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 released its summer 2008 Statistics of Income Bulletin, featuring tax year 2005 data on the growth of profits and tax liability at foreign-controlled domestic corporations.
August 19 -
A recent study on corporate tax payments has been making waves on the Internet and in Washington in the past week.
August 19 -
A Utah attorney was sentenced to 120 months in prison and 36 months of supervised release after he was convicted of participating in a $20 million offshore tax fraud conspiracy.
August 18 -
Inventor Gilbert P. Hyatt received a jury award of more than $388 million after suing California's Franchise Tax Board for its conduct in auditing him more than a decade ago.
August 18 -
H&R Block ended an eight-month search to fill its president and chief executive posts as the tax-prep giant, headquartered here, appointed former McDonald’s Corp. executive Russ Smyth to those positions.Smyth, who formerly served as president of McDonald’s Europe, succeeds Alan Bennett, who has served as interim CEO since November 2007. Smyth was scheduled to assume the Block helm August 1.
August 17 -
The Missouri attorney general has filed suit against tax representation chain JK Harris & Co., saying the firm did not provide the services promised to resolve its clients' state and federal tax problems.
August 17 -
John Gutfreund, former CEO of investment bank Salomon Brothers, is facing a lien of over $430,000 from the Internal Revenue Service on his 16-room Fifth Avenue apartment.
August 17