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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Before adjourning for a five-week summer recess, the House pushed through a bill pairing a minimum wage increase with a GOP-led effort to extend cuts on estate taxes.
July 31 -
The Internal Revenue Service released formal guidance on its new tip reporting procedure, the Attributed Tip Income Program.
July 30 -
The Boeing Co. won't look to take a tax deduction on a $615 million settlement it paid to settle federal ethics charges.
July 27 -
The success of the Internal Revenue Service's e-filing program has led to the elimination of several jobs, The Philadelphia Inquirer reported this week.
July 27 -
Over 90 tax professors have joined the tax sections of the American Bar Association and the New York State Bar Association in asking a senator to drop his attempt to block the confirmation of Eric Solomon for assistant Treasury secretary for Tax Policy.
July 26 -
A new report from the Treasury provides a detailed analysis of what effects proposals to permanently extend the tax cuts enacted in 2001 and 2003 might have on the country's economy.
July 26 -
States and cities could lose billions annually under a congressional bill that would require businesses to have employed at least one employee in a state for 21 days, or have leased or bought property, before having to pay the state's business taxes.
July 25