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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Just before the holiday break, a federal appeals court said it will reconsider a case involving the taxability of damages received for emotional distress.
December 27 -
For a government agency with such a bad rap in popular culture, the Internal Revenue Service performed well in a recent survey asking taxpayers to comment on customer service levels.
December 27 -
The thoroughness of Internal Revenue Service enforcement efforts for the nation’s largest corporations, measured by the number of hours devoted to each audit, has substantially declined since Fiscal 2002, according to data obtained by the Transactional Records Access Clearinghouse.
December 26 -
A Utah businessman has become the third person to enter a guilty plea in the criminal probe over tax shelters promoted by 16 former executives of Big Four firm KPMG.
December 26 -
The Internal Revenue Service is lifting a moratorium on determination letter applications for conversions from traditional defined benefit pension plans to so-called cash balance plans.
December 26 -
The long-awaited trial of 16 former executives at Big Four firm KPMG on charges of conspiracy and tax evasion will begin in September.
December 22 -
As expected, President Bush signed a massive bill that would extend expiring tax, health and trade legislation.
December 21