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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Former football player O.J. Simpson, singer Dionne Warwick and comedian Sinbad were among the celebrities who showed up on California's Delinquent Taxpayers list.
October 18 -
The Internal Revenue Service said that personal exemptions and standard deductions would rise and tax brackets would widen as it adjusted a variety of tax provisions for 2008 to keep pace with inflation.
October 18 -
The Internal Revenue Service said that Form 1120-A, U.S. Corporation Short-Form Income Tax Return, is now obsolete.
October 18 -
The Social Security Administration said monthly benefits would increase 2.3 percent for more than 54 million Americans in 2008.
October 17 -
Scandal-scarred health care provider HealthSouth scored $440 million in a tax recovery from the Internal Revenue Service despite the company's acknowledgment of financial fraud.
October 15 -
The House of Representatives has approved a bill that would ban private tax collections, but the bill's prospects remain uncertain in the Senate.
October 14 -
Ernst & Young has been named by a law firm that has filed a submission with the Internal Revenue Service's Whistleblower Office, claiming that one of the accounting firm's Fortune 500 clients improperly reduced its taxes by $1 billion through a series of transactions.
October 14