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 Senate and House have passed a bill that will provide tax relief to the victims of the Virginia Tech University shootings and their families.
December 11 -
As increasing client demand for tax services often exceeds a firm's manpower and resources, many firms are turning to outsourcing services and solutions to save time and expenses while increasing profitability. Listen to how one firm did it during an online session on Tax Prep Outsourcing.
December 11 -
The Senate passed a bill that would keep the alternative minimum tax from spreading to 23 million taxpayers, but without including any of the offsetting revenue-generating provisions included in a version of the bill passed last month by the House.
December 10 -
Defying a veto threat from the White House, the House passed legislation that would encourage the use of renewable energy, raise automobile fuel efficiency standards and increase taxes on major oil and gas companies, but the measure promptly stalled when it reached the Senate.
December 10 -
The House has introduced legislation to amend the Tax Code to modify the penalty on the understatement of taxpayer's liability by preparers.
December 10 -
The Internal Revenue Service auctioned off 21 lots of exotic animals, including tarantulas, pythons, wallabies and chinchillas, after seizing the assets of a group called the Living Science Foundation that fell behind in its tax payments.
December 10 -
The Tax Court issued a summary opinion acknowledging that a woman who owned a trucking business took her slot machine playing seriously enough to qualify her as a professional gambler.
December 7