along with their tax characteristics.
August 10 -
Standard & Poor’s decision to downgrade the credit rating for U.S. debt could put new pressure on the members of the so-called “super committee” in Congress to agree on tax reforms.
August 9
