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 a major milestone in its corporate e-file program -- the successful e-filing of the nation's largest tax return from General Electric Corp. on May 18.
May 31 -
The Heroes Earned Retirement Opportunities Act has passed through Congress and is expected to be signed into law by President Bush. The bill would allow excluded combat pay to be treated as compensation under IRA contribution rules.
May 31 -
The founder of Colorado-based Octane International Ltd., a corporation whose primary business was raising money for the development of an alternative fuel additive called "vapor phase combustion," is facing indictment by a federal grand jury.
May 30 -
The Internal Revenue Service announced regulatory revisions that the agency hopes will remove impediments to e-file for corporations and shareholders.
May 29 -
Taxpayers will be able to apply for a refund of the federal excise tax on long-distance telephone service for the past three years.
May 25 -
The U.S. Department of the Treasury announced two initiatives aimed at simplifying the way small businesses, individual taxpayers and tax preparers file and pay their federal taxes.
May 24 -
We are all creatures of habit, comfortable doing things the way we always have. It worked before so it must be the best way. That may be true, but if you explore a little you might find another way of doing things. If it tests successfully, then you will at least have an alternative, and maybe even a better and more efficient way. Let's look at three examples with regard to attracting new clients.
May 22