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 should make several changes in its electronic filing system to address concerns raised by the American Institute of CPAs and others, according to two new reports.
June 24 -
A Russian appeals court has given PricewaterhouseCoopers' Russian firm the right to appeal a tax evasion case involving the firm's audits of the bankrupt Yukos oil company.
June 24 -
Vertex has acquired Levyti Consulting's Global Tax Office software and plans to market the product with its own global income tax and compliance systems.
June 24 -
More than 27,000 health care providers who were paid by Medicare had unpaid payroll and other federal tax debts totaling over $2 billion in 2006, according to a study by the Government Accountability Office.
June 24 -
The Internal Revenue Service is trying to cope with rising gas prices by increasing the optional standard mileage rates that taxpayers can use to calculate the deductible costs of operating an automobile.
June 23 -
The late comedian George Carlin had a $3 million tax debt that took him about two decades to pay off, but he credited the debt with keeping him working as a comic.
June 23 -
The Internal Revenue Service has waived some limitations of the low-income housing tax credit in Indiana and Iowa so that owners of facilities in these states can provide housing to victims of recent storms and flooding.
June 23