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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Immigration attorney Grisel Ybarra got back a canceled check from the Internal Revenue Service for the two cents the IRS had billed her as a late fee.
November 22 -
The head of the United Kingdom's tax authority, Her Majesty's Revenue and Customs, resigned after it was revealed that two discs with information on 25 million people from 7.25 million families was missing.
November 22 -
President Bush plans to nominate Douglas Shulman as Internal Revenue Service commissioner.
November 21 -
Unfortunately, since December 31 coincides with the tax-reporting period for 99 percent of U.S. individual taxpayers, the average taxpayer will only begin thinking about their 2007 taxes during the first quarter of 2008. Unfortunately, this delay is generally very costly, since almost every individual taxpayer reports taxable income on a cash basis, as opposed to an accrual basis.
November 21 -
President Bush is nominating Nathan J. Hochman, of California, to be Assistant Attorney General (Tax Division) at the Department of Justice.
November 20 -
David Greenberg, a former tax partner with KPMG, faced a superseding indictment that added six more charges of tax evasion to the charges he was already facing as part of the government's case against KPMG's marketing of questionable tax shelters for clients.
November 20 -
H&R Block Chairman and CEO Mark Ernst has stepped down two weeks after the company CFO resigned, as the company faces losses from its subprime mortgage operations.
November 20