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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As previously announced, the Internal Revenue Service will soon begin charging user fees for the residency certification letters commonly used to avoid foreign value added taxes.
September 7 -
After a five-year effort, the American Society of Appraisers is taking credit for some of the provisions contained in the Pension Protection Act of 2006.
September 7 -
A case questioning the legality of a Kentucky law that exempts the interest on most municipal bonds from being taxed by the state -- when the investor is a resident of the state -- could have far-ranging effects for the $2.3 trillion municipal-bond market.
September 6 -
A report from the Treasury Inspector General for Tax Administration estimates that computer programming woes cost the country more than the $200- to $300-million range originally estimated by the Internal Revenue Service.
September 5 -
The lead singer of the Isley Brothers, Ronald Isley, has been sentenced to three years and a month in prison for tax evasion charges.
September 5 -
Pitney Bowes Inc., a manufacturer of postage meters, mailing systems and other equipment, agreed to a $1.1 billion tax settlement with the Internal Revenue Service.
September 4 -
A complete overhaul of the federal income tax system - one of the top legislative priorities for President George W. Bush last year - appears to have slipped off of the administration's radar screen altogether in 2006, congressional leaders charged.The latest indication that White House interest in tax reform has cooled during the past year: Top Treasury Department officials declined to testify at a recent round of Senate Finance Committee hearings to discuss the issue.
September 3