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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Organizations that provide seller-funded down-payment assistance to home buyers do not qualify as tax-exempt charities, the Internal Revenue Service said in a ruling last week.
May 7 -
Charles W. McClure, a Colorado tax preparer, pleaded guilty to p reparing a false income tax return and will face up to a three-year jail term, a $100,000 fine and restitution of up to $12,516.
May 7 -
With the House Ways and Means Committee due to hold hearings on corporate tax reform next week, the Tax Foundation recently released a comparison of the U.S. corporate tax system to other countries around the world.
May 7 -
Both houses of Congress appear to have reached a deal on a $70 billion package of tax cuts, according to published reports.
May 3 -
The Taxpayer Advocacy Panel, a volunteer group that works to improve customer service and satisfaction at the Internal Revenue Service, has released its 2005 Annual Report.
May 3 -
As quickly as the idea was proposed, the prospect of $ 100 gas-rebate checks for taxpayers was taken off the Senate table.
May 2 -
Another federal regulator has publicly floated the idea of the government requiring the release of tax information from public companies.
May 2