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.
-
While late-year legislative changes again delayed filing for some taxpayers, the season proceeded relatively smoothly, according to veteran practitioners.“It was one of the smoothest ones I’ve had, and my colleagues say the same. In part it’s because the software is getting better,” said Holliston, Mass.-based preparer Larry Novick. “I did notice that a lot fewer of my clients claimed non-cash contributions, and the amount of collection plate contributions decreased substantially. Most of them had heard of the stricter substantiation rules.”
June 1 -
The number of tax evasion prosecutions fell 5.3 percent last year, continuing a steady decline for at least two decades, according to a new study.
May 29 -
The American Institute of CPAs has sent the Internal Revenue Service a spreadsheet-full of comments on the draft instructions for the revised Form 990 that will be used by tax-exempt organizations to file their returns next year.
May 29 -
The Internal Revenue Service won another tax shelter case, this one involving a sale-in/lease-out transaction.
May 29 -
The New York State Society of CPAs has promoted Joanne Barry to deputy executive director.
May 29 -
The brother of the former manager of the Washington, D.C., tax office has pleaded guilty in a wide-ranging tax scandal.
May 29 -
The Internal Revenue Service reported that its e-file program set another record this tax season, with more than 86 million individual tax returns filed so far this year, a 12 percent increase over last year at this time.
May 28