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 amount individuals can contribute to 401(k)s in 2025 has increased by $500 to $23,500, but the IRA limit remains $7,000.
November 1
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To the mat; extra help; FACS of the case; and other highlights of recent tax cases.
October 31
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Fee increases may be discouraging taxpayers from seeking private letter rulings from the Internal Revenue Service to resolve their questions ahead of filing, according to a new report.
October 31
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The Internal Revenue Service has decided to stop automatically levying penalties when a taxpayer files a form reporting foreign gifts too late.
October 31
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A handful of Illinois politicians are once again eyeing a new tax on the highest earners.
October 31
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The Georgia accountants were sentenced to periods of supervised release and have to pay millions in restitution.
October 31
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The number of taxpayers filing individual income tax returns is projected to increase by about 10,000,000 over the next eight years.
October 31
