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.
-
In a limited study, the Government Accountability Office said that paid tax-return preparers at 19 chain operations returned less-than-stellar service.
April 4 -
Intuit Inc. has sued H&R Block Inc. for copyright infringement, alleging that Block's television spots echo Intuit's promotions for its market-leading TurboTax software.
April 4 -
Failed gubernatorial candidate George Henry "Nick" Jesson, who ran on a strident anti-tax platform, has been sentenced to 27 months in federal prison for tax fraud and ordered to pay $215,454 in restitution.
April 4 -
The Internal Revenue Service heard from a variety of groups on a proposed rule change that the agency says would strengthen taxpayer control over tax information in the hands of tax preparers or tax software companies.
April 4 -
Increased use of e-filing, delays in software releases and confusion over a number of new tax law changes are chief among preparer concerns as this year's filing season rapidly draws to a close."Filing started off slowly, but it seems to be picking up," said New York-based CPA Mark Albaum. "The corporate returns are easier to control because you're in greater contact with them during the year. With individual returns, you have less control. The real estate market seems to have peaked - when people are buying real estate, they tend to have their taxes done sooner."
April 2 -
The rules have been on the books for roughly half a century, but it's only recently that those who work at the Internal Revenue Service are considering the degree to which they may be ignored or abused.The rules in question are those that define the behavior that is appropriate for organizations organized under Section 501(c)(3) of the Internal Revenue Code, including churches, hospitals, universities and other not-for-profit entities. Tax-exempt organizations that must adhere to the 501(c)(3) rules are explicitly prohibited from engaging in any form of political intervention, either directly or indirectly.
April 2 -
The National Association for the Advancement of Colored People announced that it is taking measures to challenge the Internal Revenue Service's examination of the association's tax-exempt status.
April 2