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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Accounting firms are increasingly going paperless as they prepare for next tax season, relying more on scanners and workflow technology, according to a new survey.
December 10 -
Sen. Charles Grassley, R-Iowa, has written to congressional leaders criticizing a provision in the automobile industry bailout bill that provides government guarantees to mass transit agencies that have taken advantage of an outlawed tax shelter.
December 10 -
The United States and Liechtenstein have signed an agreement to exchange tax information, including details on the holdings of citizens who are sheltering money in the foreign bank accounts, but only when the U.S. already knows the names of the tax evaders.
December 9 -
Two California residents have been indicted for filing over $2 million in false tax refund claims using the names and Social Security numbers of dead people, with help from a CPA.
December 9 -
The Teamsters Union has written to the Internal Revenue Service taking issue with proposed regulations that would change the public approval requirements for tax-exempt private activity bonds and potentially undermine the public approval process.
December 9 -
Online payroll service PayCycle unveiled the latest version of its software, with improved set-up and export features.
December 9 -
A group of Democratic representatives from the House Ways and Means Committee wrote a sternly worded letter to Treasury Secretary Henry Paulson warning him against expanding a controversial IRS Notice that allows banks to write off the tax losses of other banks they acquire.
December 8