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 Internal Revenue Service has issued final regulations related to postponement of certain tax-related deadlines due to either service in a combat zone or a federally declared disaster.
January 15 -
The House Appropriations Committee has proposed an economic stimulus bill containing $275 billion in tax cuts and $550 billion worth of spending on renewable energy, infrastructure, education and other projects.
January 15 -
President-elect Barack Obama reportedly plans to modify several of the tax break proposals that his transition team has been planning for the economic stimulus package after encountering resistance from key lawmakers.
January 14 -
Financial Executives International's Committee on Taxation has written to congressional leaders encouraging them to include more tax relief provisions for businesses in the economic stimulus package.
January 14 -
The Internal Revenue Service has offered taxpayers tips on choosing tax preparers as part of the agency's efforts to combat tax preparer fraud.
January 14 -
The IRS could start taxing virtual environments like Second Life and World of Warcraft to get a cut of the real dollars that are spent on potions, armor and weapons in the online gaming world.
January 14 -
Treasury Secretary-designate Timothy Geithner admitted owing more than $34,000 in self-employment taxes between 2001 and 2004.
January 14