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.
-
The IRS's Taxpayer Advocacy Panel has released an annual report on its activities and recommendations for improving the Internal Revenue Service.
August 4 -
The U.S. Court of Federal Claims ruled against a family's attempt to avoid taxes on $204 million in gain realized on the sale of their business by using a tax shelter.
August 4 -
Sen. Barack Obama, D-Ill., called for an "emergency energy rebate" of $1,000 to be offered to families this fall, along with a $50 billion stimulus package to help jump-start job creation.
August 3 -
The Internal Revenue Service has seized over $24 million from two companies that were processing payments for an Internet gambling site, Bodog.com.
August 3 -
Whether John McCain or Barack Obama becomes the country’s next chief executive, they will need to look not only at tax reform, but international tax reform early in their administration.“We may find it wise to get to [international] tax reform very early,” advised Sen. Max Baucus, D-Mont., chairman of the Senate Finance Committee, during recent Capitol Hill hearings on the issue.
August 3 -
The 80 percent e-file goal, in place since it was proposed in the IRS Restructuring and Reform Act of 1998, was a major contributing factor to the growth in electronic filing, despite the fact that it fell short of the 2007 deadline, according to the Internal Revenue Service Oversight Board.
August 3 -