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 announced that while the phase-out of the tax credit for Toyota and Lexus hybrids continues, General Motors Corp. and Nissan hybrids still qualify for the full credit.
May 7 -
Practitioners considering making an offer in compromise to the Internal Revenue Service on behalf of a client are faced with significant changes to the program. While negotiating an OIC has not been an option for most taxpayers, the changes in several key features mean that it will no longer be a feasible option for some.Topping those new OIC guidelines is a rule in which taxpayers filing a lump-sum offer must pay a non-refundable deposit of 20 percent of the offer amount with the application.
May 6 -
Efforts to rid the European Union of the massive confusion caused by having its enterprises dealing with 27 different corporate tax systems could now come into effect as early as 2010.
May 6 -
The Internal Revenue Service is preparing to redesign its Form 990, “Return of Organization Exempt From Income Tax,” according to published reports.
May 6 -
In recent hearings before the House Ways and Means Subcommittee on Select Revenue Measures, both the American Institute of CPAs and the New York State Society of CPAs called for the repeal of the oft-debated alternative minimum tax.
May 6 -
The New York State Society of CPAs will host the 28th Annual New York CPA Business & Technology Show & Conference on May 16 and 17 at the Hilton New York Hotel.
May 3 -
Lacerte users want respect from their tax software vendor. And if they don’t get it soon, they’re going to look at alternatives.
May 2