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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New York Citys Department of Consumer Affairs has investigated nearly 800 income tax preparers in a month-long investigation and issued 2,010 charges for violations, including illegally advertising refund anticipation loans as instant or rapid refunds.
March 2 -
IMGCAP(1)]To gather information for law enforcement, particularly drugs and organized crime, Congress has long required U.S. persons owning or having signatory authority over foreign financial accounts to file a report with the Department of the Treasury disclosing information about the accounts.
March 1 -
Senate Democrats have introduced legislation to extend unemployment benefits, a 65 percent subsidy for COBRA health insurance for the unemployed, and a large set of tax breaks that expired at the end of last year.
March 1 -
The Senates latest stimulus effort, a jobs bill named the Hiring Incentives to Restore Employment Act, passed this week with a 70 to 28 margin.
February 26 -
Liberty Tax Service has reported a 10.2 percent increase in the total number of tax returns filed as of Feb. 15, 2010, and a 28.1 percent increase in revenue generated, a marked contrast with rival H&R Block.
February 25 -
The Senate Finance Committee held a hearing to discuss trade and tax issues relating to small business job creation.
February 25 -
Sen. Ron Wyden, D-Ore., and Judd Gregg, R-N.H., have introduced legislation to eliminate many of the exemptions, deductions, credits and other tax breaks in the Tax Code.
February 24
