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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A Senate report estimates that tax cheating now equals about 7 cents out of each dollar paid by honest taxpayers, or as much as $70 billion annually.
August 1 -
The American Institute of CPAs has been working to mend fences with local officials in Durham, N.C., after the county manager threatened to pull a $400,000 subsidy package for the institute's relocation of its New Jersey headquarters.
July 31 -
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