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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Questions about economic stimulus payments and tax rebates kept the phones buzzing at Internal Revenue Service offices and cost the IRS a considerable chunk of its budget.
June 22 -
Calculations of economic stimulus payments by the Internal Revenue Service may have been wrong in nearly 400,000 cases.
June 22 -
The Internal Revenue Service said that about 5.2 million retirees and disabled veterans who qualify for economic stimulus payments have not filed to claim the payments.
June 22 -
A former UBS banker, Bradley Birkenfeld, pled guilty to conspiring with an American billionaire real estate developer, Swiss bankers and co-defendant Mario Staggl to help the developer evade paying $7.2 million in taxes by helping him conceal $200 million of assets in Switzerland and Liechtenstein.
June 22 -
Milwaukee Brewers first baseman Prince Fielder reportedly owes the Internal Revenue Service a tax debt of $409,149, and the IRS has filed a lien against him to collect it.
June 19 -
Charles Merrill, a self-made millionaire and cousin of the co-founder of Merrill Lynch, could end up serving three years or more in jail for not filing income taxes since beginning a tax protest in 2004.
June 19 -
A group of eight midsized CPA firms has banded together to offer cross-border tax services in an effort to compete with larger firms.
June 18