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 will file 240 million federal tax returns and supplemental documents during calendar year 2009, according to projections from the IRS Office of Research, but that’s down 4.3 percent from estimated return filings of 250.8 million for 2008.
March 4 -
The Internal Revenue Service said it has approximately $1.3 billion in unclaimed refunds waiting for people who did not file a federal income tax return for 2005.
March 3 -
Ron Kirk, the Obama administration’s nominee for U.S. Trade Representative, has agreed to pay $9,975 in back taxes he owed on $37,750 in speaking fees.
March 3 -
Treasury Secretary Timothy Geithner explained the Obama administration’s budget and tax plans, and his handling of the financial industry bailout, to wary lawmakers in a congressional hearing.
March 3 -
Recently merged accounting firms Thevenin, Lynch, Bienvenue LLP and George Malloy, CPA, have changed their combined name to Malloy, Lynch, Bienvenue LLP.
March 2 -
The Internal Revenue Service could be doing more to encourage businesses to report miscellaneous income payments on 1099-MISC forms, according to a new report.
March 2 -
Here are a few tax law changes that taxpayers may want to note before filing their 2008 federal tax returns, according to the IRS:
March 2