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 said it has increased its enforcement efforts, auditing 84 percent more returns in fiscal year 2007 of individuals with incomes of $1 million or more compared to fiscal year 2006.
January 18 -
Gilman Ciocia has acquired Edward W. Halleran Accounting & Tax Service.
January 18 -
Thomson Tax & Accounting has upgraded its zCalc fiduciary practice system, adding an advanced estate tax calculator program for determining federal and state estate taxes.
January 18 -
Diane Siriani, a CPA and principal of Siriani and Associates, has formed a joint venture with Don Burniac of Associated Tax and Accounting to introduce an online tax-filing service.
January 18 -
The Congressional Budget Office has released a report on various options for stimulating the economy, including cutting personal and corporate taxes.
January 17 -
Congress’s Joint Committee on Taxation has released a list of tax provisions that expired at the end of last year, as well as several scheduled to end this year and in subsequent years.
January 16 -
The Supreme Court has handed down a unanimous decision in a case involving the deductibility of investment advisory fees by trusts, ruling that the expenses are deductible only to the extent that they exceed 2 percent of the adjusted gross income.
January 16