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.
-
Prosecutors are asking the judge overseeing the Wesley Snipes tax evasion case to give the actor three years in prison and a fine of $5 million, even though a jury cleared him of felony charges.
April 16 -
A new study by the Computer & Communications Industry Association recommended that the Internal Revenue Service avoid investing in its own online tax preparation system, saying the proposed "I-File" system would be costly to implement and create little or no benefit for consumers.
April 16 -
The Supreme Court has issued unanimous rulings in two tax cases, MeadWestvaco Corp. v. Illinois Department of Revenue, and U.S. v. Clintwood Elkhorn Mining Co.
April 15 -
The Internal Revenue Service has released draft instructions for the redesigned Form 990, the return that tax-exempt organizations such as nonprofit charities, hospitals and universities must file annually.
April 15 -
The Senate Finance Committee heard testimony about U.S. tax policy at a hearing on tax fundamentals in advance of reform efforts that Congress plans to undertake.
April 15 -
The IRS Oversight Board encouraged the Internal Revenue Service to strive for not just "good," but "great" performance, in its 2007 annual report.
April 14 -
Following the release of tax returns by the Clintons and the Obamas, the president and vice president have released copies of their returns.
April 14