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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Taxpayers’ rights were violated when the Internal Revenue Service filed liens on their accounts while they were in bankruptcy, according to a new report by a government watchdog.
February 27 -
Rep. Gary Ackerman, D-N.Y., has written to Internal Revenue Service Commissioner Douglas Shulman asking him to provide tax relief to investors who were swindled by Bernard Madoff’s $50 billion Ponzi scheme.
February 27 -
Approximately 40 percent of online households plan to file their federal taxes via the Internet this year, up from less than 34 percent four years ago, according to a new report.
February 27 -
A federal court has permanently barred a Florida tax preparer who called himself “The Tax Doctor” from doing other people’s returns after he allegedly cost the Treasury at least $750,000 in bogus claims.
February 27 -
President Barack Obama presented his budget for fiscal 2010, including about $318 billion in tax increases mainly targeted at the wealthy.
February 26 -
The Internal Revenue Service is not doing enough to crack down on tax preparers who use illegal tax shelters and to keep track of complaints against them by clients, according to two new reports.
February 26 -
More than two-thirds of the 100-plus CPAs present at a New York State Society of CPAs breakfast indicated they had clients affected by the Bernard Madoff scheme. For investors who need funds soon, the IRS may be the best bet.
February 26