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 recently enacted Patient Protection and Affordable Care Act, as amended by the Health Care and Education Reconciliation Act of 2010, relies heavily on new tax provisions in the Internal Revenue Code to implement many of the goals of health care reform. The effective dates for many of these tax provisions are delayed - some do not take effect until 2013, 2014 or even 2018.
May 10 -
The majority of CFOs see state taxes increasing for their companies and believe that state and local tax compliance has become more demanding than federal tax compliance, according to a new survey by Grant Thornton.
May 7 -
In comments submitted to the Internal Revenue Service,the National Society of Accountants supported the agency's proposed taxpreparer registration requirements, but suggested broadening them to includeeven more preparers.
April 29 -
The economic realities of budget shortfalls faced bygovernments worldwide will accelerate a shift toward indirect taxes such asvalue-added taxes and present new risks, challenges and opportunities for U.S.businesses operating globally, predicts a new report from KPMG LLP.
April 29 -
The initial meeting of the White House deficit commission kicked off as a bipartisan panel considered ways to curb the growing federal budget deficit and the national debt.
April 27 -
A change in the structure of the taxation of carried interest, passed by the House last December and included in the Obama administration budget for 2011, is becoming more likely as the Senate searches for revenue offsets.
April 22
